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 © Copyright, 2007, Jaxworks, All Rights Reserved. Since 1996, JaxWorks has offered a suite of Free Excel workbooks and spreadsheets, and ass documents, that cover a number of financial, accounting and sales functions. These are invalua Also included Free are: - business plan tools, including spreadsheets and excellent instructions - Excel functions glossary and guide; - free training courses for most Microsoft Office applications. These guides are in PDF format and rival commercial books! - comprehensive list of acronyms, ratios and formulas in customer financial analysis, and financial terms; - suite of online calculators, including, breakeven analysis, productivity analysis, business evaluation; - Altman Z-Score (covering publicly and privately held firms, and small businesses); - and payroll analysis. If you are involved in financial analysis at any level, or want to learn more about MS Excel and suite this site is invaluable. JaxWorks Small Business Spreadsheet Factory spreadsheets, and associated MS Word, PDF and HTML ons. These are invaluable small business tools. uides are in about MS Excel and other applications in the Office sheet Factory