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The standard deduction for 2011 is:
Head of household---$8,500
Married filing joint----$11,600
Married filing separate---$5,800
Single---$5,800
The child tax credit continues to be $1,000 for children under 17 years old.
The personal exemption is $3,700 in 2011.
The amount of net income from self-employment must be at least $4,480 to earn four quarters of credits for social security purposes. The website for this information is: http://ssa-custhelp.ssa.gov and click on question 20. |
