| 2006 Tax Rates - Single Taxpayers - Standard Deduction $5,150 | 2004 Rates 2005 Rates |
|
| 10% | $0 - $7,550 | |
| 15% | $7,551 - $30,650 | |
| 25% | $30,651 - $74,200 | |
| 28% | $74,201 - $154,800 | |
| 33% | $154,801 - $336,550 | |
| 35% | Over 336,550 | 2006 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $10,300 |
| 10% | $0 - $15,100 | |
| 15% | $15,101 - $61,300 | |
| 25% | $61,301 - $123,700 | |
| 28% | $123,701 - $188,450 | |
| 33% | $188,451 - $336,550 | |
| 35% | Over 336,550 | 2006 Tax Rates - Married Filing Separately - Standard Deduction $5,150 |
| 10% | $0 - $7,550 | |
| 15% | $7,551 - $30,650 | |
| 25% | $30,651 - $61,850 | |
| 28% | $61,851 - $94,225 | |
| 33% | $94,226 - $168,275 | |
| 35% | Over 168,275 | |
| 2006 Tax Rates - Head of Household - Standard Deduction $7,550 | ||
| 10% | $1 - $10,750 | |
| 15% | $10,751 - $41,500 | |
| 25% | $41,501 - $106,000 | |
| 28% | $106,001 - $171,650 | |
| 33% | $171,651 - $326,450 | |
| 35% | Over 336,550 | |
| 2006 Tax Rates - Estates & Trusts | ||
| 15% | $1 - $2,050 | |
| 25% | $2,051 - $4,850 | |
| 28% | $4,851 - $7,400 | |
| 33% | $7,401 - $10,050 | |
| 35% | Over 10,050 | |
| Miscellaneous | 2006 Tax Rates |
| Personal Exemption | $3,300 |
| Business equipment expensing deduction | $108,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2005 tax liability |
| Standard mileage rate for business driving | 44.5 cents |
| Standard mileage rate for medical/moving driving | 18 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $1,000 |
| Unearned income maximum for children before kiddie tax applies | $850 |
| Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket | 5% |
| Maximum capital gains tax rate for taxpayers above the 15% bracket | 15% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles | 28% |
| Maximum contribution for Traditional/Roth IRA | $4,000 if under age 50 $5,000 if 50 or older |
| Maximum employee contribution to SIMPLE IRA | $10,000 if under age 50 $12,500 if 50 or older |
| Maximum Contribution to SEP IRA | 25% of compensation up to $44,000 |
| 401(k) maximum employee contribution limit | $15,000 if under age 50 $20,000 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $2,000,000 |
| Annual Exclusion for Gifts | $12,000 |
