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Archive for September 20th, 2007

2008 Federal Tax Rates

Posted by taxguru on September 20, 2007

Right on schedule, CCH has released their inflation adjusted calculations for the Federal individual income tax brackets and other items that are adjusted annually.  When I have a chance, I will be setting up a new page on my website for these 2008 figures.

Besides the new tax bracket break points, there a few other interesting items that will be of interest to readers.

The Section 179 limit goes up to $128,000 for tax years starting in 2008.

The annual gift tax exemption will remain at $12,000 for 2008.

 [Update] A new page has been added to my website for the 2008 Federal rates.  I’ve also updated the Section 179 info for 2008 on its special page, as well as the Quick Reference page.



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