The following table summarizes tax brackets, exemptions, phase outs and other tax facts. Please contact us if you have any questions or for tax planning assistance.                           2010       2009    Standard Deductions        Joint or qualifying widow(er) (MFJ) $   11,400 $   11,400    Single 5,700 5,700    Head of household (HOH) 8,400 8,350    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 950 950       Personal/dependent exemption 3,650 3,650       Child tax credit 1,000 1,000       Unearned income without kiddie tax 1,900 1,900       Beginning of 15% Bracket        Married filing jointly 16,750 16,700    Single 8,375 8,350    Head of household 11,950 11,950    Married filing separate 8,375 8,350    Estates and nongrantor trusts - -       Beginning of 25% Bracket        Married filing jointly 68,000 67,900    Single 34,000 33,950    Head of household 45,550 45,500    Married filing separate 34,000 33,950    Estates and nongrantor trusts 2,300 2,300       Beginning of 28% Bracket        Married filing jointly 137,300 137,050    Single 82,400 82,250    Head of household 117,650 117,450    Married filing separate 68,650 68,525    Estates and nongrantor trusts 5,350 5,350       Beginning of 33% Bracket        Married filing jointly 209,250 208,850    Single 171,850 171,550    Head of household 190,550 190,200    Married filing separate 104,625 104,425    Estates and nongrantor trusts 8,200 8,200       Beginning of 35% Bracket        MFJ, Single, HOH 373,650 372,950    Married filing separate 186,825 186,475    Estates and nongrantor trusts 11,200 11,150       Beginning of personal exemption    Phase-out range – based on AGI        Married filing jointly n/a 250,200    Single n/a 166,800    Head of household n/a 208,500    Married filing separate n/a 125,100       Beginning of itemized deduction    Phase-out range – based on AGI        MFJ, Single, HOH n/a 166,800    Married filing separate n/a 83,400       Gift and estate tax        Applicable credit amount (estate tax) n/a 3,500,000    Gift tax exemption 1,000,000 1,000,000    Gift tax annual exclusion 13,000 13,000       FICA/SE tax max earnings 106,800 106,800       Auto standard mileage allowances        Business .50 .55    Charity work .14 .14    Medical/moving .165 .24       Luxury (nonelectric) auto depreciation limits     Autos        First year: regular 3,060 2,960    Second year 4,900 4,800    Third year 2,950 2,850    Fourth year and thereafter 1,775 1,775       Light trucks and vans        First year: regular 3,260 3,060    Second year 5,200 4,900    Third year 3,050 2,950    Fourth year and thereafter 1,875 1,775       Qualified transportation fringe        Vehicle/transit pass limit 230 120/230    Qualified parking limit 230 230       Max 401(k) and 403(b) Deferral        Under 50 years old 16,500 16,500    50 years old and over 22,000 22,000       Max SIMPLE Deferral        Under 50 years old 11,500 11,500    50 years old and over 14,000 14,000       Section 179 Deduction 134,000 250,000    Maximum equipment purchase 530,000 800,000