CCH Whole Ball of Tax 2004

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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