Filing Status

Under 65

Over 65

Standard Deduction

Exemption

Over 65 or Blind  Additional

Single

$ 8,450

$ 9,700

$5,150

$3,300

$ 1,250

Head Of Household

$10,850

$12,100

$7,550

$3,300

$1,250

Married Filing Jointly

$16,900

$18,900

$10,300

$6,600

$2,000

Married Filing Separately

8,450

$9,700

$5,150

$3,300

$1,250

Qualified Widow(er)

$13,600

$14,600

$10,300

$3,300

$1,000

Earnings Ceiling for Social Security for 2006

* Under Full Retirement Age

* At Full Retirement Age

* Over Full Retirement Age

$12,480

$33,240

$Unlimited

Self-Employed Insurance Deduction

100%

Earned Income Credit Maximum

No Child $ 412,  (1) Child $2,747   ( 2) or more $4,536

Education Credits

Hope Credit Maximum $1,500, Lifetime Credit maximum $2,000, College Tuition & Fees Deduction $4,000 Maximum

Child Tax Credit Maximum

$1,000

Standard Business Auto Rate

Charitable Rate

Medical / Moving Rate

.445

.140

.180

Child's Unearned Income Limit

$1,700

Estate Tax Exclusion

$2,000,000

Gift Limit

$12,000

Adoption Credit

$10,960

Coverdell Education Contribution Limit

$2,000

Qualified Tuition Plan Gift Contribution Limit

$12,000

Retirement Contributions 2006

under age 50     over  age 50

Traditional IRA/Roth        $  4,000               $  5,000

401-K & 403-B Plans       $15,000               $20,000

Simple IRA Plans           $  10,000               $  12,500

SEP Plans 25% of  earned maximum compensation limit of $44,000