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Special Resources from CCH for Tax Legislation

CCH INCORPORATED, May 22, 2003

Single individual
Age 65
$30,000 of AGI, including $3,000 in dividend income

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	30,000	30,000
Std. Deduction	5,900	5,900
Personal Exemptions	3,050	3,050
	____________	____________
Taxable Income	$21,050	21,050
Tax	2,508	2,858	$350	1.17%

Head of Household
One child under age 17
$30,000 of income

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	30,000	30,000
Std. Deduction	7,000	7,000
Personal Exemptions	6,100	6,100
	____________	____________
Taxable Income	16,900	16,900
Tax	2,035	2,035
Child credit	(1,000)	(600)	400
	____________	____________	____________
Tax after credits	1,035	1,435	400	1.33%

Married couple
Two children under age 17
$50,000 of income

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	50,000	50,000
Std. Deduction	9,500	7,950
Personal Exemptions	12,200	12,200
	____________	____________
Taxable Income	$28,300	29,850
Tax	3,545	3,878	333
Child Credit	(2,000)	(1,200)	800
	____________	____________	____________
Tax after credits	1,545	2,678	1,133	2.27%

Married couple
T wo children under age 17
$50,000 of income, income includes $2,000 of capital gains

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	50,000	50,000
Std. Deduction	9,500	7,950
Personal Exemptions	12,200	12,200
	____________	____________
Taxable Income	$28,300	29,850
Tax	3,345	3,778	433
Child Credit	(2,000)	(1,200)	800
	____________	____________	____________
Tax after credits	1,345	2,578	1,233	2.47%

Single taxpayer
No children
$50,000 of income

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	50,000	50,000
Std. Deduction	4,750	4,750
Personal Exemptions	3,050	3,050
	____________	____________
Taxable Income	$42,200	42,200
Tax	7,360	7, 686	$326	.65%

Single taxpayer
No children
$50,000 of income which includes $3,000 in capital gains

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	50,000	50,000
Std. Deduction	4,750	4,750
Personal Exemptions	3,050	3,050
	____________	____________
Taxable Income	$42,200	42,200
Tax	7,060	7, 476	$416	.83%

Married couple
T two children under age 17
$100,000 of income, $15,000 of itemized deductions

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	100,000	100,000
Itemized Deductions	15,000	15,000
Personal Exemptions	12,200	12,200
	____________	____________
Taxable Income	$72,800	72,800
Tax	11,820	13,362	1,542
Child Credit	(2,000)	(1,200)	800
	____________	____________	____________
Tax after credits	9,820	12,162	2,342	2.34%

Married couple
Two children under age 17
$100,000 of income, $15,000 of itemized deductions. Income includes $5,000 in capital gains.

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	100,000	100,000
Itemized Deductions	15,000	15,000
Personal Exemptions	12,200	12,200
	____________	____________
Taxable Income	$72,800	72,800
Tax	11,320	13,012	1,692
Child Credit	(2,000)	(1,200)	800
	____________	____________	____________
Tax after credits	9,320	11,812	2,492	2.49%

Married couple
Two children under age 17
$100,000 of income, $15,000 of itemized deductions. Income includes $5,000 in dividends.

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	100,000	100,000
Itemized Deductions	15,000	15,000
Personal Exemptions	12,200	12,200
	____________	____________
Taxable Income	$72,800	72,800
Tax	11,320	13,362	2,042
Child Credit	(2,000)	(1,200)	800
	____________	____________	____________
Tax after credits	9,320	12,162	2,842	2.84%

Single individual
No children
$100,000 of income including $3,000 of dividend income; $15,000 of itemized deductions

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	100,000	100,000
Itemized Deductions	15,000	15,000
Personal Exemptions	3,050	3,050
	____________	____________
Taxable Income	$81,950	81,950
Tax	17,302	18,813	1,511	1.51%

Married couple
Two children under age 17
$300,000 of income, including $10,000 of dividend income and $50,000 of itemized deductions.

	New Law	Old Law	Savings	% of AGI
Adjusted Gross Income	300,000	300,000
Itemized Deductions	45,185	45,185
Personal Exemptions	3,172	3,172
	____________	____________
Taxable Income	251,643	251,643
Tax	62,688	69,607	6,919
Child Credit	(0)	(0)	0
	____________	____________	____________
Tax after credits	62,688	69,607	6,919	2.31%

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