Tax Data for Single Filers
2005 2004
10% income tax bracket (based on taxable income) $0 - $7,300 $0 - $7,150
15% income tax bracket (based on taxable income) $7,301 - $29,700 $7,151 - $29,050
Beginning of 25% bracket $29,701 $29,051
Beginning of 28% bracket $71,951 $70,351
Beginning of 33% bracket $150,151 $146,751
Beginning of 35% bracket $326,451 $319,101
Standard Deduction $5,000 $4,850
Beginning/ending of personal exemption phaseout range (based on AGI) $145,950 / $268,450 $142,700 / $265,200
Beginning of phaseout range for $1,000 dependant child credit eligibility (based on AGI) $75,000 $75,000
Phaseout range for education tax credit eligibility (based on AGI) $43,000 - $53,000 $42,000 - $52,000
Phaseout range for college loan interest deduction eligibility (based on AGI) $50,000 - $65,000 $50,000 - $65,000
Maximum AGI to be eligible for Roth IRA conversion $100,000 $100,000
Phaseout range for Roth IRA contribution eligibility (based on AGI) $95,000 - $110,000 $95,000 - $110,000
Phaseout range for Coverdell Education Savings Account contribution eligibility (based on AGI) $95,000 - $110,000 $95,000 - 110,000
Phaseout range for deductible IRA contribution eligibility Complicated rules apply. See the IRA Primer
Personal exemption deduction $3,200 $3,100
Beginning of itemized deduction phaseout range (based on AGI). Use our calculator to figure your deduction write-off. $145,950 $142,700
Self-Employment income subject to Social Security Tax. Use our calculator to figure tax owed. $90,000 $87,900
Maximum deductible contribution to 401(k) $14,000 $13,000
Maximum deductible contribution to self-employed SEP $42,000 $41,000
Maximum deductible contribution to self-employed Keogh profit-sharing plan $42,000 $41,000
Under-age-14 child's investment income before Kiddie Tax applies $1,600 $1,600
Estate tax exemption $1,500,000 $1,500,000
Mileage rate for business auto 40.5 37.5