Tax Rates   2005 Individual Tax Rates & Limits  2005 Tax Rate - Single Taxpayers - Standard Deduction $5,000 10% 0 - 7,300 15% 7,301 - 29,700 25% 29,701 - 71,950 28% 71,951 - 150,150 33% 150,151 - 326,450 35% Over 326,450 2005 Tax Rate - Married Jointly & Surviving Spouses-Standard Deduction $10,000 10% 0 - 14,600 15% 14,601 - 59,400 25% 59,401 - 119,950 28% 119,951 - 182,800 33% 182,801 - 326,450 35% Over 326,450 2005 Tax Rate - Married Filing Separately - Standard Deduction $5,000 10% 0 - 7,300 15% 7,301 - 29,700 25% 29,701 - 59,975 28% 59,976 - 91,400 33% 91,401 - 163,225 35% Over 163,225 2005 Tax Rate - Head of Household - Standard Deduction $7,300 10% 1 - 10,450 15% 10,451 - 39,800 25% 39,801 - 102,800 28% 102,801 - 166,450 33% 166,451 - 326,450 35% Over 326,450 2005 Tax Rate - Estates & Trusts 15% 1 - 2,000 25% 2,001 - 4,700 28% 4,701 - 7,150 33% 7,151 - 9,750 35% Over 9,750   Miscellaneous 2005 Tax Rates Business equipment expensing deduction $105,000 Maximum deduction for interest on higher education loans $2,500 Prior-year safe harbor for estimated taxes of higher-income 110% of your 2004 tax liability Standard mileage rate for business driving January 1 - August 31            40.5 cents September 1 - December 31  48.5 cents Unearned income maximum for children before kiddie tax applies $800 Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket 5% Maximum capital gains tax rate for taxpayers above the 15% bracket 15% Capital gains tax rate for unrecaptured Sec. 1250 gains 25% Capital gains tax rate on collectibles 28% Maximum employee contribution to SIMPLE retirement plans $10,000 if under age 50 $12,000 if 50 or older 401(k) maximum employee contribution limit $14,000 if under age 50 $18,000 if 50 or older Self-employed health insurance deduction 100% Estate tax exemption $1,500,000 Annual Exclusion for Gifts $11,000