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Tax Rates
2017 Tax Rates - Single
| Taxable Income | Tax Rate |
|---|---|
| $0—$9,325 | 10% |
| $9,326—$37,950 | $932.50 plus 15% of the amount over $9,325 |
| $37,951—$91,900 | $18,713.75 plus 28% of the amount over $91,900 |
| $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—$18,650 | 10% |
| $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 - $9,325 | 10% |
| $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 - $13,350 | 10% |
| $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 Status | Standard 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 Status | Income |
|---|---|
| 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 Status | Exemption 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 Status | PEP Threshold Starts | PEP Threshold Ends |
|---|---|---|
| Single | $261,500 | $384,000 |
| Married Filing Jointly | $313,800 | $436,300 |
| Head of Household | $287,650 | $410,150 |
2016 Tax Rates - Single
| Taxable Income | Tax Rate |
|---|---|
| $0—$9,275 | 10% |
| $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—$18,550 | 10% |
| $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 Income | Tax Rate |
|---|---|
| $0—$9,275 | 10% |
| $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—$13,250 | 10% |
| $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 Status | PEP Threshold Starts | PEP 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 Status | Standard Deduction |
|---|---|
| Single | $6,300 |
| Married Filing Jointly | $12,600 |
| $50,401—$130,150 | $6,897.50 plus 25% of the amount over $50,400 |
| 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
| Filing Status | Compensation over |
|---|---|
| Additional Medicare Tax | 0.9% |
| 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 |
