2015 Tax Rates |
|
Filing Status: Single |
|
Taxable Income ($) |
Tax Rate (%) |
0 – $ 9,225 |
10% |
$ 9,226 – $ 37,450 |
15% |
$ 37,451 – $ 90,750 |
25% |
$ 90,751 – $ 189,300 |
28% |
$ 189,301 – $ 411,500 |
33% |
$ 411,501 – $ 413,200 |
35% |
$ 413,201 + |
39.6% |
|
|
Filing Status: Married Filing Jointly |
|
Taxable Income ($) |
Tax Rate (%) |
0 – $ 18,450 |
10% |
$ 18,451 – $ 74,900 |
15% |
$ 74,901 – $ 151,200 |
25% |
$ 151,201 – $ 230,450 |
28% |
$ 230,451 – $ 411,500 |
33% |
$ 411,501 – $ 464,850 |
35% |
$ 464,851 + |
39.6% |
|
|
Filing Status: Married Filing Seperately |
|
Taxable Income ($) |
Tax Rate (%) |
0 – $ 9,225 |
10% |
$ 9,226 – $ 37,450 |
15% |
$ 37,451 – $ 75,600 |
25% |
$ 75,601 – $ 115,225 |
28% |
$ 115,226 – $ 205,750 |
33% |
$ 205,751 – $ 232,425 |
35% |
$ 232,426 + |
39.6% |
|
|
Filing Status: Head of Household |
|
Taxable Income ($) |
Tax Rate (%) |
0 – $ 13,150 |
10% |
$ 13,151 – $ 50,200 |
15% |
$ 50,201 – $129,600 |
25% |
$ 129,601 – $ 209,850 |
28% |
$ 209,851 – $ 411,500 |
33% |
$ 411,501 – $ 439,000 |
35% |
$ 439,001 + |
39.6% |
|
|
Estates & Trusts |
|
Taxable Income ($) |
Tax Rates (%) |
0 – $ 2,500 |
15% |
$ 2,501 – $ 5,900 |
25% |
$ 5,901 – $ 9,050 |
28% |
$ 9,051 – $ 12,300 |
33% |
$ 12,301 + |
39.6% |
|
|
Corporations |
|
Taxable Income ($) |
Tax Rates (%) |
0 – $ 50,000 |
15% |
$ 50,001 – $ 75,000 |
25% |
$ 75,001 – $ 100,000 |
34% |
$ 100,001 – $ 335,000 |
39% |
$ 335,001 – $ 10,000,000 |
34% |
$ 10,000,001 – $ 15,000,000 |
35% |
$ 15,000,001 – $ 18,333,333 |
38% |
|
|
Employment Taxes |
|
Social Security – Employee |
6.2% |
Social Security – Employer |
6.2% |
Social Security – Wage Base Maximum |
$ 118,500 |
Medicare – Employee |
1.45% |
Medicare – Employer |
1.45% |
Medicare – Wage Base Maximum |
Unlimited |
Self-Employment Tax |
15.3% |
Additional Medicare Tax for High-Income |
|
Taxpayers |
0.9% |
Add’l Medicare Tax Income Thresholds |
$ 200,000 (single) & $ 250,000 (joint) |
Medicare Tax on Net Investment Income |
3.8% |
Net Investment Income Thresholds |
$ 200,000 (single) & $ 250,000 (joint) |
|
|
Miscellaneous |
|
Capital Gains Tax Rates: |
|
Taxpayers in 10 – 15% Brackets |
0% |
Taxpayers in 25 – 35% Brackets |
15% |
Taxpayers in 39.6% Bracket |
20% |
Unrecaptured Sec. 1250 Gains |
25% |
Collectibles (Capital Gains) |
28% |
|
|
Section 179 Expensing: |
|
Deduction Limit |
$ 25,000 |
Purchases Limit |
$ 200,000 |
|
|
Standard Mileage Rates: |
|
Business Mileage |
57.5 cents |
Medical Mileage |
23 cents |
Charitable Mileage |
14 cents |
|
|
Estimated Tax “Safe Harbor” Requirements: |
|
Prior Year “AGI” > $ 150,000 |
110% of Prior Year Tax |
Prior Year “AGI” < $ 150,000 |
100% of Prior Year Tax |
|
|
Retirement Plan Contribution Limits: |
|
Traditional IRAs & Roth IRAs (< 50) |
$ 5,500 |
Traditional IRAs & Roth IRAs (> 50) |
$ 6,500 |
SIMPLE IRA – Employee (< 50) |
$ 12,500 |
SIMPLE IRA – Employee (> 50) |
$ 15,500 |
SEP IRA |
25% of Eligible Compensation ($ 53,000 max.) |
401(k) – Employee (< 50) |
$ 18,000 |
401(k) – Employee (> 50) |
$ 24,000 |
|
|
Education Deductions & Credits: |
|
Student Loan Interest |
$ 2,500 |
American Opportunity Credit (Hope) |
$ 2,500 |
Lifetime Learning Credit |
$ 2,000 |
|
|
Filing Requirements – Income Thresholds: |
|
For Most Taxpayers (Non-Dependents): |
|
Single Taxpayers |
$ 10,150 |
Married Filing Jointly |
$ 20,300 |
Married Filing Seperately |
$ 3,950 |
Head of Household |
$ 13,050 |
|
|
Children & Other Dependents: |
|
Unearned Income |
$ 1,000 |
Earned Income |
$ 6,200 |
|
|
|
|
Personal Exemption |
$ 4,000 |
Child Tax Credit |
$ 1,000 |
|
|
Estate Tax Exemption (Lifetime) |
$ 5,430,000 |
Gift Tax Annual Exclusion |
$ 14,000 |
|
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