tax

Handy tax facts



Taxes are all about the numbers. These tables provide some basic information to help you file your return.

Tax facts
Deduction amounts
 Should you take the standard deduction or itemize? Discover which method will help reduce your tax bill more.
Exemption amounts
 Exemptions help reduce your taxable income. Find out how many you can claim on your tax return.
Retirement plan contribution limits
 Save for the future and cut your tax bill now. Here's how much you can stash in your retirement accounts.
Estate and gift tax exclusions
 Part of tax-smart estate planning is sharing the wealth. Here are the limits on gifts you can give others.
Mileage rate deduction amounts
 Drive down your tax bill by claiming mileage deductions for your automotive trips. Here are 2006 and 2007 limits.

-- Updated: Jan. 2, 2008

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