2001 & 2003 Tax Law Phase In's

	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011
INCOME TAX RATES:
15%	*	10%-15%	10%-15%	10%-15%	10%-15%	10%-15%	10%-15%	10%-15%	10%-15%	10%-15%	15%
28%	27.5%	27%	25%	25%	25%	25%	25%	25%	25%	25%	28%
31%	30.5%	30%	28%	28%	28%	28%	28%	28%	28%	28%	31%
36%	35.5%	35%	33%	33%	33%	33%	33%	33%	33%	33%	36%
39.6%	39.1%	38.6%	35%	35%	35%	35%	35%	35%	35%	35%	39.6%
*Refund checks instead of 10% bracket in 2001
Elimination of limit on itemized deductions	0	0	0	0	0	33%	33%	67%	67%	100%	0
Elimination of personal exemption phase-out	0	0	0	0	0	33%	33%	67%	67%	100%	0
CAPITAL GAINS TAX RATES:
10%-8%		10%-8%	On or before May 5th: 10%-8% After May 5th: 5%	5%	5%	5%	5%	0%	10%-8%	10%-8%	10%-8%
20%-18%		20%-18%	On or before May 5th: 20%-18% After May 5th: 15%	15%	15%	15%	15%	15%	20%-18%	20%-18%	20%-18%
25%		25%	25%	25%	25%	25%	25%	25%	25%	25%	25%
28%		28%	28%	28%	28%	28%	28%	28%	28%	28%	28%
MARRIAGE PENALTY RELIEF:
Standard deduction percentage of single	0	0	200%	200%	174%	184%	187%	190%	200%	200%	0
15% bracket percentage of single	0	0	200%	200%	180%	187%	193%	200%	200%	200%	0
Child tax credit	600	600	1000	1000	700	700	700	700	800	1,000	0
ADOPTION:
Credit	5000/6000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	5000/6000
Income phase-out range starts at	75,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	75,000
DEPENDENT CARE:
Credit	30%	30%	35%	35%	35%	35%	35%	35%	35%	35%	30%
Maximum expenses	2400/4800	2400/4800	3000/6000	3000/6000	3000/6000	3000/6000	3000/6000	3000/6000	3000/6000	3000/6000	2400/4800
Phase-out beginning point	10,000	10,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	10,000
EMPLOYER PROVIDED CHILD CARE (max $150m/yr):
Credit for qualified expenses	0	25%	25%	25%	25%	25%	25%	25%	25%	25%	0
Credit for resource and referral services	0	10%	10%	10%	10%	10%	10%	10%	10%	10%	0
ESTATE TAXES (Sunset 2011 55% and $675m):
Top rate	55%	50%	49%	48%	47%	46%	45%	45%	45%	0%	55%
Exemption	675,000	1,000,000	1,000,000	1,500,000	1,500,000	2,000,000	2,000,000	2,000,000	3,500,000	0%	1,000,000
GST tax	55%	50%	49%	48%	47%	46%	45%	45%	45%	0%	55%
GST exemption	1,060,000	1,060,000	1,060,000	1,500,000	1,500,000	2,000,000	2,000,000	2,000,000	3,500,000	0	1,060,000
State death tax credit reduction		25%	50%	75%	100%	100%	100%	100%	100%	100%	0
State death tax deduction					100%	100%	100%	100%	100%	100%	0
GIFT TAX:
Exemption	675,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000
Top rate	55%	50%	49%	48%	47%	46%	45%	45%	45%	35%	55%
COLLEGE TUITION DEDUCTION:
Above the line deduction (agi below 65/130m)		3,000	3,000	4,000	4,000	0	0	0	0	0	0
Above the line deduction (agi 80/160m)				2,000	2,000	0	0	0	0	0	0
EDUCATION IRA's (expanded to all schools beg in 2002):
Limit	500	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	500
AGI ceiling (1/2 for single)	*	190-220	190-220	190-220	190-220	190-220	190-220	190-220	190-220	190-220	0
*phase-out 95-110 single; 150-160 joint
IRA's (incl Roth)(inflation adj after 2008)	2,000	3,000	3,000	3,000	4,000	4,000	4,000	5,000	5,000	5,000	2,000
IRA's (incl Roth) catch-ups age 50+		500	500	500	500	1,000	1,000	1,000	1,000	1,000	0
401K catch-ups age 50+		1,000	2,000	3,000	4,000	5,000	5,000	5,000	5,000	5,000	0
RETIREMENT PLANS:
Defined contribution plan limits	35,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	40,000	35,000
Defined benefit plan limits	140,000	160,000	160,000	160,000	160,000	160,000	160,000	160,000	160,000	160,000	140,000
401k contribution limits	10,500	11,000	12,000	13,000	14,000	15,000	15,000	15,000	15,000	15,000	10,500
Contribution credit (joint filers agi<30m)max		1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	0
Simple plan elective deferrals	6,000	7,000	8,000	9,000	10,000	10,000	10,000	10,000	10,000	10,000	6,000
Profit-sharing percent of compensation	15%	25%	25%	25%	25%	25%	25%	25%	25%	25%	15%