2008 Tax Rates Note: IRS Tax Tables must be used for taxable income less than $100,000. Taxable Income times Rate minus $ Amount equals Tax       Single       $0 to $8,025 x 10% minus $0.00 = Tax      $8,026 to $32,550 x 15% minus $401.25 = Tax     $32,551 to $78,850 x 25% minus $3,656.25 = Tax     $78,851 to $164,550 x 28% minus $6,021.75 = Tax     $164,551 to $357,700 x 33% minus $14,249.25 = Tax     $357,701 and over x 35% minus $21,403.25 = Tax     Married Filing Jointly or Qualifying Widow(er)   $0 to $16,050 x 10% minus $0.00 = Tax     $16,051 to $65,100 x 15% minus $802.50 = Tax     $65,101 to $131,450 x 25% minus $7,312.50 = Tax     $131,451 to $200,300 x 28% minus $11,256.00 = Tax     $200,301 to $357,700 x 33% minus $21,271.00 = Tax     $357,701 and over x 35% minus $28,425.00 = Tax     Head of Household    $0 to $11,450 x 10% minus $0.00 = Tax     $11,451 to $43,650 x 15% minus $572.50 = Tax     $43,651 to $112,650 x 25% minus $4,937.50 = Tax     $112,651 to $182,400 x 28% minus $8,217.00 = Tax     $182,401 to $357,700 x 33% minus $17,437.00 = Tax     $357,701 and over x 35% minus $24,591.00 = Tax       Married Filing Separately       $0 to $8,025 x 10% minus $0.00 = Tax       $8,026 to $32,550 x 15% minus $401.25 = Tax       $32,551 to $65,725 x 25% minus $3,656.25 = Tax       $65,726 to $100,150 x 28% minus $5,628.00 = Tax       $100,151 to $178,850 x 33% minus $10,635.50 = Tax       $178,851 and over x 35% minus $14,212.50 = Tax   2009 Tax Rates Note: IRS Tax Tables must be used for taxable income less than $100,000. Taxable Income times Rate minus $ Amount equals Tax Unmarried Individuals (not Head of Household)               $0 to $8,350 x 10% minus $0.00 = Tax      $8,351 to $33,950 x 15% minus $417.50= Tax      $33,951 to $82,250 x 25% minus $3,812.50= Tax     $82,251 to $171,550 x 28% minus $6,280.00= Tax     $171,551 to $372,950 x 33% minus $14,857.50= Tax     $372,951 and over x 35% minus $22,316.50= Tax                Married Filing Jointly or Qualifying Widow(er)     $0 to $16,700 x 10% minus $0.00 = Tax     $16,701 to $67,900 x 15% minus $835.00= Tax     $67,901 to $137,050 x 25% minus $7625.00= Tax     $137,051 to $208,850 x 28% minus $11,736.50= Tax     $208,851 to $372,950 x 33% minus $22,179.00= Tax     $372,951 and over x 35% minus $29,638.00= Tax     Head of Household     $0 to $11,950 x 10% minus $0.00 = Tax      $11,951 to $45,500 x 15% minus $597.50= Tax      $45,501 to $117,450 x 25% minus $5,147.50= Tax     $117,451 to $190,200 x 28% minus $8,671.00= Tax     $190,201 to $372,950 x 33% minus $18,181.00= Tax     $372,951 and over x 35% minus $25,640.00= Tax     Married Filing Separately          $0 to $8,350 x 10% minus $0.00 = Tax     $8,351 to $33,950 x 15% minus $417.50= Tax     $33,951 to $68,525 x 25% minus $3,812.50= Tax     $68,526 to $104,425 x 28% minus $5,868.50= Tax     $104,426 to $186,475 x 33% minus $11,089.50= Tax     $186,476 and over x 35% minus $14,819.00 = Tax   Individual Deductions 2008 Standard Deductions Filing Status Standard Deduction Age 65 and Over or Blind (Each)  Married Filing Jointly $10,900 $ 1,050   Single $5,450 $ 1,350   Head of Household $8,000 $ 1,350   Married Filing Separately $5,450 $ 1,050    Legally Blind Additional $ 1,050   Dependent Children-The standard deduction may not exceed the greater of $900 or the amount of the child's earned income plus $300 (not to exceed $5,450).   2009 Standard Deductions Filing Status Standard Deduction Age 65 and Over or Blind (Each) Married Filing Jointly $11,400 $ 1,100   Single $5,700 $ 1,350   Head of Household $8,350 $ 1,400   Married Filing Separately $5,700 $ 1,100   Dependent Children-The standard deduction may not exceed the greater of $950 or the amount of the child's earned income plus $300 (not to exceed $5,700). Personal Exemption   2008 2009     $3,500 $3,650       Mileage Rates    Purpose 2008 2009     Business 50.5¢ per mile until 6/30, 58.5¢ after 6/30 55.0¢ per mile     Medical   19¢ per mile until 6/30, 27¢ per mile  after 6/30 24¢ per mile      Charitable   14¢ per mile 14¢ per mile      Moving  19¢ per mile until 6/30, 27¢ per mile  after 6/30 24¢ per mile       Social Security Information Maximum Earnings 2008 2009 Subject to: Social Security Tax $102,000  $106,800 Medicare Tax No Limit No Limit Rate Of Tax 2008 2009 Employee:     Social Security Tax 6.20% 6.20% Medicare Tax 1.45% 1.45% Self Employed: Social Security Tax 12.40% 12.40% Medicare Tax 2.90% 2.90% Maximum Tax Paid By 2008 2009 Employee:     Social Security $6324.00 $6,621.60 Medicare No Limit No Limit Self Employed: Social Security $12,648.00  $13,243.20 Medicare No Limit No Limit Maximum Amount of Earnings to Still Receive Full Benefits 2008 2009 Full Retirement Age (FRA) No Limit No Limit Year FRA reached $36,120 $37,680 Under FRA $13,560  $14,160   McClure, Inserra & Company, Chartered 1650 N. Arlington Heights Road, Arlington Heights, IL  60004  847-870-0380