2005

2004

Standard Deductions

   Joint  (MFJ)

$10,000

$ 9,700

   Single

5,000

4,850

   Head of Household (HOH)

7,300

7,150

   Married Filing Separately (MFS)

5,000

4,850

   Additional for Elderly/Blind - Married

1,000

950

   Additional for Elderly/Blind - Married

1,250

1,200

   Taxpayer Claimed as Dependent

800

800

Personal/Dependent Exemption

$ 3,200

$ 3,100

Child Tax Credit

$ 1,000

$ 1,000

Beg./Ending of Personal Exemption

 Phase-out (Based n AGI)

   MFJ

$218,950 / 341,450

$214,050 / 336,550

   Single

145,950 / 268,450

142,700 / 265,200

   HOH

182,450 / 304,950

178,350 / 300,850

   MFS

109,475 / 170,725

107,025 / 168,275

Beginning of Itemized Deduction

 Phase-out (Based n AGI)

   MFJ, Single, HOH

$145,950

$142,700

   MFS

72,975

71,350

FICA/SE Tax maximum Earnings

$ 90,000

$ 87,900

Auto Standard Mileage Allowances

   Business

.405

.375

   Charitable

.14

.14

   Medical/Moving

.15

.14

Section 179 Depreciation

$105,000

$102,000

  Maximum Equipment Purchase

420,000

410,000