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CCH can assist you with stories, including interviews with CCH subject experts.
Also, the 2006 CCH Whole Ball of Tax is available in print. Please
contact:
Leslie Bonacum
(847) 267-7153
mediahelp@cch.com
Neil Allen
(847) 267-2179
neil.allen@wolterskluwer.com
Link to special CCH Tax Briefings on key topics from 2005:
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2006 CCH Whole Ball of Tax
2005 - 2006 Tax Brackets
Married Filing Jointly (& Surviving
Spouse)
2006 Taxable Income
|
Tax Rate
|
2005 Taxable Income
|
Tax Rate
|
$0-$15,100
|
10%
|
$0-$14,600
|
10%
|
$15,100-$61,300
|
15%
|
$14,600-$59,400
|
15%
|
$61,300-$123,700
|
25%
|
$59,400-$119,950
|
25%
|
$123,700-$188,450
|
28%
|
$119,950-$182,800
|
28%
|
$188,450-$336,550
|
33%
|
$182,800-$326,450
|
33%
|
over $ 336,550
|
35%
|
over $326,450
|
35%
|
Married Filing Separately
2006 Taxable Income
|
Tax Rate
|
2005 Taxable Income
|
Tax Rate
|
$0-$7,550
|
10%
|
$0-$7,300
|
10%
|
$7,550-$30,650
|
15%
|
$7,300-$29,700
|
15%
|
$30,650-$61,850
|
25%
|
$29,700-$59,975
|
25%
|
$61,850-$94,225
|
28%
|
$59,975-$91,400
|
28%
|
$94,225-$168,275
|
33%
|
$91,400-$163,225
|
33%
|
over $168,275
|
35%
|
over $163,225
|
35%
|
Single Filers
2006 Taxable Income
|
Tax Rate
|
2005 Taxable Income
|
Tax Rate
|
$0-$7,550
|
10%
|
$0-$7,300
|
10%
|
$7,550-$30,650
|
15%
|
$7,300-$29,700
|
15%
|
$30,650-$74,200
|
25%
|
$29,700-$71,950
|
25%
|
$74,200-$154,800
|
28%
|
$71,950-$150,150
|
28%
|
$154,800-$336,550
|
33%
|
$150,150-$326,450
|
33%
|
over $ 336,550
|
35%
|
over $326,450
|
35%
|
Head of Household
2006 Taxable Income
|
Tax Rate
|
2005 Taxable Income
|
Tax Rate
|
$0-$10,750
|
10%
|
$0-$10,450
|
10%
|
$10,750-$41,050
|
15%
|
$10,450-$39,800
|
15%
|
$41,050-$106,000
|
25%
|
$39,800-$102,800
|
25%
|
$106,000-$171,650
|
28%
|
$102,800-$166,450
|
28%
|
$171,650-$336,550
|
33%
|
$166,450-$326,450
|
33%
|
over $336,550
|
35%
|
over $326,450
|
35%
|
Standard Deduction Amounts
Filing Status
|
2006
|
2005
|
Increase
|
Married Filing Jointly
(& Surviving Spouse)
|
$10,300
|
$10,000
|
$300
|
Married Filing Separately
|
$ 5,150
|
$ 5,000
|
$150
|
Single
|
$ 5,150
|
$ 5,000
|
$150
|
Head of Household
|
$ 7,550
|
$ 7,300
|
$250
|
Standard Deduction for Dependents (“Kiddie”
Standard Deduction)
2006
|
2005
|
Increase
|
$850
|
$800
|
$50
|
Income Level At Which 3-Percent Itemized
Deduction Limitation Takes Effect
(Adjusted Gross Income)
Filing Status
|
2006
|
2005
|
Increase
|
Married Filing Jointly
(& Surviving Spouse)
|
$150,500
|
$145,950
|
$4,550
|
Married Filing Separately
|
$ 75,250
|
$ 72,975
|
$2,275
|
Single
|
$150,500
|
$145,950
|
$4,550
|
Head of Household
|
$150,500
|
$145,950
|
$4,550
|
Personal Exemption Amounts
2006
|
2005
|
Increase
|
$3300
|
$3,200
|
$100
|
Threshold for Personal Exemption Phaseout
Filing Status
|
2006
|
2005
|
Increase
|
Married Filing Jointly
(& Surviving Spouse)
|
$225,750
|
$218,950
|
$6,800
|
Married Filing Separately
|
$112,875
|
$109,475
|
$3,400
|
Single
|
$150,500
|
$145,950
|
$4,550
|
Head of Household
|
$188,150
|
$182,450
|
$5,700
|
Gift Tax Exemption
2006
|
2005
|
Increase
|
$12,000
|
$11,000
|
$1,000
|
SOURCE: CCH, 2006
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nb-06-24
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