2004

Minimum Filing Requirements

and Exemption/Deduction Amounts*

Filing Status

Under 65

Over 65

Standard Deduction

Exemption

Over 65 or Blind  Additional

Single

$ 7,950

$ 9,150

$4,850

$3,100

$ 1,200

Head Of Household

$10,250

$11,450

$7,150

$3,100

$1,200

Married Filing Jointly

$15,900

$17,800

$9,700

$6,200

$1,900

Married Filing Separately

$7,950

$9,150

$4,850

$3,100

$1,200

Qualified Widow(er)

$12,800

$13,750

$9,700

$3,100

$950


Other Helpful 2004 Information

Earnings Ceiling for Social Security

Under 65   $11,640  Over 65 Unlimited

Child's Unearned Income Limit

$ 800

Self-Employed Insurance Deduction

100%

Earned Income Credit Maximum

No Child $ 390,  (1) Child $2,604   ( 2) or more $4,300,

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

37.5 cents per mile

Charitable Auto Use

14 cents per mile

Medical or Moving Auto Use

14 cents per mile

Retirement Contributions 2004

under age 50     over  age 50

Traditional IRA/Roth        $  4,000               $  4,500

401-K & 403-B Plans       $14,000               $18,000

Simple IRA Plans           $  10,000               $  12,000

SEP Plans 25% of  earned maximum compensation limit of $210,000



2018 Helpful Tax Information


2017 Helpful Tax Information


2016 Helpful Tax Information


2015 Helpful Tax Information


2014 Helpful Tax Information


2013 Helpful Tax Information


2012 Helpful Tax Information

2011 Helpful Tax Information

2010 Helpful Tax Information

2009 Helpful Tax Information

2008 Helpful Tax Information

2007 Helpful Tax Information

2006 Helpful Tax Information

2005 Helpful Tax Information

2003 Helpful Tax Information


AVOIDING AN AUDIT






IMPORTANT TAX ARTICLES



2018 Client Tax Letter




Annual 2015 Tax Newsletter
What's New in 2015



2014 Client Letter What's New in 2014...


TAX COURT CASES



W-2 / 1099 Problems



S-Corp Employee Issue



Earned Income Tax Credit Issue








note:* certain personal tax situations may alter amounts shown