| 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 |
