Standard Deduction  -  Individual

$ 10,300

Standard Deduction  -  Married Filing Joint

$   7,550

Standard Deduction  -  Head of Household

$   5,150

Maximum IRA Deductible Contribution

$   4,500

Maximum 401K Deductible Contribution

$ 15,000

Teacher’s Expense Deduction

$ 250.00 per year

Business Use Mileage Rates

$ .445 per mile

Medical and Moving Mileage

$ .18 per mile

Miles Driven for Charitable Purposes

$ .14 per mile

Telephone Tax Refund (depending on number of exemptions)

$ 30 - 60

Capital Gains Rates:

          Long Term (Taxpayer in 10-15% bracket)

5%

          General Rate (Short Term)

15%

          High Rate (Art/Collectibles)

28%

Student Loan Interest Deduction Limit

$   2,500

Hope Education Credit

$   1,600

Lifetime Learning Credit

$   2,000

Section 179 Deduction Limit

$108,000

Health Savings Account Maximum Contribution

$   2,850 Indiv

$   5,650 Family

Donations from IRA to Charity for those 70 1/2 or older

$100,000 max/year