Comparative Taxable Income
For the years 2003 - 2006
Income
Wages and salaries Dividends and Interest Taxable refunds Alimony received Net business income (Loss) Net capital gain (Loss) Net rent income (Loss) Net partnership income (Allowable Loss) Other income (Loss) Total Income 2003 $100,000 1,000 500 5,000 11,000 2,000 1,000 11,000 2,000 $133,500 2004 $110,000 1,000 600 5,000 12,000 3,000 1,000 12,000 3,000 $147,600 2005 $120,000 1,200 700 5,000 13,000 4,000 1,200 13,000 4,000 $162,100 2006 $125,000 1,300 800 5,000 14,000 5,000 1,300 14,000 5,000 $171,400
Adjustments to gross income
IRA deduction Spouse's IRA deductions Moving expenses 1/2 of Self-employment tax Self-employed health insurance Keogh plan payments SEP contribution Alimony paid Other adjustments Total Adjustments $5,900 $127,600 $2,100 $145,500 $2,400 $159,700 $2,700 $168,700 1,000 1,100 1,200 1,300 900 1,000 1,200 1,400 $2,000 2,000
Adjusted gross income Itemized deductions
Medical Income taxes Property taxes Mortgage Interest Paid Charitable Contributions Casualty and Theft Losses Unreimbursed Moving Expenses Unreimbursed Employee Business Expenses Miscellaneous Deductions Total Itemized Deductions Allowable Exemptions Total Deductions and Exemptions
$500 5,000 2,000 2,500 500
$500 5,100 2,000 2,500 500
$500 5,200 2,000 2,500 500
$500 5,300 2,000 2,500 500
500 $10,500 7,800 $18,300 $109,300
500 $10,600 8,200 $18,800 $126,700
500 $10,700 8,400 $19,100 $140,600
500 $10,800 9,000 $19,800 $148,900
Taxable Income
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