Tax Rates

2016

2016 Tax Rates Schedule X - Single

If taxable income is over But not over The tax is
$0 $9,275 10% of the taxable amount
$9,275 $37,650 $927.50 plus 15% of the excess over $9,275
$37,650 $91,150 $5,183.75 plus 25% of the excess over $37,650
$91,150 $190,150 $18,558.75 plus 28% of the excess over $91,150
$190,150 $413,350 $46,278.75 plus 33% of the excess over $190,150
$413,350 $415,050 $119,934.75 plus 35% of the excess over $413,350
Over $415,050 no limit $120,529.75 plus 39.6% of the excess over $415,050

2016 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over But not over The tax is
$0 $18,550 10% of the taxable amount
$18,550 $75,300 $1,855 plus 15% of the excess over $18,550
$75,300 $151,900 $10,367.50 plus 25% of the excess over $75,300
$151,900 $231,450 $29,517.50 plus 28% of the excess over $151,900
$231,450 $413,350 $51,791.50 plus 33% of the excess over $231,450
$413,350 $466,950 $111,818.50 plus 35% of the excess over $413,350
$466,950 no limit $130,578.50 plus 39.6% of the excess over $466,950

2016 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over But not over The tax is
$0 $9,275 10% of the taxable amount
$9,275 $37,650 $927.50 plus 15% of the excess over $9,275
$37,650 $75,950 $5,183.75 plus 25% of the excess over $37,650
$75,950 $115,725 $14,758.75 plus 28% of the excess over $75,950
$115,725 $206,675 $25,895.75 plus 33% of the excess over $115,725
$206,675 $233,475 $55,909.25 plus 35% of the excess over $206,675
Over $233,475 no limit $65,289.25 plus 39.6% of the excess over $233,475

2016 Tax Rates Schedule Z - Head of Household

If taxable income is over But not over The tax is
$0 $13,250 10% of the taxable amount
$13,250 $50,400 $1,325 plus 15% of the excess over $13,250
$50,400 $130,150 $6,897.50 plus 25% of the excess over $50,400
$130,150 $210,800 $26,835 plus 28% of the excess over $130,150
$210,800 $413,350 $49,417 plus 33% of the excess over $210,800
$413,350 $441,000 $116,258.50 plus 35% of the excess over $413,350
$441,000 no limit $125,936 plus 39.6% of the excess over $441,000

2016 Tax Rates Estates & Trusts

If taxable income is over But not over The tax is
$0 $2,550 15% of the taxable income
$2,550 $5,950 $382.50 plus 25% of the excess over $2,550
$5,950 $9,050 $1,232.50 plus 28% of the excess over $5,950
$9,050 $12,400 $2,100.50 plus 33% of the excess over $9,050
$12,400 no limit $3,206 plus 39.6% of the excess over $12,400

Social Security 2016 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 2016 Tax Rates


Additional Medicare Tax 0.9%
Filing status Compensation 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 2016 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 2016 Tax Rates


Personal Exemption (Adjusted Gross Income below $155,650) $4,050
Business Equipment Expense Deduction $500,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2015 tax liability
Standard mileage rate for business driving 54 cents
Standard mileage rate for medical/moving driving 19 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 $5,450,000
Annual Exclusion for Gifts $14,000
Foreign Earned Income Exclusion $101,300

2015

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 status Compensation 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 $500,000
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

2014

2014 Tax Rates Schedule X - Single

If taxable income is over But not over The tax is
$0 $9,075 10% of the taxable amount
$9,075 $36,900 $907.50 plus 15% of the excess over $9,075
$36,900 $89,350 $5,081.25 plus 25% of the excess over $36,900
$89,350 $186,350 $18,193.75 plus 28% of the excess over $89,350
$186,350 $405,100 $45,353.75 plus 33% of the excess over $186,350
$405,100 $406,750 $117,541.25 plus 35% of the excess over $405,100
Over $406,750 no limit $118,118.75 plus 39.6% of the excess over $406,750

2014 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over But not over The tax is
$0 $18,150 10% of the taxable amount
$18,150 $73,800 $1,815 plus 15% of the excess over $18,150
$73,800 $148,850 $10,162.50 plus 25% of the excess over $73,800
$148,850 $226,850 $28,925 plus 28% of the excess over $148,850
$226,850 $405,100 $50,765 plus 33% of the excess over $226,850
$405,100 $457,600 $109,587.50 plus 35% of the excess over $405,100
$457,600 no limit $127,962.50 plus 39.6% of the excess over $457,600

2014 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over But not over The tax is
$0 $9,075 10% of the taxable amount
$9,075 $36,900 $907.50 plus 15% of the excess over $9,075
$36,900 $74,425 $5,081.25 plus 25% of the excess over $36,900
$74,425 $113,425 $14,462.50 plus 28% of the excess over $74,425
$113,425 $202,550 $25,382.50 plus 33% of the excess over $113,425
$202,550 $228,800 $54,793.75 plus 35% of the excess over $202,550
Over $228,800 no limit $63,981.25 plus 39.6% of the excess over $228,800

2014 Tax Rates Schedule Z - Head of Household

If taxable income is over But not over The tax is
$0 $12,950 10% of the taxable amount
$12,950 $49,400 $1,295 plus 15% of the excess over $12,950
$49,400 $127,550 $6,762.50 plus 25% of the excess over $49,400
$127,550 $206,600 $26,300 plus 28% of the excess over $127,550
$206,600 $405,100 $48,434 plus 33% of the excess over $206,600
$405,100 $432,200 $113,939 plus 35% of the excess over $405,100
$432,200 no limit $123,424 plus 39.6% of the excess over $432,200

2014 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 $5,800 $375 plus 25% of the excess over $2,500
$5,800 $8,900 $1,200 plus 28% of the excess over $5,800
$8,900 $12,150 $2,068 plus 33% of the excess over $8,900
$12,150 no limit $3,140.50 plus 39.6% of the excess over $12,150

Social Security 2014 Tax Rates


Base Salary $117,000
Social Security Tax Rate 6.2%
Maximum Social Security Tax $7,254.00
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2014 Tax Rates


Additional Medicare Tax 0.9%
Filing status Compensation 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 2014 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 2014 Tax Rates


Personal Exemption $3,950
Business Equipment Expense Deduction $500,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2013 tax liability
Standard mileage rate for business driving 56 cents
Standard mileage rate for medical/moving driving 23.5 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 $1,000
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 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

$12,000 if under age 50
$14,500 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $52,000

401(k) maximum employee contribution limit

$17,500 if under age 50
$23,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $5,340,000
Annual Exclusion for Gifts $14,000

2013

2013 Tax Rates Schedule X - Single

If taxable income is over But not over The tax is
$0

$8,925

10% of the taxable amount

$8,925

$36,250

$892.50 plus 15% of the excess over $8,925

$36,250

$87,850

$4,991.25 plus 25% of the excess over $36,250

$87,850

$183,250

$17,891.25 plus 28% of the excess over $87,850

$183,250

$398,350

$44,603.25 plus 33% of the excess over $183,250

$398,350

$400,000

$115,586.25 plus 35% of the excess over $398,350

Over $400,000

no limit

$116,163.75 plus 39.6% of the excess over $400,000

2013 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over But not over The tax is
$0

$17,850

10% of the taxable amount

$17,850

$72,500

$1,785 plus 15% of the excess over $17,850

$72,500

$146,400

$9,982.50 plus 25% of the excess over $72,500

$146,400

$223,050

$28,457.50 plus 28% of the excess over $146,400

$223,050

$398,350

$49,919.50 plus 33% of the excess over $223,050

$398,350

$450,000

$107,768.50 plus 35% of the excess over $398,350

$450,000

no limit

$125,846 plus 39.6% of the excess over $450,000

2013 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over But not over The tax is
$0

$8,925

10% of the taxable amount

$8,925

$36,250

$892.50 plus 15% of the excess over $8,925

$36,250

$73,200

$4,991.25 plus 25% of the excess over $36,250

$73,200

$111,525

$14,228.75 plus 28% of the excess over $73,200

$111,525

$199,175

$24,959.75 plus 33% of the excess over $111,525

$199,175

$225,000

$53,884.25 plus 35% of the excess over $199,175

Over $225,000

no limit

$62,923 plus 39.6% of the excess over $225,000

2013 Tax Rates Schedule Z - Head of Household

If taxable income is over But not over The tax is
$0

$12,750

10% of the taxable amount

$12,750

$48,600

$1,275 plus 15% of the excess over $12,750

$48,600

$125,450

$6,652.50 plus 25% of the excess over $48,600

$125,450

$203,150

$25,865 plus 28% of the excess over $125,450

$203,150

$398,350

$47,621 plus 33% of the excess over $203,150

$398,350

$425,000

$112,037 plus 35% of the excess over $398,350

$425,000

no limit

$121,364.50 plus 39.6% of the excess over $425,000

2013 Tax Rates Estates & Trusts

If taxable income is over But not over The tax is
$0

$2,450

15% of the taxable income

$2,450

$5,700

$367.50 plus 25% of the excess over $2,450

$5,700

$8,750

$1,180 plus 28% of the excess over $5,700

$8,750

$11,950

$2,034 plus 33% of the excess over $8,750

$11,950

no limit

$3,090 plus 39.6% of the excess over $11,950

Social Security 2013 Tax Rates


Base Salary

$113,700

Social Security Tax Rate

6.2%

Maximum Social Security Tax

$7,049.40

Medicare Base Salary

unlimited

Medicare Tax Rate

1.45%

Additional Medicare 2013 Tax Rates


Additional Medicare Tax

0.9%

Filing status

Compensation 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 2013 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 2013 Tax Rates


Personal Exemption

$3,900

Business Equipment Expense Deduction

$500,000

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

110% of your 2012 tax liability

Standard mileage rate for business driving

56.5 cents

Standard mileage rate for medical/moving driving

24 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$1,000

Unearned income maximum for children before kiddie tax applies

$1,000

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

0%

Maximum capital gains tax rate for taxpayers above the 15% bracket

15%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles

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

$12,000 if under age 50
$14,500 if 50 or older

Maximum Contribution to SEP IRA

25% of compensation up to $51,000

401(k) maximum employee contribution limit

$17,500 if under age 50
$23,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$5,250,000

Annual Exclusion for Gifts

$14,000