Greater
of $750 or $250 plus earned income not to exceed regular standard deduction.
FICA Taxable Wage
$87,000
Age 62-64 Social Security Earned
Income Limit
$11,520
Kiddie Tax Unearned Income Limit
$1,500
Child Tax Credit
$1,000
Self-Employed Health Insurance
100%
Standard Mileage Rate
Business
36¢/Mi
Charitable
14¢/Mi
Medical and Moving
12¢/Mi
Qualified Education Expense
$250
Education
HOPE credit
$1,500
Lifetime Credit
$2,000
Deduction
$3,000
Annual Gift Tax Exclusion
$11,000
Student Loan Interest Deduction
$2,500
Estimated Tax Payments when AGI > $150,000 (based
on prior year tax liability)
110%
Maximum IRA Contribution
$3,000
age 50 or older add $500
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You should not rely upon any information contained herein for any purposes
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competent to practice accounting in your jurisdiction.
