EG Tax wants you to be up to date on all the new tax law changes. Below is everything you need to know about 2009 tax law changes.
|
Standard Deductions For 2009
|
|
|
|
|
|
|
|
|
|
|
|
Single
|
$5,700
|
|
|
|
|
Married Filing Joint
|
$11,400
|
|
|
|
|
Married Filing Separate
|
$5,700
|
|
|
|
|
Head Of Household
|
$8,350
|
|
|
|
|
Qualifying Widower With Dependent Child
|
$11,400
|
|
|
|
|
|
|
|
|
|
|
If over the age of 65 add the following to your Standard Deduction
|
|
|
|
|
|
|
|
|
|
|
|
Married Filing Joint (Per Person)
|
$1,100
|
|
|
|
|
Married Filing Separate
|
$1,100
|
|
|
|
|
Qualifying Widower
|
$1,100
|
|
|
|
|
Single
|
$1,400
|
|
|
|
|
Head Of Household
|
$1,400
|
|
|
|
|
|
|
|
|
|
|
Mileage Rates For 2009
|
|
|
|
|
|
|
|
|
|
|
|
Charitable
|
14 Cents
|
|
|
|
|
Medical
|
24 Cents
|
|
|
|
|
Business
|
55 Cents
|
|
|
|
|
Moving
|
24 Cents
|
|
|
|
|
|
|
|
|
|
|
New Earned Income Credit Rates For 2009
|
||||
|
|
|
|
|
|
|
|
No Children
|
1 Child
|
2 Children
|
3 Children
|
|
|
|
|
|
|
|
Max Amount Of Credit
|
$457
|
$3,043
|
$5,028
|
$5,657
|
|
Earned Income Amounts
|
$5,950
|
$8,950
|
$12,550
|
$12,550
|
|
MFJ Max Income Before Credit Loss
|
$18,450
|
$40,500
|
$45,300
|
$48,280
|
|
All Other File Status Max Income Limits
|
$13,450
|
$35,500
|
$40,300
|
$43,300
|
|
|
|
|
|
|
|
Note: Investment income For EIC is $3,100
|
|
|
|
|