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2009 Tax Rates

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					Corporate Federal Income Tax Rates
Taxable Income $ 0 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,333,333 $ Tax 0 7,500 13,750 22,250 113,900 3,400,000 5,150,000 6,416,667 % on Excess 15% 25% 34% 39% 34% 35% 38% 35%

Federal Estate and Trust Income Tax Rates
Taxable Income $ 0 2,300 5,350 8,200 11,150 $ Tax 0 345 1,108 1,906 2,879 % on Excess 15% 25% 28% 33% 35%

FICA Rates
For 2009, the maximum salary for applying the 6.2% Social Security rate is $106,800, while the Medicare rate remains 1.45% and applies to all wages. Self-employed individuals pay employee and employer portions, but get a deduction for the employer portion. Payments totaling $1,700 or more to household employees are also subject to FICA taxes.

2009 TAX RATES
Effective January 1, 2009

Personal service corporations taxed at flat 35% rate.

MACRS Percentages (with half-year convention)
Year 1 2 3 4 5 6 7 8 5-year Property 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% — — 7-year Property 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46%

Benefits Limitations
The 401(k), 403(b) and 457 plan contribution limits increase to $16,500 in 2009. The limit increases to $49,000 for defined contribution plans, while the compensation limit for calculating plan contributions increases to $245,000. The annual limit increases to $195,000 for defined benefit plans.

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Individual Federal Income Tax Rates
(Other than long-term capital gains and qualified dividends) Single Taxable Income $ 0 8,350 33,950 82,250 171,550 372,950 $ Tax 0 835 4,675 16,750 41,754 108,216 % on Excess 10% 15% 25% 28% 33% 35%

Estate Tax Rates Individual Capital Gains Rate
Individual capital gains rates can vary from 0% to 28% depending upon the type of capital gains property sold, the holding period, the date acquired and the regular tax bracket the taxpayer falls within. See your tax consultant.
$ Taxable Amount Over 0 10,000 20,000 40,000 60,000 $ Tax 0 1,800 3,800 8,200 13,000 18,200 23,800 38,800 70,800 155,800 248,300 345,800 448,300 555,800 % on Excess 18 20 22 24 26 28 30 32 34 37 39 41 43 45 Year 2009 2010 2011 Exemption Amount $ 3,500,000 * repealed* reinstated @ $1,000,000 Year 2009 2010 2011 Applicable Credit Amount $ 1,455,800 * repealed* reinstated @ $345,800

Standard Deductions
Single Married Filing Jointly or Surviving Spouse Married Filing Separately Head of Household $ 5,700 $ 11,400 $ 5,700 $ 8,350

80,000 100,000 150,000 250,000 500,000 750,000

Married Filing Jointly or Surviving Spouse Taxable Income $ 0 16,700 67,900 137,050 208,850 372,950 $ Tax 0 1,670 9,350 26,638 46,742 100,895 % on Excess 10% 15% 25% 28% 33% 35%

Personal Exemptions
Exemption amount $ 3,650 The exemption amount is reduced by approximately 2% for each $2,500 by which the taxpayer’s adjusted gross income exceeds: Single Married Filing Jointly or Surviving Spouse Married Filing Separately Head of Household $ 166,800 $ 250,200 $ 125,100 $ 208,500

1,000,000 1,250,000 1,500,000

Married Filing Separately Taxable Income $ 0 8,350 33,950 68,525 104,425 186,475 $ Tax 0 835 4,675 13,319 23,371 50,448 % on Excess 10% 15% 25% 28% 33% 35%

* The gift tax exemption amount remains at $1 million for 2010.

Social Security Earnings Limits for Retired Workers
Retirement Age Earnings Limit $14,160 $37,680 None

Head of Household Taxable Income $ 0 11,950 45,500 117,450 190,200 372,950 $ Tax 0 1,195 6,228 24,215 44,585 104,893 % on Excess 10% 15% 25% 28% 33% 35%

Standard Mileage Rates
Business use of auto Charitable use Medical use Moving expense 55¢ 14¢ 24¢ 24¢ per per per per mile mile mile mile

Early Normal After normal


				
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