Standard Deduction for tax year 2006?

Question

2006 Standard tax staandaard tax deduction

Answer 1

2006 single / 5,150 married, filing joint / 10,300
head of household 7,550 These figures are for standard filings; if you are 65 or older numbers are increased.

Answer 2

continuously shop your receipts for deductions & evidence of company activities, evaluation IRS time table C-EZ & C. The catergories provide you with some theory the place your expenses fall into. Kepp song of motor vehicle mileage & expenses, use a robust wriiten log & dates of service. i'm conservative, i could shop 20% (expenses allowing) for taxes. (10% minimum). in case you may get your corporation to withold for federal, state & interior reach taxes if mandatory, do it. I surely have acquaintances I provide this information to, & while they do no longer do it, they get the vast tax bill!! (extremely on bigger earning) merely furnish your self with protection & interior the long-term you shouldn't have problems. Get final years tax application (any of the vast names) & compute your person final 12 months taxes & then do some what if's. company earnings (time table C or C-Ez) Mileage, expenses etc. stable success.

Answer 3

I usually guesstimate around 20%