| |
|
3-Year Comparison
|
2007 |
2008 |
2009 |
Personal exemptions |
$3,400 |
$3,500 |
$3,650 |
Standard deduction
married filing jointly
head of household
single or separate |
10,700
7,850
5,350
|
10,900
8,000
5,450
|
11.400
8,350
5,700
|
Additional amount for aged or blind
married
single |
1,050
1,300
|
1,050
1,350
|
1,100
1,400
|
Kiddie tax exemption |
850 |
900 |
950 |
Gift tax exclusion
individual
non-citizen spouse |
12,000
125,000
|
12,000
128,000
|
13,000
133,000
|
Standard mileage rates
Business
Medical and moving
Charitable
July 1 to December 31, 2008
Business
Medical and moving
Charitable |
48.5¢
20.0¢
14.0¢
|
50.5¢
19.0¢
14.0¢
58.5¢
27.0¢
14.0¢
|
55.0¢
24.0¢
14.0¢
|
AMT exemption amount
married filing jointly
single |
66,250
44,350
|
69,950
46,200
|
70,950
46,700
|
TBD = to be determined (data not yet available).
Changes in AMT exemption amount due to legislation, not inflation adjustment. |
IRA contributions
under age 50
50 or older |
4,000
5,000
|
5,000
6,000
|
5,000
6,000
|
Roth IRA phase-out begins
single
married filing jointly |
99,000
156,000
|
101,000
159,000
|
105,000
166,000
|
401k contributions
under age 50
50 or older |
15,500
20,500
|
15,500
20,500
|
16,500
22,000
|
SIMPLE accounts |
10,500 |
10,500 |
11,500 |
Social security wage base |
97,500 |
102,000 |
106,800 |
Retirement savings contribution credit
Married filing jointly
50% credit up to
20% credit up to
10% credit up to
Head of household
50% credit up to
20% credit up to
10% credit up to
Other taxpayers
50% credit up to
20% credit up to
10% credit up to |
31,000
34,000
52,000
23,250
25,500
39,000
15,500
17,000
26,000
|
32,000
34,500
53,000
24,000
25,875
39,750
16,000
17,250
26,500
|
33,000
36,000
55,500
24,750
27,000
41,625
16,500
18,000
27,750
|
| |
