TAX RATES

2016 Tax Rates Schedule X - Single

If taxable income is over

But not over

The tax is

$0

$9,225

$37,450

$90,750

$189,300

$411,500

Over $413,200

$9,225

$37,450

$90,750

$189,300

$411,500

$413,200

no limit

10% of the taxable amount

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

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

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

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

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

$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

$74,900

$151,200

$230,450

$411,500

$464,850

$18,450

$74,900

$151,200

$230,450

$411,500

$464,850

no limit

10% of the taxable amount

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

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

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

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

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

$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

$37,450

$75,600

$115,225

$205,750

Over $232,425

$9,225

$37,450

$75,600

$115,225

$205,750

$232,425

no limit

10% of the taxable amount

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

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

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

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

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

$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

$50,200

$129,600

$209,850

$411,500

$439,000

$13,150

$50,200

$129,600

$209,850

$411,500

​$439,000

no limit

10% of the taxable amount

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

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

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

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

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

$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

$5,900

$9,050

$12,300

$2,500

$5,900

$9,050

$12,300

no limit

15% of the taxable income

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

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

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

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

Social Security 2015 Tax Rates

Base Salary

Social Security Tax Rate

Maximum Social Security Tax

Medicare Base Salary

Medicare Tax Rate

$118,500

6.2%

$7,347.00

unlimited

1.45%

Additional Medicare 2015 Tax Rates

Additional Medicare Tax

Filing status

Married filing jointly

Married filing separate

Single

Head of household (with qualifying person)

Qualifying widow(er) with dependent child

0.9%

Compensation over

$250,000

$125,000

$200,000

$200,000

$200,000

Education 2015 Credit and Deduction Limits

American Opportunity Tax Credit (Hope)

Lifetime Learning Credit

Student Loan Interest Deduction

Coverdell Education Savings Contribution

$2,500

$2,000

$2,500

$2,000

Miscellaneous 2015 Tax Rates

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

Business Equipment Expense Deduction

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

Standard mileage rate for business driving

Standard mileage rate for medical/moving driving

Standard mileage rate for charitable driving

Child Tax Credit

Unearned income maximum for children before kiddie tax applies

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

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

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

Capital gains tax rate for unrecaptured Sec. 1250 gains

Capital gains tax rate on collectibles and qualified small business stock

Maximum contribution for Traditional/Roth IRA

Maximum employee contribution to SIMPLE IRA

Maximum Contribution to SEP IRA

401(k) maximum employee contribution limit

Self-employed health insurance deduction

Estate tax exemption

Annual Exclusion for Gifts

$4,000

$500,000

110% of your 2014 tax liability

57.5 cents

23.0 cents

14 cents

$1,000 per qualifying child

$1,050

0%

15%

20%

25%

28%

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

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

25% of compensation up to $53,000

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

100%

$5,430,000

$14,000

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