Frank DiPaola,
EA
Tax Accountant
Tax Form Processing LLC
FOR THE TAXPAYER
SM
www.TaxFormProcessing.com
2400 N Forsyth Road Suite 101
Orlando, FL 32807-6445
What's NEW for Tax Year 2003?
President Bush Signs "Job and Growth Tax Relief Reconciliation Act of 2003" into Law on May 28, 2003
Standard Deduction
Personal & Dependent Exemption Amount
2003 Tax Rate Schedule
Mileage Rates
Luxury Tax Eliminated on Sales of Passenger Vehicles
Child & Dependent Care Expansion
Health Insurance Deduction for Self-Employed Persons Increased
Social Security Tax Wage Limits
& Rates & Medicare Rates
Lifetime Learning Credit has DOUBLED
Section 179 Expense has Increased (Election to Expense Certain Business Property)
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Last Revised August 2, 2004