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Link to special CCH Tax Briefings on key topics from 2003:
 

CCH can assist you with stories, including interviews with CCH subject experts. Also, the CCH Whole Ball of Tax 2004 is available in print. Please contact:
 
Leslie Bonacum
(847) 267-7153
mediahelp@cch.com
 
Neil Allen
(847) 267-2179
allenn@cch.com

 
CCH Whole Ball of Tax 2004
Release (23) | Back to WBOT

CCH Whole Ball of Tax 2004

Contact: Leslie Bonacum, 847-267-7153, mediahelp@cch.com
Neil Allen, 847-267-2179, allenn@cch.com

 

2003—2004 TAX BRACKETS


Married Filing Jointly (& Surviving Spouse)

2004 Taxable Income

Tax Rate

2003 Taxable Income

Tax Rate

$0-$14,300

10%

$0-$14,000

10%

$14,300-$58,100

15%

$14,000-$56,800

15%

$58,100-$117,250

25%

$56,800-$114,650

25%

$117,250-$178,650

28%

$114,650-$174,700

28%

$178,650-$319,100

33%

$174,700-$311,950

33%

over $319,100

35%

over $311,950

35%


Married Filing Separately

2004 Taxable Income

Tax Rate

2003 Taxable Income

Tax Rate

$0-$7,150

10%

$0-$7,000

10%

$7,150-$29,050

15%

$7,000-$28,400

15%

$29,050-$58,625

25%

$28,400-$57,325

25%

$58,625-$89,325

28%

$57,325-$87,350

28%

$89,325-$159,550

33%

$87,350-155,975

33%

over $159,550

35%

over $155,975

35%


Single Filers

2004 Taxable Income

Tax Rate

2003 Taxable Income

Tax Rate

$0-$7,150

10%

$0-$7,000

10%

$7,150-$29,050

15%

$7,000-$28,400

15%

$29,050-$70,350

25%

$28,400-$68,800

25%

$70,350-$146,750

28%

$68,800-$143,500

28%

$146,750-$319,100

33%

$143,500-311,950

33%

over $319,100

35%

over $311,950

35%


Head of Household

2004 Taxable Income

Tax Rate

2003 Taxable Income

Tax Rate

$0-$10,200

10%

$0-$10,000

10%

$10,200-$38,900

15%

$10,000-$38,050

15%

$38,900-$100,500

25%

$38,050-$98,250

25%

$100,500-$162,700

28%

$98,250-$159,100

28%

$162,700-$319,100

33%

$159,100-$311,950

33%

over $319,100

35%

over $311,950

35%


Standard Deduction Amounts

Filing Status

2004

2003

Increase

Married Filing Jointly
(& Surviving Spouse)

$9,700

$9,500

$200

Married Filing Separately

$4,850

$4,750

$100

Single

$4,850

$4,750

$100

Head of Household

$7,150

$7,000

$150


Standard Deduction for Dependents ("Kiddie" Standard Deduction)

2004

2003

Increase

$800

$750

$50


Income Level At Which 3-Percent Itemized Deduction Limitation Takes Effect
(Adjusted Gross Income)

Filing Status

2004

2003

Increase

Married Filing Jointly
(& Surviving Spouse)

$142,700

$139,500

$3,200

Married Filing Separately

$71,350

$ 69,750

$1,600

Single

$142,700

$139,500

$3,200

Head of Household

$142,700

$139,500

$3,200


Personal Exemption Amounts

2004

2003

Increase

$3,100

$3,050

$50


Threshold for Personal Exemption Phaseout

Filing Status

2004

2003

Increase

Married Filing Jointly
(& Surviving Spouse)

$214,050

$209,250

$4,800

Married Filing Separately

$107,025

$104,625

$2,400

Single

$142,700

$139,500

$3,200

Head of Household

$178,350

$174,400

$3,950


Gift Tax Exemption

2004

2003

Increase

$11,000

$11,000

$0

 

Source: CCH INCORPORATED, 2004

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nb-04-07

       


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