According to predictions, 2011 tax rates increase will affect businesses and individuals. Although married couples over $ 250,000 a year and singles earning more than $200,000 a year will be the first affected by the changes, middle incomers will also experience some increases in their pockets.

Next year, tax rates will return to the tax rates in force before 2001 and President Barack Obama have already suggested imposing a 20 percent tax rate on long-term capital gains and qualified dividends.

According to the 2011 tax rates suggested, high income taxpayers will be affected the first. On the other hand, those with qualified dividend will pay less tax because their regular tax rates are lower that the 20 percent suggested, as other will pay more taxes because personal exemptions would begin at lower income if President Obama´s budget proposal for coming 2011 would come into effect.

Just in case, it would be better that people would tighten their belts and reduce their expenses so the 2011 tax rates affect them as less as possible.

Learn more about 2010 tax rates.

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