G.R. Starbuck & Co., PA
Leawood Executive Centre I
4601 College Boulevard
Suite 160
Leawood, KS 66211
Email: info@grstarbuck.com
Telephone:
913.451.8777
877.742.4108
Fax:
913.451.8992 |
 |
Summer, 2009
| |
2009 |
2008 |
| Standard Deduction: |
|
|
Single |
$5,700 |
$5,450 |
Joint & Surviving Spouse |
11,400 |
10,900 |
Married Filing Separately |
5,700 |
5,450 |
Head of Household |
8,350 |
8,000 |
Additional for Elderly or Blind: |
|
|
Married
|
1,100 |
1,050 |
Single
|
1,400 |
1,300 |
|
|
|
| Personal Exemption |
$3,650 |
$3,500 |
| |
|
|
| FICA & Self-Employment Tax: |
|
|
Taxable Wages for Social Security / Medicare
|
$106,800 / All |
$102,000 / All |
Tax Rate Social Security / Medicare |
6.20% / 1.45% |
6.20% / 1.45% |
Tax Rate Self-Employment |
12.40% / 2.90% |
12.40% / 2.90% |
| |
|
|
| Social Security Earnings Limit: |
|
|
Under Full Retirement Age |
$14,160 |
$13,560 |
Over Full Retirement Age |
No Limit |
No Limit |
| |
|
|
| IRA Contribution Limit |
$5,000 |
$5,000 |
50 and Over Catch-up
|
1,000 |
1,000 |
| |
|
|
| Simple Deferral Limit |
$11,500 |
$10,500 |
50 and Over Catch-up |
2,500 |
2.500 |
| |
|
|
| 401(k) Deferral Limit |
$16,500 |
$15,500 |
50 and Over Catch-up
|
5,500 |
5,000 |
| |
|
|
| HSA Contribution Limit: |
|
|
Self Only
|
$3,000 |
$2,850 |
Family |
5,950 |
5,650 |
Additional for 55 & Older |
1,000 |
900 |
| |
|
|
| Nanny Tax Threshold |
$1,700 |
$1,600 |
| |
|
|
| Education Loan Interest Deduction |
$2,500 |
$2,500 |
| |
|
|
| Education Savings Acct Contribution |
$2,000 |
$2,000 |
| |
|
|
| Maximum Hope Creditt |
$1,800 |
$1,800 |
| |
|
|
| Estate Tax Exemption |
$3,500,000 |
$2,000,000 |
| |
|
|
| Annual Gift Tax Exclusion |
$13,000 |
$12,000 |
| |
|
|
| Long Term Capital Gains |
15% / 0% |
15% / 0% |
|
