All of the previous answers are only partially correct. Specially in region like Australia, they always include pole and calculate a very large rectangle even for 10kms. 
Specially the algorithm by Jan Philip Matuschek at http://janmatuschek.de/LatitudeLongitudeBoundingCoordinates#UsingIndex included a very large rectangle from (-37, -90, -180, 180) for almost every point in Australia. This hits a large users in database and distance have to be calculated for all of the users in almost half the country.
I found that the Drupal API Earth Algorithm by Rochester Institute of Technology works better around pole as well as elsewhere and is much easier to implement.
https://www.rit.edu/drupal/api/drupal/sites%21all%21modules%21location%21earth.inc/7.54
Use earth_latitude_range and earth_longitude_range from the above algorithm for calculating bounding rectangle 
Here is the implementation is Java
    /**
 * Get bouding rectangle using Drupal Earth Algorithm
 * @see https://www.rit.edu/drupal/api/drupal/sites%21all%21modules%21location%21earth.inc/7.54
 * @param lat
 * @param lng
 * @param distance
 * @return
 */
default BoundingRectangle getBoundingRectangleDrupalEarthAlgo(double lat, double lng, int distance) {
    lng = Math.toRadians(lng);
    lat = Math.toRadians(lat);
    double radius = earth_radius(lat);
    List<Double> retLats = earth_latitude_range(lat, radius, distance);
    List<Double> retLngs = earth_longitude_range(lat, lng, radius, distance);
    return new BoundingRectangle(retLats.get(0), retLats.get(1), retLngs.get(0), retLngs.get(1));
}
/**
 * Calculate latitude range based on earths radius at a given point
 * @param latitude
 * @param longitude
 * @param distance
 * @return
 */
default List<Double> earth_latitude_range(double lat, double radius, double distance) {
      // Estimate the min and max latitudes within distance of a given location.
      double angle = distance / radius;
      double minlat = lat - angle;
      double maxlat = lat + angle;
      double rightangle = Math.PI / 2;
      // Wrapped around the south pole.
      if (minlat < -rightangle) {
        double overshoot = -minlat - rightangle;
        minlat = -rightangle + overshoot;
        if (minlat > maxlat) {
          maxlat = minlat;
        }
        minlat = -rightangle;
      }
      // Wrapped around the north pole.
      if (maxlat > rightangle) {
        double overshoot = maxlat - rightangle;
        maxlat = rightangle - overshoot;
        if (maxlat < minlat) {
          minlat = maxlat;
        }
        maxlat = rightangle;
      }
      List<Double> ret = new ArrayList<>();
      ret.add((minlat));
      ret.add((maxlat));
      return ret;
    }
/**
 * Calculate longitude range based on earths radius at a given point
 * @param lat
 * @param lng
 * @param earth_radius
 * @param distance
 * @return
 */
default List<Double> earth_longitude_range(double lat, double lng, double earth_radius, int distance) {
      // Estimate the min and max longitudes within distance of a given location.
      double radius = earth_radius * Math.cos(lat);
      double angle;
      if (radius > 0) {
        angle = Math.abs(distance / radius);
        angle = Math.min(angle, Math.PI);
      }
      else {
        angle = Math.PI;
      }
      double minlong = lng - angle;
      double maxlong = lng + angle;
      if (minlong < -Math.PI) {
        minlong = minlong + Math.PI * 2;
      }
      if (maxlong > Math.PI) {
        maxlong = maxlong - Math.PI * 2;
      }
      List<Double> ret = new ArrayList<>();
      ret.add((minlong));
      ret.add((maxlong));
      return ret;
    }
/**
 * Calculate earth radius at given latitude
 * @param latitude
 * @return
 */
default Double earth_radius(double latitude) {
      // Estimate the Earth's radius at a given latitude.
      // Default to an approximate average radius for the United States.
      double lat = Math.toRadians(latitude);
      double x = Math.cos(lat) / 6378137.0;
      double y = Math.sin(lat) / (6378137.0 * (1 - (1 / 298.257223563)));
      //Make sure earth's radius is in km , not meters
      return (1 / (Math.sqrt(x * x + y * y)))/1000;
    }
And use the distance calculation formula documented by google maps to calculate distance
https://developers.google.com/maps/solutions/store-locator/clothing-store-locator#outputting-data-as-xml-using-php
To search by kilometers instead of miles, replace 3959 with 6371.
For (Lat, Lng) = (37, -122) and a Markers table with columns lat and lng, the formula is:
SELECT id, ( 3959 * acos( cos( radians(37) ) * cos( radians( lat ) ) * cos( radians( lng ) - radians(-122) ) + sin( radians(37) ) * sin( radians( lat ) ) ) ) AS distance FROM markers HAVING distance < 25 ORDER BY distance LIMIT 0 , 20;