2007 Tax Rates
2007 Tax Rates - Single Taxpayers - Standard Deduction $5,350
10%	0 . 7,825
15%	7,825 . 31,850
25%	31,850 . 77,100
28%	77,100 . 160,850
33%	160,850 . 349,700
35%	Over 349,700
2007 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $10,700
10%	0 . 15,650
15%	15,650 . 63,700
25%	63,700 . 128,500
28%	128,500 . 195,850
33%	195,850 . 349,700
35%	Over 349,700
2007 Tax Rates - Married Filing Separately - Standard Deduction $5,350
10%	0 . 7,825
15%	7,825 . 31,850
25%	31,850 . 64,250
28%	64,250 . 97,925
33%	97,925 . 174,850
35%	Over 174,850
2007 Tax Rates - Head of Household - Standard Deduction $7,850
10%	0 . 11,200
15%	11,200 . 42,650
25%	42,650 . 110,100
28%	110,100 . 178,350
33%	178,350 . 349,700
35%	Over 349,700
2007 Tax Rates - Estates & Trusts
15%	1 . 2,050
25%	2,051 . 4,850
28%	4,851 . 7,400
33%	7,401 . 10,050
35%	Over 10,050

Miscellaneous	2007 Tax Rates
Personal Exemption	$3,400
Business equipment expensing deduction	$112,000
Prior-year safe harbor for estimated taxes of higher-income	110% of your 2006 tax liability
Standard mileage rate for business driving	48.5 cents
Standard mileage rate for medical/moving driving	20 cents
Standard mileage rate for charitable driving	14 cents
Child Tax Credit	$1,000
Unearned income maximum for children before kiddie tax applies	$850
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 contribution for Traditional/Roth IRA	$4,000 if under age 50 $5,000 if 50 or older
Maximum employee contribution to SIMPLE IRA	$10,500 if under age 50 $13,000 if 50 or older
Maximum Contribution to SEP IRA	25% of compensation up to $45,000
401(k) maximum employee contribution limit	$15,500 if under age 50 $20,500 if 50 or older
Self-employed health insurance deduction	100%
Estate tax exemption	$2,000,000
Annual Exclusion for Gifts	$12,000