2006 At a Glance 2006 Personal Exemption $3,300 2006 Standard Deduction Under Age 65 Married,Filing Jointly $10,300 Head of Household $7,550 Unmarried Individual $5,150 Married Filing Separately $5,150 One indivdual 65 or over and/or blind Married,Filing Jointly $11,300 Head of Household $8,800 Unmarried Individual $6,400 Married Filing Separately $6,150 If both taxpayers over 65 add another $1,000. Blind taxpayers get an extra $1,000 if married, $1,250 if single. Standard deduction for an individual claimed as a dependent by another cannot exceed the greater of $800 or the dependent's earned income +$250, up to the normal standard deduction. If one spouse filing separately itemizes, the other gets no standard deduction. 2006 Standard mileage rates- mileage rates 2006 2007 business 44.5 cents 48.5 cents charitable 14 cents 14 cents moving & medical 18 cents 20 cents (higher rates related to Katrina) 2005 Social Security earnings limit under age 65 $12,000 age 65 or older no limit only first $12,500 of sick pay is taxed 2006 Wage base Social Security tax $94,200 Medicare no limit                                                                                                                                                       This website should not be used as a substitute for professional advice.  If legal advice or other expert assistance is required, the services of a competent tax advisor should be sought.