Costin + Company Certified Public Accountants: Tax Services

Tax Information
2007

» 2007 Tax Year
Changes

» 2007 Individual
Tax Rates

» 2007 Deductions
and Exemptions

» 2007 FICA
Tax Rates

» 2007 Corporate
Tax Rates

» 2007 Estate and
Gift Taxes

» 2007 Tax Credits

» 2007 Phase-out
Levels

» Key Tax Terms

^{Estate
and Gift Tax Rates}

The 2007 annual gift exclusion remains at $12,000 and the estate tax exemption remains the same at $2,000,000, the top estate tax rate is 45% (from 46% in 2006).

Taxable amount over	Taxable amount not over	Tax on amount in Column A	Rate of tax on excess over amt. in Column A - Percent
0	10,000	0	18
10,001	20,000	1,800	20
20,001	40,000	3,800	22
40,001	60,000	8,200	24
60,001	80,000	13,000	26
80,001	100,000	18,200	28
100,001	150,000	23,800	30
150,001	250,000	38,800	32
250,001	500,000	70,800	34
500,001	750,000	155,800	37
750,001	1,000,000	248,300	39
1,000,001	1,250,000	345,800	41
1,250,001	1,500,000	448,300	43
1,500,001	2,000,000	555,800	45
2,000,001	..........	780,800	45

Estate and Gift Tax Lifetime Exemption

2008-$2.000,000 2009-$3,500,000 2010-$1,000,000