Yearly Tax Rate Comparisons				IRS Publications
Child Related Limits				Educational Limits
	2007	2006			2007	2006
Social Security Information				US Tax Treaties
Retirement Limits				Misc Tax Rates

Yearly Tax Rate Comparisons

Tax Rate - Single Taxpayer

	2007	2006	2005	2004
Standard Deduction	5,350	5,150	5,000	4,850
10%	0 - 7,825	0 – 7,550	0 – 7,300	0 – 7,150
15%	7,826 - 31,850	7,551 – 30,650	7,301 – 29,700	7,151 – 29,050
25%	31,851 - 77,100	30,651 – 74,200	29,701 – 71,950	29,051 – 70,350
28%	77,101 – 160,850	74,201 – 154,800	71,951 – 150,150	70,351 – 146,750
33%	160,851 – 349,700	154,801 – 336,550	50,151 – 326,450	146,751 – 319,100
35%	Over 349,700	Over 336,550	Over 326,450	Over 319,100

Tax Rates - Married Jointly & Surviving Spouses

	2007	2006	2005	2004
Standard Deduction	10,700	10,300	10,000	9,700
10%	0 - 15,650	0 - 15,100	0 - 14,600	0 - 14,300
15%	15,651 - 63,700	15,101 - 61,300	14,601 - 59,400	14,301 - 58,100
25%	63,701 - 128,500	61,301 - 123,700	59,401 - 119,950	58,101 - 117,250
28%	128,501 - 195,850	123,701 - 188,450	119,951 - 182,800	117,251 - 178,650
33%	195,851 - 349,700	188,451 - 336,550	182,801 - 326,450	178,651 - 319,100
35%	Over 349,7000	Over 336,550	Over 326,450	Over 319,100

Tax Rates - Married Filling Separately

	2007	2006	2005	2004
Standard Deduction	5,350	5,150	5,000	4,850
10%	0 - 7,825	0 - 7,550	0 - 7,300	0 - 7,150
15%	7,826 - 31,850	7,551 - 30,650	7,301 - 29,700	7,151 - 29,050
25%	31,851 - 64,250	30,651 - 61,850	29,701 - 59,975	29,051 - 58,625
28%	64,251 - 97,925	61,851 - 94,225	59,976 - 91,400	58,626 - 89,325
33%	97,926 - 174,850	94,226 - 168,275	91,401 - 163,225	89,326 - 159,550
35%	Over 174,850	Over 168,275	Over 163,225	Over 159,550

Tax Rates - Head of Household

	2007	2006	2005	2004
Standard Deduction	7,850	7,550	7,200	7,150
10%	1 - 11,200	1 - 10,750	1 - 10,450	1 - 10,200
15%	11,201 - 42,650	10,751 - 41,500	10,451 - 39,800	10,201 - 38,900
25%	42,651 - 110,100	41,501 - 106,00	39,801 - 102,800	38,901 - 100,500
28%	110,101 - 178,350	106,001 - 171,650	102,801 - 166,450	100,501 - 162,700
33%	178,351 - 349,700	171,651 - 326,450	166,451 - 326,450	162,701 - 319,100
35%	Over 349,700	Over 326,450	Pver 326,450	Over 319,100

Tax Rates - Estates & Trusts

	2007	2006	2005	2004
15%	1 - 2,150	1 - 2,050	1 - 2,000	1 - 1,950
25%	2,151 - 5,000	2,051 - 4,850	2,001 - 4,700	1,951 - 4,600
28%	5,001 - 7,650	4,851 - 7,400	4,701 - 7,150	4,601 - 7,000
33%	7,651 - 10,450	7,401 - 10,050	7,151 - 9,750	7,001 - 9,550
35%	Pver 10,450	Over 10,050	Over 9,750	Over 9,550

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Child Related Limits - 2006

Child Related Limits
2006	Single	Married	Married Filing Separately	Head of Household
Kiddie Tax Limit	$1,700	$1,700	$1,700	$1,700
Dependent Care Credit Expenditure Limit	$3,000 for One Child $6,000 for Two Children	$3,000 for One Child $6,000 for Two Children	$3,000 for One Child $6,000 for Two Children	$3,000 for One Child $6,000 for Two Children
Personal Exemption Phaseout	$156,400 - $278,900	$234,600 - $357,100	$117,300 - $178,550	$195,500 - $318,000
Child Tax Credit Phaseout	$75,000	$110,000 AGI	$55,000	$75,000
Education Credit Phaseout	$47,000 - $57,000	$94,000 - $114,000	$47,000 - $57,000	$47,000 - $57,000
Child Care Fringe Benefit Limit	$5,000	$5,000	$2,500	$5,000
Adoption Credit Limit	$11,390 Per Child, Phases Out Between $170,820 - $218,200	$11,390 Per Child, Phases Out Between $170,820 - $218,200	$11,390 Per Child, Phases Out Between $170,820 - $218,200	$11,390 Per Child, Phases Out Between $170,820 - $218,200

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Child Related Limits - 2007

Child Related Limits
2007	Single	Married	Married Filing Separately	Head of Household
Kiddie Tax Limit	$1,700	$1,700	$1,700	$1,700
Dependent Care Credit Expenditure Limit	$3,000 for One Child $6,000 for Two Children	$3,000 for One Child $6,000 for Two Children	$3,000 for One Child $6,000 for Two Children	$3,000 for One Child $6,000 for Two Children
Personal Exemption Phaseout	$156,400 - $278,900	$234,600 - $357,100	$117,300 - $178,500	$195,500 - $318,000
Child Tax Credit Phaseout	$75,000	$110,000 AGI	$55,000	$75,000
Education Credit Phaseout	$47,000 - $57,000	$94,000 - $114,000	$47,000 - $57,000	$47,000 - $57,000
Child Care Fringe Benefit Limit	$5,000	$5,000	$2,500	$5,000
Adoption Credit Limit	$11,390 Per Child, Phases Out Between $170,820 - $218,200	$11,390 Per Child, Phases Out Between $170,820 - $218,200	$11,390 Per Child, Phases Out Between $170,820 - $218,200	$11,390 Per Child, Phases Out Between $170,820 - $218,200

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Social Security Information

Social Security & Medicare	2007	2006	2005
Benefit Increase for Social Security Beneficiaries	3.30%	4.10%	2.70%
Earnings Subject to Social Security Tax	$97,500	$94,200	$90,000
Earnings Subject to Medicare Tax	No limit	No limit	No limit
Tax Rate for Employees	7.65%	7.65%	7.65%
Tax Rate for Self-Employeed	15.30%	15.30%	15.30%
Quarter of Coverage Earnings	$1,000	$970	$920
Earnings Limitation for Social Security Benefits:
Under Full Retirement Age (62 - 64): Year	$12,960	$12,480	$12,000
Under Full Retirement Age (62 - 64): Month	$1,080	$1,040	$1,000
Year of Attainment of Age 65: Year	$34,440	$33,240	$31,800
Year of Attainment of Age 65: Month	$2,870	$2,770	$2,650
Maximum Social Security benefit	$2,116/mo. (Age 65 and 10 months)	$2,053/mo. (Age 65 and 8 months)	$1,939/mo. (Age 65 and 6 months)
Supplemental Security Income for Individuals	$623	$603	$579
Supplemental Security Income for Married Couple	$934	$904	$869
SSI Resource Limitations for Individuals	$2,000	$2,000	$2,000
SSI Resource Limitations for Married Couple	$3,000	$3,000	$3,000
Medicare Part B Premium: Year (Standard Premium)	$1,122	$1,062	$938.40
Medicare Part B Premium: Month (Standard Premium)	$93.50	$88.50	$78.20
Death Benefit	$255	$255	$255

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Retirement Limits

	2007 Tax Rates
Maximum contribution for Traditional/Roth IRA	$4,000 if under age 50
	$5,000 if 50 or older
Traditional IRA Deduction Phaseout for Active Participants	Single: $50,000 - $60,000
	Married filing Jointly: $75,000 - $85,000
	Married filing Separately: $0 - $10,000
IRA Deduction for Phaseout for Spousal Contributions	Married filing Jointly: $150,000 - $160,000
Roth IRA Contribution Phaseout	Single: $95,000 - $110,000
	Married filing Jointly: $150,000 - $160,000
	Married filing Seperately: $0 - $10,000
Roth IRA Conversion Phaseout	Single: $100,000
	Married filing Jointly: $100,000
	Married filing Seperately: Ineligible
Maximum Employee Contribution to SIMPLE IRA	$10,500 if under age 50
	$13,000 if 50 or older
Maximum Contribution to SEP IRA	25% of eligible compensation up to $45,000
401(k) Maximum Employee Contribution Limit	$15,500 if under age 50
	$20,500 if 50 or older

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IRS Publications

The publications listed below are located on the IRS web site and require Adobe Acrobat to view. Visit the Adobe Web Site to install the latest version of Acrobat Reader or Click Here.

Publication 1	Your Rights As a Taxpayer
Publication 3	Armed Forces' Tax Guide
Publication 15	Circular E, Employer's Tax Guide
Publication 15A	Employer's Supplemental Tax Guide
Publication 17	Your Federal Income Tax
Publication 51	Circular A, Agricultural Employer's Tax Guide
Publication 54	Tax Guide for U.S. Citizens and Resident Aliens Abroad
Publication 80	Circular SS - Federal Tax Guide for Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands
Publication 225	Farmer's Tax Guide
Publication 334	Tax Guide for Small Business
Publication 463	Travel, Entertainment, Gift, and Car Expenses
Publication 501	Exemptions, Standard Deduction, and Filing Information
Publication 502	Medical and Dental Expenses
Publication 503	Child and Dependent Care Expenses
Publication 504	Divorced or Separated Individuals
Publication 505	Tax Withholding and Estimated Tax
Publication 509	Tax Calendars
Publication 510	Excise Taxes
Publication 513	Tax Information for Visitors to the U.S.
Publication 514	Foreign Tax Credit for Individuals
Publication 515	Withholding of Tax on Nonresident Aliens and Foreign Corporations
Publication 516	U.S. Government Civilian Employees Stationed Abroad
Publication 517	Social Security and Other Information for Members of the Clergy & Religious Workers
Publication 519	U.S. Tax Guide for Aliens
Publication 521	Moving Expenses
Publication 523	Selling Your Home
Publication 524	Credit for the Elderly or the Disabled
Publication 525	Taxable and Nontaxable Income
Publication 526	Charitable Contributions
Publication 527	Residential Rental Property (Including Rental of Vacation Homes)
Publication 529	Miscellaneous Deductions
Publication 530	Tax Information for First-Time Homeowners
Publication 531	Reporting Tip Income
Publication 535	Business Expenses
Publication 536	Net Operating Losses
Publication 537	Installment Sales
Publication 538	Accounting Periods and Methods
Publication 541	Partnerships
Publication 542	Corporations
Publication 544	Sales and other Dispositions of Assets
Publication 547	Casualties, Disasters, and Thefts
Publication 550	Investment Income and Expenses (Including Capital Gains and Losses)
Publication 552	Recordkeeping for Individuals
Publication 554	Older Americans' Tax Guide
Publication 555	Community Property
Publication 556	Examination of Returns, Appeal Rights, and Claims for Refund
Publication 557	Tax-Exempt Status for Your Organization
Publication 559	Survivors, Executors and Administrators
Publication 560	Retirement Plans for Small Business
Publication 564	Mutual Fund Distributions
Publication 570	Tax Guide for Individuals With Income from U.S. Possessions
Publication 571	Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations
Publication 575	Pension and Annuity Income
Publication 583	Starting a Business and Keeping Records
Publication 587	Business Use of Your Home (Including Use by Day-Care Providers)
Publication 590	Individual Retirement Arrangements (IRAs)(Including SEP-IRAs and SIMPLE IRAs)
Publication 593	Tax Highlights for U.S. Citizens and Residents Going Abroad
Publication 595	Tax Highlights for Commercial Fishermen
Publication 596	Earned Income Credit
Publication 598	Tax on Unrelated Business Income of Exempt Organizations
Publication 721	Tax Guide to U.S. Civil Service Retirement Benefits
Publication 901	U.S. Tax Treaties
Publication 907	Tax Highlights for Persons With Disabilities
Publication 915	Social Security and Equivalent Railroad Retirement Benefits
Publication 919	How Do I Adjust My Tax Withholding?
Publication 925	Passive Activity and At-Risk Rules
Publication 926	Household Employers Tax Guide
Publication 929	Tax Rules for Children and Dependents
Publication 936	Home Mortgage Interest Deduction
Publication 939	General Rule for Pensions and Annuities
Publication 946	How to Depreciate Property
Publication 950	Introduction to Estate and Gift Taxes
Publication 954	Tax Incentives for Empowerment Zones and Other Distressed Communities
Publication 957	Reporting Back Pay and Special Wage Payments to the Social Security Administration
Publication 967	The IRS Will Figure Your Tax
Publication 969	Medical Savings Accounts
Publication 970	Tax Benefits for Higher Education
Publication 1212	List of Original Issue Discount Instruments
Publication 1542	Per Diem Rates
Publication 1544	Reporting Cash Payments of Over $10,000

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Educational Limits - 2006

2006 Educational Limits (See IRS Publication 970, Tax Benefits for Education, for details on each item.)
2006	Single	Married	Married filing Separately	Head of Household
Educator Expense Deduction	$250 Per Teacher	$250 Per Teacher	$250 Per Teacher	$250 Per Teacher
Tuition and Fee Deduction Limits	$4,000 Phases Out Between $55,000 - $80,000	$4,000 Phases Out Between $130,000 - $160,000	$4,000 Phases Out Between $55,000 - $80,000	$4,000 Phases Out Between $55,000 - $80,000
Hope Credit (Note 2)	100% of first $1,100 in expenses, 50% of expenses $1,101 - $2,200; Up to $1,650 per eligible student. Phaseout: $45,000 - $55,000	100% of first $1,100 in expenses, 50% of expenses $1,101 - $2,200; Up to $1,650 per eligible student. Phaseout: $90,000 - $110,000	N/A	100% of first $1,100 in expenses, 50% of expenses $1,101 - $2,200; Up to $1,650 per eligible student. Phaseout: $45,000 - $55,000
Lifetime Learning Credit (Note 3)	20% of up to $10,000 in expenses - Phaseout: $45,000 - $55,000	20% of up to $10,000 in expenses - Phaseout: $90,000 - $110,000	N/A	20% of up to $10,000 in expenses - Phaseout: $45,000 - $55,000
Education Savings Bond Interest Exclusion	Phaseout - $63,100 - $78,100	Phaseout - $94,700 - $124,700	Phaseout - $63,100 - $78,100	Phaseout - $63,100 - $78,100
Student Loan Interest Limits	$2,500 - Phases Out Between $50,000 - $65,000	$2,500 - Phases Out Between $105,000 - $135,000	N/A	$2,500 - Phases Out Between $50,000 - $65,000
Mileage	44-1/2 cents per mile	44-1/2 cents per mile	44-1/2 cents per mile	44-1/2 cents per mile
Coverdell Education Savings Account	$2,000 per Beneficiary Phases Out Between $95,000 - $110,000	$2,000 per Beneficiary Phases Out Between $190,000 - $220,000	$2,000 per Beneficiary Phases Out Between $95,000 - $110,000	$2,000 per Beneficiary Phases Out Between $95,000 - $110,000
Qualified Tuition Programs (529 Plans)	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.
Employer Provided Educational Assistance	$5,250	$5,250 each	$5,250	$5,250

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Educational Limits - 2007

2007 Educational Limits (See IRS Publication 970, Tax Benefits for Education, for details on each item.)
2007	Single	Married	Married filing Separately	Head of Household
Educator Expense Deduction	$250 Per Teacher	$250 Per Teacher	$250 Per Teacher	$250 Per Teacher
Tuition and Fee Deduction Limits	$4,000 Phases Out Between $55,000 - $80,000	$4,000 Phases Out Between $130,000 - $130,000	$4,000 Phases Out Between $55,000 - $80,000	$4,000 Phases Out Between $55,000 - $80,000
Hope Credit (Note 2)	100% of first $1,100 in expenses, 50% of expenses $1,101 - $2,200; Up to $1,650 per eligible student. Phaseout: $45,000 - $55,000	100% of first $1,100 in expenses, 50% of expenses $1,101 - $2,200; Up to $1,650 per eligible student. Phaseout: $90,000 - $110,000	N/A	100% of first $1,100 in expenses, 50% of expenses $1,101 - $2,200; Up to $1,650 per eligible student. Phaseout: $45,000 - $55,000
Lifetime Learning Credit (Note 3)	20% of up to $10,000 in expenses - Phaseout: $45,000 - $55,000	20% of up to $10,000 in expenses - Phaseout: $90,000 - $110,000	N/A	20% of up to $10,000 in expenses - Phaseout: $45,000 - $55,000
Education Savings Bond Interest Exclusion	Phaseout - $65,600 - $80,600	Phaseout - $98,400 - $128,400	Phaseout - $65,600 - $80,600	Phaseout - $65,600 - $80,600
Student Loan Interest Limits	$2,500 - Phases Out Between $50,000 - $65,000	$2,500 - Phases Out Between $105,000 - $135,000	N/A	$2,500 - Phases Out Between $50,000 - $65,000
Mileage	44-1/2 cents per mile	44-1/2 cents per mile	44-1/2 cents per mile	44-1/2 cents per mile
Coverdell Education Savings Account	$2,000 per Beneficiary Phases Out Between $95,000 - $110,000	$2,000 per Beneficiary Phases Out Between $190,000 - $220,000	$2,000 per Beneficiary Phases Out Between $95,000 - $110,000	$2,000 per Beneficiary Phases Out Between $95,000 - $110,000
Qualified Tuition Programs (529 Plans)	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.	Non-Deductible on Federal; May be deductible for State. Limit - College Costs.
Employer Provided Educational Assistance	$5,250	$5,250 each	$5,250	$5,250

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US Tax Treaties

Signed Treaties
Country	Signed	Income tax Treaty	Technical Explanation
Australia	1982	Income Tax Treaty with Australia, 1982 Treaty (PDF)	(PDF)
Australia Protocol	2001	Australia Protocol (PDF)	(PDF)
Austria	1996	Income Tax Treaty with Austria, 1996 (PDF)	-
Barbados	1984	Income Tax Treaty with Barbados, 1984 (PDF)	(PDF)
Belgium	1970	Income Tax Treaty with Belgium, 1970 (PDF)	(PDF)
Canada	1980	Income Tax Treaty with Canada, 1980 (PDF)	(PDF)
China	1984	Income Tax Treaty with China, 1984 (PDF)	(PDF)
Cyprus	1984	Income Tax Treaty with Cyprus, 1984 (PDF)	(PDF)
Czech Republic	1993	Income Tax Treaty with Czech Republic, 1993 (PDF)	(PDF)
Denmark	1948	Income Tax Treaty with Denmark, 1948 (PDF)	-
Denmark	2000	Income Tax Treaty with Denmark, 2000 (PDF)	(PDF)
Egypt	1980	Income Tax Treaty with Egypt, 1980 (PDF)	(PDF)
Estonia	1998	Income Tax Treaty with Estonia, 1998 (PDF)	(PDF)
Finland	1989	Income Tax Treaty with Finland, 1989 (PDF)	(PDF)
France	1994	Income Tax Treaty with France, 1994 (PDF)	(PDF)
Germany	1989	Income Tax Treaty with Germany, 1989 (PDF)	(PDF)
Greece	1950	Income Tax Treaty with Greece, 1950 (PDF)	-
Hungary	1979	Income Tax Treaty with Hungary, 1979 (PDF)	(PDF)
Iceland	1975	Income Tax Treaty with Iceland, 1975 (PDF)	(PDF)
India	1989	Income Tax Treaty with India, 1989 (PDF)	(PDF)
Indonesia	1988	Income Tax Treaty with Indonesia, 1988 (PDF)	(PDF)
Ireland	1997	Income Tax Treaty with Ireland, 1997 (PDF)	(PDF)
Israel	1975	Income Tax Treaty with Israel, 1975 (PDF)	(PDF)
Italy	1984	Income Tax Treaty with Italy, 1984 (PDF)	(PDF)
Jamaica	1980	Income Tax Treaty with Jamaica, 1980 (PDF)	(PDF)
Japan	1971	Income Tax Treaty with Japan, 1971 (PDF)	(PDF)
	2003	Income Tax Treaty , (PDF)	-
Japan Protocol	2003	Japan Protocol, 2003 (PDF)	-
Kazakhstan	1993	Income Tax Treaty with Kazakhstan, 1993 (PDF)	-
Korea	1976	Income Tax Treaty with Korea, 1976 (PDF)	(PDF)
Latvia	1998	Income Tax Treaty with Latvia, 1998 (PDF)	(PDF)
Lithuania	1998	Income Tax Treaty with Lithuania, 1998 (PDF)	(PDF)
Luxembourg	1962	Income Tax Treaty with Luxembourg, 1962 (PDF)	-
	2001	Income Tax Treaty with Luxembourg, 2001 (PDF)	-
Mexico	1992	Income Tax Treaty with Mexico, 1992 (PDF)	(PDF)
	2003	Income Tax Treaty with Mexico, 2003 (PDF)	(PDF)
Morocco	1977	Income Tax Treaty with Morocco, 1977 (PDF)	(PDF)
Netherlands	1992	Income Tax Treaty with Netherlands, 1992 (PDF)	(PDF)
New Zealand	1982	Income Tax Treaty with New Zealand, 1982 (PDF)	-
Norway	1971	Income Tax Treaty with Norway, 1971 (PDF)	-
Pakistan	1957	Income Tax Treaty with Pakistan, 1957 (PDF)	-
Philippines	1976	Income Tax Treaty with Philippines, 1976 (PDF)	-
Poland	1974	Income Tax Treaty with Poland, 1974 (PDF)	-
Portugal	1994	Income Tax Treaty with Portugal, 1994 (PDF)	-
Romania	1973	Income Tax Treaty with Romania, 1973 (PDF)	-
Russia	1992	Income Tax Treaty with Russia, 1992 (PD	-
Slovak Republic	1993	Income Tax Treaty with Slovak Republic, 1993 (PDF)	-
Slovenia	1999	Income Tax Treaty with Slovenia, 1999 (PDF)	(PDF)
South Africa	1997	Income Tax Treaty with South Africa, 1997 (PDF)	(PDF)
Spain	1990	Income Tax Treaty with Spain, 1990 (PDF)	-
Sweden	1994	Income Tax Treaty with Sweden, 1994 (PDF)	-
Switzerland	1996	Income Tax Treaty with Switzerland, 1996 (PDF)	(PDF)
Thailand