QUICK ACCESS TAX DATA SHEET 2009 2010 Standard Deductions Joint or Qualifying Widower (MFJ) $11,400 $11,400 Single                     5,700                     5,700 Head of Household (HOH)                     8,350                     8,400 Married Filing Separately (MFS)                     5,700                     5,700 Additional for Elderly/Blind—Married                     1,100                     1,100 Additional for Elderly/Blind—Unmarried                     1,400                     1,400 Taxpayer Claimed as Dependent (A)                       950                       950 (A) If an individual who can be claimed as a dependent on another's return has earned income, the      standard deduction for 2009 is the greater of $950 or $300 plus the earned income (but no more      than the standard deduction) Personal/Dependent Exemption $3,650 $3,650 Child Tax Credit $1,000 $1,000 Child Credit Phase-out Begins Married Filing Joint 110,000 Single/HOH 75,000 (Credit is reduced $50 for each $1,000 of AGI above Phase-out) Unearned Income without Kiddie Tax (<18 Yrs or Student) $1,900 $1,900 Beginning/Ending of Personal Exemption Phase-out Range—Based on AGI MFJ  $250,200 / 372,700   Not Applicable  Single  166,800 / 289,300   Not Applicable  HOH  208,500 / 331,000   Not Applicable  MFS  125,100 / 186,350   Not Applicable  Beginning of Itemized Deduction Phase-out Range—Based on AGI MFJ, Single, HOH $166,800  Not Applicable  MFS                   83,400  Not Applicable  AMT Exemption Amount MFJ $70,950 Single/HOH                   46,700 MFS                   35,475 Beginning/ Ending of AMT Exemption  Phase-out Range—Based on AGI MFJ  $150,000 / 433,800  Single/HOH  112,500 / 299,300  MFS  75,000 / 216,900  Student Loan Interest Deduction $2,500 Estimated Tax Payments when AGI >150,000 110% 110% Adoption Credit Phase out Begins  $182,180 / 222,180   $182,520 / 222,520  Credit Amount $12,150 $12,170 Gift and Estate Tax Applicable Exclusion Amount (Estate Tax) $3,500,000 $3,500,000 Gift Tax Exemption              1,000,000              1,000,000 Gift Tax Annual Exclusion                   13,000                   13,000 Section 179 Deduction $250,000 $134,000 Maximum Equipment Purchase $800,000 $530,000 Auto Standard Mileage Allowances Business - 1/1 - 6/30                     0.550                     0.500 Charity Work                     0.140                     0.140 Medical/Moving - 1/1 - 6/30                     0.240                     0.165 Luxury (Non-electric) Depreciation Limits Autos First Year: Regular ($10,960 with '09 Bonus Depr) $2,960 Second Year                     4,800 Third Year                     2,850 Fourth Year and Thereafter                     1,775 Light Trucks and Vans First Year: Regular ($11,060 with '09 Bonus Depr) $3,060 Second Year                     4,900 Third Year                     2,950 Fourth Year and Thereafter                     1,775 Max 401(k) and 403(b) Deferral  $16,500 / 22,000  (B)  $16,500 / 22,000  Max SIMPLE Deferral  $11,500 / 14,000  (B)  $11,500 / 14,000  Max Salary $245,000 $245,000 Max SEP Contribution $49,000 $49,000 Max IRA Contribution $5,000 / 6,000  (B) $5,000 / 6,000  (B) The higher of the two limits applies only to those age 50 or older. Roth IRA Conversion AGI Limits $100,000  Not Applicable    (Beginning in 2010 there will be no AGI Limit) Roth IRA AGI Phase Out MFJ  $166,000 / 176,000   $167,000 / 177,000  Single/HOH  $105,000 / 120,000   $105,000 / 120,000  MFS  $0 / 10,000   $0 / 10,000  Traditional IRA AGI Phase Out When Active Participant MFJ  $89,000 / 109,000   $89,000 / 109,000  Single/HOH  $55,000 / 65,000   $56,000 / 66,000  MFS  $0 / 10,000   $0 / 10,000  Traditional IRA AGI Phase Out When Spouse is Active Participant MFJ  $166,000 / 176,000   $167,000 / 177,000  MFS  $0 / 10,000   $0 / 10,000  Retirement Savers Credit Amount $2,000 $2,000 Retirement Savers Credit AGI Phase-out Ending Up to AGI of: Up to AGI of: 50% - MFJ $33,000 $33,500 20% - MFJ $36,000 $36,000 10% - MFJ $55,500 $55,500 50% - Single $16,500 $16,750 20% - Single $18,000 $18,000 10% - Single $27,750 $27,750 50% - HOH $24,750 $25,125 20% - HOH $27,000 $27,000 10% - HOH $41,625 $41,625 Earnings Ceiling for Social Security Below Full Retirement Age $14,160 $14,160 Full Retirement Age  Unlimited Unlimited  (Full retirement age for 2009 and later is 66 years old) Social Security Benefits become Taxable when Modified AGI (includes 1/2 Soc Sec Ben) exceeds:     0% Taxable Benefits - MFJ  $0 - 32,000   $0 - 32,000      0% Taxable Benefits - Single  0 - 25,000   0 - 25,000      Up to 50% Taxable - MFJ 32,000 - 44,000  32,000 - 44,000      Up to 50% Taxable - Single  25,000 - 34,000   25,000 - 34,000      Up to 85% Taxable - MFJ  >44000   >44000      Up to 85% Taxable - Single  >34000   >34000  (Federal Only -  Beginning January 1, 2008 Wisconsin will no longer tax social security benefits) FICA/SE Tax Max Earnings $106,800 $106,800 HSA Contribution Limits (FEDERAL ONLY).  Wisconsin does NOT allow a deduction. Contribution Limits - Married Filing Joint 5,950 6,150 Contribution Limits - Single  3,000 3,050 Age 55 catch-up Contribution 1,000 Minimum Deductible - Family Coverage 2,300 2,400 Minimum Deductible - Self-only Coverage 1,150 1,200 Out of Pocket Expenses - Family Coverage 11,600 11,900 Out of Pocket Expenses - Self-only Coverage 5,800 5,950 Capital Gain Tax Rates Short-Term Ordinary Income  Ordinary Income  Long-Term 25% and Above Tax Brackets 15% 15% Long-Term 10% and15% Tax Brackets 0% 0% Qualified Dividends 25% and Above Tax Brackets 15% 15% 10% and 15% Tax Brackets 0% 0%  (After 2007 Qualified Dividends and Long-Term Capital Gains for the 10% and 15% tax brackets will be    taxed at a zero percent rate) Education Credits   Hope (Per Student) $1,800  Not Applicable    Lifetime Learning (Per Family)                     2,000                     2,000   American Opportunity  Not Applicable                      2,500 Phase-out Hope & Lifetime Learning Credit   Married Filing Joint $100,000 / 120,000 $100,000 / 120,000   Single/HOH $50,000 / 60,000 $50,000 / 60,000 Phase-out American Opportunity   Married Filing Joint  Not Applicable  $160,000 / 180,000   Single/HOH  Not Applicable  $80,000 / 90,000 Tuition and Fees Deduction 4,000 0 Educator Expenses Deduction 250 0 Dependent Care Credit 35% Credit maximum 20% Credit minimum (Maximum credit is $3,000 per dependent, up to $6,000 for 2 or more dependents.  Every $2,000 of AGI  above $15,000 results in a 1% decrease in credit.) Eligible Long-term Care Premiums Age 40 or under $320 $330 Age 41 to 50                       600                       620 Age 51 to 60                     1,190                     1,220 Age 61 to 70                     3,180                     3,290 Over Age 70                     3,980                     4,110 2010 FEDERAL TAX BRACKETS Unmarried Individuals                         Taxable Income       Of The  Over  But Not Over   Tax + % on Excess  Amount Over 0 8,375 0  +  10% 0 8,375 34,000                       838  +  15% 8,375 34,000 82,400                     4,681  +  25% 34,000 82,400 171,850                   16,781  +  28% 82,400 171,850 373,650                   41,827  +  33% 171,850 373,650 ……..                 108,421  +  35% 373,650 Joint Returns                         Taxable Income       Of The  Over But Not Over  Tax + % on Excess  Amount Over 0 16,750 0  +  10% 0 16,750 68,000                     1,675  +  15% 16,750 68,000 137,300                     9,363  +  25% 68,000 137,300 209,250                   26,688  +  28% 137,300 209,250 373,650                   46,834  +  33% 209,250 373,650 ……..                 101,086  +  35% 373,650 Head of Households                         Taxable Income       Of The  Over But Not Over  Tax + % on Excess  Amount Over 0 11,950 0  +  10% 0 11,950 45,550                     1,195  +  15% 11,950 45,550 117,650                     6,235  +  25% 45,550 117,650 190,550                   24,260  +  28% 117,650 190,550 373,650                   44,672  +  33% 190,550 373,650 ……..                 105,095  +  35% 373,650