QUICK FACTS
 

2005

2006
 STANDARD MILEAGE RATE  

Business 40.5¢ to 8/31/05       48.5¢  to 12/31/05
Charitable    14¢Medical/moving expense 15¢/22¢

Business     44.5¢
Charitable    14¢  Medical/moving expense 18¢
post may 5,'03
Capital Gains Rates
 (noncorporate taxpayers)

     Adjusted Net Long-Term Capital Gains 
               (assets held more than 12 months)          15%
     Those in the 15 % bracket                                   5%
     Non Recaptured 1250 Gain on Real Estate          25%
     Most Collectibles                                                28%
     

SOCIAL SECURITY WAGE BASE

Social security is withheld at 6.2% from first $90,000 of wages.  Medicare is withheld at 1.45% without limit.

Social security is withheld at 6.2% from first $94,200 of wages.  Medicare is withheld at 1.45% without limit.
SOCIAL SECURITY EARNINGS LIMIT Under age 65 + 6 mos       $12,000
Age 65 + 6 mos and over    no limit
(special phaseout in year become age 65+6 mos)		 Under age 65 + 4 mos       $
Age 65 + 4 mos and over    no limit
(special phaseout in year become age 65+4 mos)
401(k) deductible contribution

$14,000

$15,000
Self-employed health insurance deduction

100%

100%
Sec. 179 deduction

$105,000

$108,000
Federal  estate tax exemption

$1,500,000

$2,000,000