• 2016 Tax RatesSingle Taxpayers – Standard Deduction $6,300
  • 2015 Rates
  • 10%
  • 0 to $9,275
  • 15%
  • $9,275 to $37,650
  • 25%
  • $37,650 to $91,150
  • 28%
  • $91,150 to $190,150
  • 33%
  • $190,150 to $413,350
  • 35%
  • $413,350 to $415,050
  • 39.6%
  • Over $415,050
  • 2016 Tax RatesMarried Jointly & Surviving Spouses – Standard Deduction $12,600
  • 10%
  • 0 to $18,550
  • 15%
  • $18,550 to $75,300
  • 25%
  • $75,300 to $151,900
  • 28%
  • $151,900 to $231,450
  • 33%
  • $231,450 to $413,350
  • 35%
  • $413,350 to $466,950
  • 39.6%
  • Over $466,950
  • 2016 Tax RatesMarried Filing Separately – Standard Deduction $6,300
  • 10%
  • 0 to $9,275
  • 15%
  • $9,275 to $37,650
  • 25%
  • $37,650 to $75,950
  • 28%
  • $75,950 to $115,725
  • 33%
  • $115,725 to $206,675
  • 35%
  • $206,675 to $233,475
  • 39.6%
  • Over $233,475
  • 2016 Tax RatesHead of Household – Standard Deduction $9,300
  • 10%
  • 0 to $13,250
  • 15%
  • $13,250 to $50,400
  • 25%
  • $50,400 to $130,150
  • 28%
  • $130,150 to $210,800
  • 33%
  • $210,800 to $413,350
  • 35%
  • $413,350 to $441,000
  • 39.6%
  • Over $441,000
  • 2016 Tax RatesEstates & Trusts
  • 15%
  • 0 to $2,550
  • 25%
  • $2,550 to $5,950
  • 28%
  • $5,950 to $9,050
  • 33%
  • $9,050 to $12,400
  • 39.6%
  • Over $12,400
  • Social Security
  • 2016 Tax Rates
  • Social Security Tax Rate: Employers
  • 6.2%
  • Social Security Tax Rate: Employees
  • 6.2%
  • Social Security Tax Rate: Self-Employed
  • 12.4%
  • Maximum Taxable Earnings
  • $118,500
  • Medicare Base Salary
  • Unlimited
  • Medicare Tax Rate
  • 1.45%
  • Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers)
  • 0.9%
  • Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers)
  • 3.8%
  • Miscellaneous
  • 2016 Tax Rates
  • Personal Exemption
  • $4,050
  • Business expensing limit: Cap on equipment purchases
  • $2,000,000
  • Business expensing limit: New and Used Equipment and Software
  • $500,000
  • Prior-year safe harbor for estimated taxes of higher-income
  • 110% of your 2016 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
  • Unearned income maximum for children under 19 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 above the 15% bracket but below the 39.6% 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
  • $12,500 if under age 50
    $15,500 if 50 or older
  • Maximum Contribution to SEP IRA
  • 25% of eligible compensation
    up to $53,000
  • 401(k) maximum employee contribution limit
  • $18,000 if under age 50
    $24,000 if 50 or older
  • Estate tax exemption
  • $5,450,000
  • Annual Exclusion for Gifts
  • $14,000
  • Education
  • 2016 Tax Rates
  • American Opportunity Credit (Hope)
  • $2,500
  • Lifetime Learning Credit
  • $2,000
  • Student Loan Interest Deduction
  • $2,500
  • Coverdell Education Savings Contribution
  • $2,000
  • Standard Meal Rates for Family Child Care Providers for 2015 income tax returns
  • Continental U.S.
  • 2015 Tax Rates
  • For each breakfast
  • $1.66
  • For each lunch or supper
  • $3.07
  • For each snack (up to 3 per day for each child)
  • $0.84
  • Alaska
  • 2015 Tax Rates
  • For each breakfast
  • $2.66
  • For each lunch or supper
  • $4.99
  • For each snack (up to 3 per day for each child)
  • $1.37
  • Hawaii
  • 2015 Tax Rates
  • For each breakfast
  • $1.94
  • For each lunch or supper
  • $3.60
  • For each snack (up to 3 per day for each child)
  • $0.99