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Charts

Information current as of November 25, 2009

Before Proceeding, Please Note: The following is presented as a General Guideline only. Accounting and Tax Center, Inc. is not responsible for typographical errors (which do occur). You should consult your tax advisor before using any of the following information. Tax laws are subject to change at any time. Consult your tax advisor or call us for the latest information. Accounting and Tax Center, Inc., is providing this information to you for use as general guidance. Accounting and Tax Center, Inc., is not engaging in rendering any specific legal, tax, or accounting advice. Only a qualified tax professional with all the facts at his or her disposal can determine the appropriateness of the application of any law to a given set of facts and circumstances.

Donation Guides on the Internet

Goodwill:

• Goodwill Richmond

Salvation Army:

• Donation Value Guide
• Donation and Tax Resources

IRS Statistics of Income
        Source: Internal Revenue Service - Statistics of Income (SOI) program
        Summary of Federal Individual Income Tax Data, Tax Year 2006 (most current year available)

http://www.irs.gov/taxstats/index.html
Individual Tax Statistics
Individual Income Tax

http://www.irs.gov/taxstats/indtaxstats/article/0,,id=98123,00.html
Statistical Tables
by Tax Rate and Income Percentile

http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html
Individual Income Tax Returns with Positive Adjusted Gross Income (AGI)
www.irs.gov/pub/irs-soi/06in01etr.xls - Table 1
www.irs.gov/pub/irs-soi/06in05tr.xls - Table 5
www.irs.gov/pub/irs-soi/06in06tr.xls - Table 6

	Year	Number of Returns	AGI ($ millions)	Income Taxes Pd ($ millions)	Group Share of Total AGI	Group Share of Inc Taxes	Current $ Income Split Point
All Taxpayers	1986 2002 2005 2006	102,087,623 128,323,986 132,611,637 135,719,160	$2,524,124 $6,133,778 $7,507,958 $8,122,040	$   366,979 $   796,862 $   934,703 $1,023,739	100.00% 100.00% 100.00% 100.00%	100.00% 100.00% 100.00% 100.00%	-- -- -- --
Top 1%	1986 2002 2005 2006	1,020,876 1,283,240 1,326,116 1,357,192	$   285,197 $   985,781 $1,591,711 $1,791,886	$  94,491 $268,608 $368,132 $408,369	11.30% 16.12% 21.20% 22.06%	25.75% 33.71% 39.38% 39.89%	above $118,818 $285,424 $364,657 $388,806
Top 5%	1986 2002 2005 2006	5,104,381 6,416,199 6,630,582 6,785,958	$   608,467 $1,867,787 $2,683,934 $2,977,714	$156,240 $428,680 $557,759 $615,680	24.11% 30.55% 35.75% 36.66%	42.57% 53.80% 59.67% 60.14%	above $  62,397 $126,525 $145,283 $153,542
Top 10%	1986 2002 2005 2006	10,208,762 12,832,399 13,261,164 13,571,916	$   886,510 $2,553,475 $3,487,010 $3,843,144	$200,703 $523,812 $657,085 $724,740	35.12% 41.77% 46.44% 47.32%	54.69% 65.73% 70.30% 70.79%	above $  48,656 $  92,663 $103,912 $108,904
Top 25%	1986 2002 2005 2006	25,521,906 32,080,997 33,152,909 33,929,790	$1,490,173 $3,935,504 $5,069,455 $5,535,830	$278,976 $668,558 $803,772 $883,153	59.04% 64.37% 67.52% 68.16%	76.02% 83.90% 85.99% 86.27%	above $32,242 $56,401 $62,068 $64,702
Top 50%	1986 2002 2005 2006	51,043,811 64,161,993 66,305,819 67,859,580	$2,103,569 $5,244,029 $6,544,824 $7,105,599	$343,289 $768,963 $906,028 $993,176	83.34% 85.77% 87.17% 87.49%	93.54% 96.50% 96.93% 97.01%	above $17,302 $28,654 $30,881 $31,987
Bottom 50%	1986 2002 2005 2006	51,043,811 64,161,993 66,305,818 67,859,580	$   420,555 $   869,750 $   963,135 $1,016,441	$23,690 $27,899 $28,673 $30,561	16.66% 14.23% 12.83% 12.51%	6.46% 3.50% 3.07% 2.99%	below $17,302 $28,654 $30,881 $31,987
Bottom 75%	1986 2002 2005 2006	76,565,717   96,242,990   99,458,728 101,789,370	$1,033,951 $2,178,274 $2,438,504 $2,586,209	$  88,002 $128,304 $130,930 $140,586	40.96% 35.63% 32.48% 31.84%	23.98% 16.10% 14.01% 13.73%	below $32,242 $56,401 $62,068 $64,702

Note: The above does not include the millions of taxpayers not making enough to be required to file a return.

THE "BUSH TAX CUTS"

Please note the top 10% of individual income tax payers are paying 71% of all individual income taxes in 2006, up from 66% before the "Bush Tax Cuts" of 2003. The bottom 75% are paying 14% of all individual income taxes in 2006, down from 16% before the "Bush Tax Cuts" of 2003.

Contribution Limits for Traditional and Roth IRAs

Estate Tax Exclusion and Credit

Gifts - Annual Exclusion

Standard Mileage Rates

Social Security and Medicare Rates

Standard Deduction and Personal Exemption

Kiddie Tax - Investment Income taxed at -

Three Year Statute of Limitations (Generally):

Local Tax Rates