Credit Karma Offers Free Auto Insurance Score, Vantage Score - Bargaineering

Credit Karma Offers Free Auto Insurance Score, Vantage Score

Posted: 10 Jan 2011 09:06 AM PST

I logged into my Credit Karma last week, part of my monthly do it yourself identity theft regimen, when I saw that they had changed the name of the credit score you receive to the TransRisk Score. I’ve always known that Credit Karma gave you a TransUnion credit score based on your TransUnion report but this is the first time I saw that it was actually named the TransRisk Score.

In addition to this name change, they added two more tabs:

Auto Insurance Score: “Your TransUnion Auto Insurance Risk Score represents whether you are more or less likely to file a claim that will result in losses for the insurance company. This score is calculated using information found in your TransUnion credit report and ranges from 150 (minimum) to 950 (maximum). The open model for calculating these risk scores were built according to standards set by the National Conference of Insurance Legislators Model Act and should thus help take the mystery out of how scores are calculated.”
VantageScore: “VantageScore is a new credit scoring model created by America’s three major credit reporting agencies to support a truly consistent and accurate approach to credit scoring. This new score provides lenders with nearly identical risk assessment across all three credit reporting companies. Your VantageScore on Credit Karma was calculated based on information in your TransUnion credit report and follows a familiar academic scale for ease of understanding: A (901-990), B (801-900), C (701-800), D (601-700), F (501-600).”

I’d never heard of the Auto Insurance Score before and the list of “factors that affect your insurability” didn’t seem to give me much direction in how I could improve those score (and presumably lower my premiums). I learned about VantageScore back in 2006 when the three bureaus tried to popularize it as an alternative to FICO but I don’t think it ever caught on.

Credit Karma Offers Free Auto Insurance Score, Vantage Score from personal finance blog Bargaineering.com.

Official 2011 US Income Tax Brackets (IRS Tax Rates)

Posted: 10 Jan 2011 06:02 AM PST

With every new year comes a “little” tweaking of income taxes and this year is no different. Three weeks ago, we didn’t what was going to happen to our tax rates since Congress had yet to act on the expiring Bush era tax cuts. With the clock winding down, they opted to extend them by two years and so the only change you’ll see is an adjustment for inflation.

This post covers the 2011 income tax brackets, check here if you’re looking for the 2010 Federal Income Tax Brackets.

This year we’ll be presenting them a little differently. Some readers are here just to find out their marginal tax rate and others want to find out how much in taxes they’ll be paying. So this year you’ll see a listing of all the marginal tax rates first, followed by a breakdown of taxes due (without accounting for deductions and other adjustments).

2011 IRS Tax Brackets

Here are the 2011 tax tables, which make it easy to find which marginal tax bracket you are in:

Tax Bracket	Single	Married Filing Jointly	Head of Household
10% Bracket	$0 – $8,500	$0 – $17,000	$0 – $12,150
15% Bracket	$8,500 – $34,500	$17,000 – $69,000	$12,150 – $46,250
25% Bracket	$34,500 – $83,600	$69,000 – $139,350	$46,250 – $119,400
28% Bracket	$83,600 – $174,400	$139,350 – $212,300	$119,400 – $193,350
33% Bracket	$174,400 – $379,150	$212,300 – $379,150	$193,350 – $379,150
35% Bracket	$379,150+	$379,150+	$379,150+

Taxes Due

If you are trying to calculate your taxes due, these tables may be more helpful. Remember that taxes are due on your adjusted income after accounting for deductions and other adjustments.

Single Filers

These tables are for single filers who are not surviving spouses or heads of household:

Taxable Income	Tax
$0 – $8,500	10% of taxable income
$8,500 – $34,400	$850 plus 15% of excess over $8,500
$34,500 – $83,600	$4,750 plus 25% of excess over $34,500
$83,600 – $174,400	$17,025 plus 28% of excess over $83,600
$174,400 – $379,150	$42,449 plus 33% of excess over $174,400
$379,150+	$110,016.50 plus 35% of excess over $379,150

Married & Surviving Spouses

These tables are for married filing jointly or surviving spouses:

Taxable Income	Tax
$0 – $17,000	10% of taxable income
$17,000 – $69,000	$1,700 plus 15% of excess over $17,000
$69,000 – $139,350	$9,500 plus 25% of excess over $69,000
$139,350 – $212,300	$27,087.50 plus 28% of excess over $139,350
$212,300 – $379,150	$47,513.50 plus 33% of excess over $212,300
$379,150+	$102,574 plus 35% of excess over $379,150

Head of Household

These tax tables are for those considered Heads of Household:

Taxable Income	Tax
$0 – $12,150	10% of taxable income
$12,150 – $46,250	$1,215 plus 15% of excess over $12,150
$46,250 – $119,400	$6,330 plus 25% of excess over $46,250
$119,400 – $193,350	$24,617.50 plus 28% of excess over $119,400
$193,350 – $379,150	$45,323.50 plus 33% of excess over $193,350
$379,150+	$106,637.50 plus 35% of excess over $379,150

Married Filing Separately

These are tax tables for those filing as Married Filing Separately:

Taxable Income	Tax
$0 – $8,500	10% of taxable income
$8,500 – $34,400	$850 plus 15% of excess over $8,500
$34,500 – $69,675	$4,750 plus 25% of excess over $34,500
$69,675 – $106,150	$13,543.75 plus 28% of excess over $69,675
$106,150 – $189,575	$23,756.75 plus 33% of excess over $106,150
$189,575+	$51,287 plus 35% of excess over $189,575

With the passage of the Bush era tax cut extension, these brackets aren’t much different than the 2010 tax brackets after an adjustment for inflation.

If you want to learn more, you can check out the always fun to read IRS Revenue Procedure 2011-12.

Official 2011 US Income Tax Brackets (IRS Tax Rates) from personal finance blog Bargaineering.com.