2005 Tax Rates
2005 Tax Rates - Single Taxpayers - Standard Deduction $5,000
10% 0 – 7,300
15% 7,301 – 29,700
25% 29,701 – 71,950
28% 71,951 – 150,150
33% 150,151 – 326,450
35% Over 326,450
2005 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $10,000
10% 0 – 14,600
15% 14,601 – 59,400
25% 59,401 – 119,950
28% 119,951 – 182,800
33% 182,801 – 326,450
35% Over 326,450
2005 Tax Rates - Married Filing Separately - Standard Deduction $5,000
10% 0 – 7,300
15% 7,301 – 29,700
25% 29,701 – 59,975
28% 59,976 – 91,400
33% 91,401 – 163,225
35% Over 163,225
2005 Tax Rates - Head of Household - Standard Deduction $7,200
10% 1 – 10,450
15% 10,451 – 39,800
25% 39,801 – 102,800
28% 102,801 – 166,450
33% 166,451 – 326,450
35% Over 326,450
2005 Tax Rates - Estates & Trusts
15% 1 – 2,000
25% 2,001 – 4,700
28% 4,701 – 7,150
33% 7,151 – 9,750
35% Over 9,750


Miscellaneous 2005 Tax Rates
Personal Exemption $3,200
Business equipment expensing deduction $105,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2004 tax liability
Standard mileage rate for business driving 40.5 cents
Unearned income maximum for children before kiddie tax applies $800
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 employee contribution to SIMPLE retirement plans $10,000 if under age 50
$12,000 if 50 or older
401(k) maximum employee contribution limit $14,000 if under age 50
$18,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $1,500,000
Annual Exclusion for Gifts $11,000