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| Filing Status | Age | Income |
| Single | under 65 | $9,500 |
| 65 or older | $10,950 | |
| Head of Household | under 65 | $12,200 |
| 65 or older | $13,650 | |
| Married, filing jointly | under 65 (both spouses) | $19,000 |
| 65 or older (one spouse) | $20,150 | |
| 65 or older (both spouses) | $21,300 | |
| Married, filing separately | any age | $3,700 |
| Qualifying widow(er) with dependent child | under 65 | $15,300 |
| 65 or older | $16,450 |
| Filing Status | Amount |
| Single | $5,800 |
| Married filing joint returns/Qualifying Widow(er) | $11,600 |
| Head of household | $8,500 |
| Married, filing separate return | $5,800 |
| Dependent standard deduction minimum | $950 or Earned income + $300 (but not more than the regular standard deduction amount, generally $5,800). |
| Personal and Dependent Amount | $3,700 |
| Casualty Loss (AGI Threshold) | Max. 20,000 (10,000 MFS) |
| Medical Deduction (AGI Threshold) | 7.5% |
| Miscellaneous Itemized (AGI Deduction Floor) | 2% |
| For taxpayers in higher brackets | 15% |
| For taxpayers in the 10% or 15% bracket | 0% |
| High Rate: | |
 Collectibles (coins, art, antiques) |
28% |
| Recaptured gain on real estate (Sec. 1250 gain) |
25% |
| Dividends, qualified (Post-December 31, 2002) |
15% |
| Fringe Benefit: Employer-provided passes and vehicles | $230/mo. |
| Fringe Benefit: Qualified parking limit | $230/mo. |
| Business Mileage Rate | January 1st though June 30th = $0.51, July 1st through December 31st $0.55 1/2 |
| Charitable Mileage Rate | $0.14 |
| Medical and Moving Mileage Rate | January 1st though June 30th = $0.19, July 1st through December 31st $0.23 1/2 |
| Depreciation component of Standard Mileage Rate | $0.23 |
| High Cost Per Diem Travel Rate | $242 |
| Low Cost Per Diem Travel Rate | $163 |
| Maximum Annual Benefit for Defined Benefit Plan | $200,000 |
| Maximum Annual Contribution Defined Contribution Plan | $50,000 |
| Highly Compensated Employee Definition (In general) | $115,000 |
| SEP De minimis Compensation Amount | $550 |
| SEP Nondiscrimination Compensation Amount | $245,000 |
| 401(k) Maximum Compensation Amount | $250,000 |
| 401(k) Maximum Exclusion (In general) | $17,000 |
| IRA Deduction Limit (In general) | $5,000 under 50 years old, $6,000 over 50 years old |
| Catch-up Contributions (Extra amount for individuals over age 50): | |
| Traditional and Roth IRAs |
$1000 total |
| SIMPLEs | $2,500 |
| 401(k), 403(b) and 457 Plans |
$5,500 |
| SIMPLE Contribution Limit | $11,500 |
| Saver's Tax Credit (Maximum) | MFJ $2,000, All others $1,000 |
| Employer's Start-up Tax Credit (For establishing retirement plan) | $500 |
| Annual Gift Tax Exclusion Amount (per person) | $26,000 MFJ, $13,00 All Others |
| State Death Tax Threshold Amount | $5,120,000 |
| Estate/Gift Tax Rate (before phase-out) | 35% |
| Unified Credit | $1,772,800 |
| Soc. Sec. (Self-employed) Combined Rate (OASDI + Medicare) | 13.3% |
| Soc. Sec. (Employer or Employee) Rate (OASDI + Medicare) | 5.65% |
| OASDI Maximum Base | $110,100 |
| Medicare Rate | 1.45% |
| Social Security Rate | 6.2% |
| FUTA Wage Base | $7,000 |
| Nanny Tax Threshold | $1,800 |
| Hope Scholarship Credit - now for 1st-4th years of college | Up to $2,500/up to 40% is refundable |
| Lifetime Learning Credit - all years of post-secondary education and for courses to acquire or improve job skills | $2,000 |
| Coverdell Education Savings Account Contribution | $2,000 |
| Higher Education Deduction | $4,000 |
| Student Loan Interest Deduction | $2,500 |
| U.S. Savings Bond Interest Exclusion (phase-out range): | |
| Married, filing joint return |
$105,100 - $135,100 |
| Single, Head of Household |
$70,100 - $85,100 |
| Married filing separate return |
$0 |
| Teacher's Classroom Expense Deduction | $250 This may be going away |
| Failure to File Return | 5% per month (max 25%) of tax due |
| Failure to Pay Tax | 0.5% per month (max 25%) of tax due |
| Substantial Understatement of Tax (greater than $5,000 or 10% of the proper tax) |
10% of the underpayment attributable to the understatement |
| Joint Filers | $500,000 |
| Single Filers | $250,000 |
| 10% bracket ends at- |
15% bracket ends at- |
25% bracket ends at- |
28% bracket ends at- |
33% bracket ends at- |
35% bracket ends at- | |
| Married filing separately | $8,500 | $34,500 | $69,675 | $106,150 | $189,575 | Over $189,575 |
| Single | $8,500 | $34,500 | $83,600 | $174,400 | $379,150 | Over $379,150 |
| Head of Household | $12,150 | $46,250 | $119,400 | $193,350 | $379,150 | Over $379,150 |
| Married filing jointly or Qualifying widow(er) | $17,000 | $69,000 | $139,350 | $212,300 | $379,150 | Over $379,150 |
| With 1 qualifying child | $3,094 |
| With 2 qualifying children | $5,112 |
| With 3 qualifying children | $5,751 |
| No qualifying child | $464 |
| With no children | $13,651 |
| With one child | $36,051 |
| With two children | $40,951 |
| With three children | $44,001 |
| With no children | $18,751 |
| With one child | $41,151 |
| With two children | $46,001 |
| With three children | $49,079 |
