| 2005 Tax Rates - Single Taxpayers - Standard Deduction $5,000 | |
| 10% | 0 – 7,300 |
| 15% | 7,301 – 29,700 |
| 25% | 29,701 – 71,950 |
| 28% | 71,951 – 150,150 |
| 33% | 150,151 – 326,450 |
| 35% | Over 326,450 | 2005 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $10,000 |
| 10% | 0 – 14,600 |
| 15% | 14,601 – 59,400 |
| 25% | 59,401 – 119,950 |
| 28% | 119,951 – 182,800 |
| 33% | 182,801 – 326,450 |
| 35% | Over 326,450 | 2005 Tax Rates - Married Filing Separately - Standard Deduction $5,000 |
| 10% | 0 – 7,300 |
| 15% | 7,301 – 29,700 |
| 25% | 29,701 – 59,975 |
| 28% | 59,976 – 91,400 |
| 33% | 91,401 – 163,225 |
| 35% | Over 163,225 |
| 2005 Tax Rates - Head of Household - Standard Deduction $7,200 | |
| 10% | 1 – 10,450 |
| 15% | 10,451 – 39,800 |
| 25% | 39,801 – 102,800 |
| 28% | 102,801 – 166,450 |
| 33% | 166,451 – 326,450 |
| 35% | Over 326,450 |
| 2005 Tax Rates - Estates & Trusts | |
| 15% | 1 – 2,000 |
| 25% | 2,001 – 4,700 |
| 28% | 4,701 – 7,150 |
| 33% | 7,151 – 9,750 |
| 35% | Over 9,750 |
| Miscellaneous | 2005 Tax Rates |
| Personal Exemption | $3,200 |
| Business equipment expensing deduction | $105,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2004 tax liability |
| Standard mileage rate for business driving | 40.5 cents |
| Unearned income maximum for children before kiddie tax applies | $800 |
| Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket | 5% |
| Maximum capital gains tax rate for taxpayers above the 15% bracket | 15% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles | 28% |
| Maximum employee contribution to SIMPLE retirement plans | $10,000 if under
age 50 $12,000 if 50 or older |
| 401(k) maximum employee contribution limit | $14,000 if under
age 50 $18,000 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $1,500,000 |
| Annual Exclusion for Gifts | $11,000 |