Tax Rates
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10% |
0 to $9,275 |
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15% |
$9,275 to $37,650 |
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25% |
$37,650 to $91,150 |
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28% |
$91,150 to $190,150 |
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33% |
$190,150 to $413,350 |
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35% |
$413,350 to $415,050 |
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39.6% |
Over $415,050 |
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2016 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,600 |
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10% |
0 to $18,550 |
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15% |
$18,550 to $75,300 |
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25% |
$75,300 to $151,900 |
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28% |
$151,900 to $231,450 |
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33% |
$231,450 to $413,350 |
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35% |
$413,350 to $466,950 |
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39.6% |
Over $466,950 |
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2016 Tax Rates – Married Filing Separately – Standard Deduction $6,300 |
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10% |
0 to $9,275 |
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15% |
$9,275 to $37,650 |
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25% |
$37,650 to $75,950 |
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28% |
$75,950 to $115,725 |
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33% |
$115,725 to $206,675 |
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35% |
$206,675 to $233,475 |
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39.6% |
Over $233,475 |
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2016 Tax Rates – Head of Household – Standard Deduction $9,300 |
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10% |
0 to $13,250 |
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15% |
$13,250 to $50,400 |
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25% |
$50,400 to $130,150 |
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28% |
$130,150 to $210,800 |
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33% |
$210,800 to $413,350 |
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35% |
$413,350 to $441,000 |
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39.6% |
Over $441,000 |
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2016 Tax Rates – Estates & Trusts |
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15% |
0 to $2,550 |
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25% |
$2,550 to $5,950 |
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28% |
$5,950 to $9,050 |
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33% |
$9,050 to $12,400 |
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39.6% |
Over $12,400 |
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Social Security |
2016 Tax Rates |
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Social Security Tax Rate: Employers |
6.2% |
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Social Security Tax Rate: Employees |
6.2% |
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Social Security Tax Rate: Self-Employed |
12.4% |
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Maximum Taxable Earnings |
$118,500 |
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Medicare Base Salary |
Unlimited |
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Medicare Tax Rate |
1.45% |
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Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) |
0.9% |
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Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) |
3.8% |
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Miscellaneous |
2016 Tax Rates |
| Personal Exemption | $4,050 |
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Business expensing limit: Cap on equipment purchases |
$2,000,000 |
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Business expensing limit: New and Used Equipment and Software |
$500,000 |
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Prior-year safe harbor for estimated taxes of higher-income |
110% of your 2016 tax liability |
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Standard mileage rate for business driving |
54 cents |
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Standard mileage rate for medical/moving driving |
19 cents |
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Standard mileage rate for charitable driving |
14 cents |
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Child Tax Credit |
$1,000 |
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Unearned income maximum for children under 19 before kiddie tax applies |
$1,050 |
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Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket |
0% |
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Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket |
15% |
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Maximum capital gains tax rate for taxpayers in the 39.6% bracket |
20% |
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Capital gains tax rate for unrecaptured Sec. 1250 gains |
25% |
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Capital gains tax rate on collectibles |
28% |
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Maximum contribution for Traditional/Roth IRA |
$5,500 if under age 50 |
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Maximum employee contribution to SIMPLE IRA |
$12,500 if under age 50 |
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Maximum Contribution to SEP IRA |
25% of eligible compensation |
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401(k) maximum employee contribution limit |
$18,000 if under age 50 |
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Estate tax exemption |
$5,450,000 |
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Annual Exclusion for Gifts |
$14,000 |
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Education |
2016 Tax Rates |
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American Opportunity Credit (Hope) |
$2,500 |
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Lifetime Learning Credit |
$2,000 |
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Student Loan Interest Deduction |
$2,500 |
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Coverdell Education Savings Contribution |
$2,000 |
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Standard Meal Rates for Family Child Care Providers for 2016 income tax returns |
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Continental U.S. |
2016 Tax Rates |
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For each breakfast |
$1.31 |
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For each lunch or supper |
$2.46 |
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For each snack (up to 3 per day for each child) |
$0.73 |
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Alaska |
2016 Tax Rates |
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For each breakfast |
$2.09 |
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For each lunch or supper |
$3.99 |
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For each snack (up to 3 per day for each child) |
$1.19 |
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Hawaii |
2016 Tax Rates |
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For each breakfast |
$1.53 |
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For each lunch or supper |
$2.88 |
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For each snack (up to 3 per day for each child) |
$0.86 |