2017 Tax Rates

2016 Tax Rates

2015 Tax Rates

2017 Tax Rates - Single

Taxable Income

Tax Rate

$0—$9,32510%
$9,326—$37,950$932.50 plus 15% of the amount over $9,325
$37,951—$91,900$5,226.25 plus 25% of the amount over $37,950
$91,901—$191,650$18,713.75 plus 28% of the amount over $91,900
$191,651—$ 416,700$46,643.75 plus 33% of the amount over $191,650
$416,701—$418,400$120,910.25 plus 35% of the amount over $413,350
$415,051 or more$120,529.75 plus 39.6% of the amount over $418,400

2017 Tax Rates - Married Filing Jointly or Qualifying Widow(er)

Taxable Income

Tax Rate

$0—$18,65010%
$18,650 - $75,900$10,452.50 plus 25% of the excess over $75,900
$153,100 - $233,350$29,752.50 plus 28% of the excess over $153,100
$233,350 - $416,700$52,222.50 plus 33% of the excess over $233,350
$416,700 to $470,700$112,728 plus 35% of the excess over $416,700
$470,700+$131,628 plus 39.6% of the excess over $470,700f

2017 Tax Rates - Married Filing Separately

Taxable Income

Tax Rate

$0 - $9,32510%
$9,326 - $37,950$932.50 plus 15% of your income above $9,325
$37,951-$76,550$5,226.25 plus 25% of your income above $37,950
$76,551-$116,675$14,876.25 plus 28% of your income above $76,550
$116,676 - $208,350$26,111.25 plus 33% of your income above $116,675
$208,351-$235,350$56,364 plus 35% of your income above $208,350
$235,351+$65,814 plus 39.6% of your income above $235,350

2017 Tax Rates - Head of household

Taxable Income

Tax Rate

$0 - $13,35010%
$13,350 - $50,800$1,335 plus 15% of the excess over $13,350
$50,800 - $131,200$6,952.50 plus 25% of the excess over $50,800
$131,200 - $212,500$27,052.50 plus 28% of the excess over $131,200
$416,700 to $444,500$117,202.50 plus 35% of the excess over $416,701
$444,550+$126,950 plus 39.6% of the excess over $444,550

2017 Standard Deduction Amounts

Filing StatusStandard Deduction
Single$6,350
Married Filing Jointly$12,700
Married Filing Separately$6,350
Head of Household$9,350
Personal Exemption$4,050

2017 Pease Limitations

Filing StatusIncome
Single$261,500
Married Filing Jointly & Surviving Spouses$313,800
Married Filing Separately$156,900
Head of Household$287,650

2017 Alternative Minimum Tax "AMT" Exemptions

Filing StatusExemption Amount
Single$54,300
Married Filing Jointly$84,500
Married Filing Separately$42,250
Trusts & Estates$24,100

2017 Personal Exemption Phaseout "PEP" Thresholds

Filing StatusPEP Threshold StartsPEP Threshold Ends
Single$261,500$384,000
Married Filing Jointly$313,800$436,300
Married Filing Separately$156,900$218,150
Head of Household$287,650$410,150

2016 Tax Rates - Single

Taxable Income

Tax Rate

$0—$9,27510%
$9,276—$37,650$927.50 plus 15% of the amount over $9,275
$37,651—$91,150$5,183.75 plus 25% of the amount over $37,650
$91,151—$190,150$18,558.75 plus 28% of the amount over $91,150
$190,151—$ 413,350$46,278.75 plus 33% of the amount over $190,150
$413,351—$415,050$119,934.75 plus 35% of the amount over $413,350
$415,051 or more$120,529.75 plus 39.6% of the amount over $415,050

2016 Tax Rates - Married Filing Jointly or Qualifying Widow(er)

Taxable Income

Tax Rate

$0—$18,55010%
$18,551—$75,300$1,855 plus 15% of the amount over $18,550
$75,301—$151,900$10,367.50 plus 25% of the amount over $75,300
$151,901—$231,450$29,517.50 plus 28% of the amount over $151,900
$231,451—$413,350$51,791.50 plus 33% of the amount over $231,450
$413,351—$466,950$111,818.50 plus 35% of the amount over $413,350
$466,951 or more$130,578.50 plus 39.6% of the amount over $466,950

2016 Tax Rates - Married Filing Separately

Taxable IncomeTax Rate
$0—$9,27510%
$9,276—$37,650$927.50 plus 15% of the amount over $9,275
$37,651—$75,950$5,183.75 plus 25% of the amount over $37,650
$75,951—$115,725$14,758.75 plus 28% of the amount over $75,950
$115,726—$206,675$25,895.75 plus 33% of the amount over $115,725
$206,676—$233,475$55,909.25 plus 35% of the amount over $206,675
$233,476 or more$65,289.25 plus 39.6% of the amount over $233,475

2016 Tax Rates - Head of Household

Taxable Income

Tax Rate

$0—$13,25010%
$13,251—$50,400$1,325 plus 15% of the amount over $13,250
$50,401—$130,150 $6,897.50 plus 25% of the amount over $50,400
$130,151—$210,800 $26,835 plus 28% of the amount over $130,150
$210,801—$413,350 $49,417 plus 33% of the amount over $210,800
$413,351—$441,000$116,258.50 plus 35% of the amount over $413,350
$441,001 or more$125,936 plus 39.6% of the amount over $441,000

2016 Personal Exemption Amounts

Filing StatusPEP Threshold StartsPEP Threshold Ends
Single$259,400$381,900
Married Filing Jointly$311,300$433,800
Married Filing Separately$155,650$216,900
Head of Household$285,350$407,850

2016 Standard Deduction Amounts

Filing StatusStandard Deduction
Single$6,300
Married Filing Jointly$12,600
Married Filing Separately$6,300
Head of Household$9,300
Qualifying Widow(er)$12,600

2015 Tax Rates Schedule X - Single

If taxable income is over

But not over

The tax is


$0

$9,225

10% of the taxable amount

$9,225

$37,450

$922.50 plus 15% of the excess over $9,225

$37,450

$90,750

$5,156.25 plus 25% of the excess over $37,450

$90,750

$189,300

$18,481.25 plus 28% of the excess over $90,750

$189,300

$411,500

$46,075.25 plus 33% of the excess over $189,300

$411,500

$413,200

$119,401.25 plus 35% of the excess over $411,500

Over $413,200

no limit

$119,996.25 plus 39.6% of the excess over $413,200

2015 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is


$0

$18,450

10% of the taxable amount

$18,450

$74,900

$1,845 plus 15% of the excess over $18,450

$74,900

$151,200

$10,312.50 plus 25% of the excess over $74,900

$151,200

$230,450

$29,387.50 plus 28% of the excess over $151,200

$230,450

$411,500

$51,577.50 plus 33% of the excess over $230,450

$411,500

$464,850

$111,324 plus 35% of the excess over $411,500

$464,850

no limit

$129,996.50 plus 39.6% of the excess over $464,850

2015 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over

But not over

The tax is


$0

$9,225

10% of the taxable amount

$9,225

$37,450

$922.50 plus 15% of the excess over $9,225

$37,450

$75,600

$5,156.25 plus 25% of the excess over $37,450

$75,600

$115,225

$14,693.75 plus 28% of the excess over $75,600

$115,225

$205,750

$25,788.75 plus 33% of the excess over $115,225

$205,750

$232,425

$55,662 plus 35% of the excess over $205,750

Over $232,425

no limit

$64,998.25 plus 39.6% of the excess over $232,425

2015 Tax Rates Schedule Z - Head of Household

If taxable income is over

But not over

The tax is


$0

$13,150

10% of the taxable amount

$13,150

$50,200

$1,315 plus 15% of the excess over $13,150

$50,200

$129,600

$6,872.50 plus 25% of the excess over $50,200

$129,600

$209,850

$26,722.50 plus 28% of the excess over $129,600

$209,850

$411,500

$49,192.50 plus 33% of the excess over $209,850

$411,500

$439,000

$115,737 plus 35% of the excess over $411,500

$439,000

no limit

$125,362 plus 39.6% of the excess over $439,000

2015 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is


$0

$2,500

15% of the taxable income

$2,500

$5,900

$375 plus 25% of the excess over $2,500

$5,900

$9,050

$1,225 plus 28% of the excess over $5,900

$9,050

$12,300

$2,107 plus 33% of the excess over $9,050

$12,300

no limit

$3,179.50 plus 39.6% of the excess over $12,300

Social Security 2015 Tax Rates


Base Salary

$118,500

Social Security Tax Rate

6.2%

Maximum Social Security Tax

$7,347.00

Medicare Base Salary

unlimited

Medicare Tax Rate

1.45%

Additional Medicare 2015 Tax Rates


Additional Medicare Tax

0.9%
Filing statusCompensation over

Married filing jointly

$250,000

Married filing separate

$125,000

Single

$200,000

Head of household (with qualifying person)

$200,000

Qualifying widow(er) with dependent child

$200,000

Education 2015 Credit and Deduction Limits


American Opportunity Tax Credit

$2,500

Lifetime Learning Credit

$2,000

Student Loan Interest Deduction

$2,500

Coverdell Education Savings Contribution

$2,000

Miscellaneous 2015 Tax Rates


Personal Exemption (Adjusted Gross Income below $154,950)

$4,000

Business Equipment Expense Deduction

$25,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2014 tax liability

Standard mileage rate for business driving

57.5 cents

Standard mileage rate for medical/moving driving

23.0 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$1,000 per qualifying child

Unearned income maximum for children before kiddie tax applies

$1,050

Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket

0%

Maximum capital gains tax rate for taxpayers in the 25%, 28%, 33%, or 35% bracket

15%

Maximum capital gains tax rate for taxpayers in the 39.6% bracket

20%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles and qualified small business stock

28%

Maximum contribution for Traditional/Roth IRA

$5,500 if under age 50
$6,500 if 50 or older

Maximum employee contribution to SIMPLE IRA

$12,500 if under age 50
$15,500 if 50 or older

Maximum Contribution to SEP IRA

25% of compensation up to $53,000

401(k) maximum employee contribution limit

$18,000 if under age 50
$24,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$5,430,000

Annual Exclusion for Gifts

$14,000