Fast tax facts 2010.

• Position: AS OF SEPT. 15. 2010

The online version of fast tax facts will be updated for tax law changes. Check it out at www.calcpa.org/fasttaxfacts.

special thanks to: Rebecca Christiansen, CPA and Brooke Sigler of Windes & McClaughry Accountancy Corporation, and the FTB for compiling this information.

Welcome to our annual at-a-glance compilation of federal and state tax information. User-friendly tax rate schedules, facts, figures and assorted data make this time-saving section a handy companion. Keep it within arm's reach as you enter the upcoming busy season.

2010 TAX DATA SCHEDULE 2010 2010 Federal California Standard Deductions Single $5,700 $3,670 Married Filing Jointly, Surviving Spouse 11,400 7,340 Married Filing Separately 5,700 3,670 Head of Household 8,400 7,340 Additional for Age 65 and Older or Blind 1,100 Married Additional for Age 6.5 and Older or' Blind 1,400 Unmarried (per individual for each situation, age or blind) Taxpayer Claimed as a Dependent 950 950 Personal or Dependent Exemption 3,650 (Social Security Number required) California Exemption Credits Single, Married Filing Separately, Head of $99 Household Married Filing Jointly. Surviving Spouse 198 Dependent 99 Blind or Age 65 and Older 99 Senior Head of Household Credit 2% of California taxable income, maximum $1,196 California AG I of S63,440 with maximum credit of Joint Custody Head of Household Credit and Dependent Parent Credit Each is 30% of net tax with maximum credit $390 of Child and Dependent Care Credit Percentage of federal credit for California AGI limits $0 40,000 50% 40,001 70,000 43% 70,001 100,000 34% 100,001 or more 0% California Renter's Credit Married Filing Jointly, Head of Household, $120 Surviving Spouse if AGI is below S68,824 Single or Married Filing Separately if ACT is 60 below $34,412 IRC Section 179 Deduction $500,000 $25,000 Sec. 179 Purchase Phaseout $2,000,000 $200,000 Sec. 179 Deduction Allowed on Qualified Real $250,000 N/A Property Beginning of Personal Exemption Phaseout Range--Based on Federal AGI Single none $162,186 Married filing Jointly, Surviving Spouse none 324,376 Married Filing Separately none 162,186 Head of Household none 243,283 Beginning of Itemized Deduction Phaseout Range--Based on Federal AGI Single none $162,186 Married Filing Jointly, Surviving Spouse none 324.376 Married Filing Separate!) none 162,186 Head of Household none 243,283 Rate Reduced over federal AGI limits N/A 6% Schedule A Medical Deduction Based on federal AGI 7.5% 7.5%...