2004 inflation adjustments.

2004 Inflation adjustments

2004 Income tax rates

Rate (%)          MFJ               Single                HOH

10         0-$14,300            0-$7,150            0-$10,200
15         $14,300-$58,100      $7,150-$29,050      $10,200-$38,900
25         $58,100-$117,250     $29,050-$70,350     $38,900-$100,500
28         $117,250-$178,650    $70,350-$146,150    $100,500-$162,700
33         $178,650-$319,100    $146,750-$319,100   $162,700-$319,100
35         Over $319,100        Over $319,100       Over $319,100

Rate (%)          MFS           Estates/Trusts

10         0-$7,150             N/A
15         $7,150-$29,050       0-$1,950
25         $29,050-$58,625      $1,950-$4,600
28         $58,625-$89,325      $4,600-$7,000
33         $89,325-$159,550     $7,000-$9,550
35         Over $159,550        Over $9,550

2004 Standard deduction

Filing status               Amount

Single                      $4,850
MFJ or qualifying spouse    $9,700
  with dependent child
MFS                         $4,850
HOH                         $7,150

2004 Personal exemption phaseouts

Filing status              Phaseout    No exemption
                           threshold   if AGI exceeds

Single                     $142,700       $265,200
MFJ or qualifying spouse   $214,050       $336,550
  with dependent child
MFS                        $107,025       $168,275
HOH                        $178,350       $300,850

Source: Rev. Proc. 2003-85

Lesli S. Laffie, J.D., LL.M.