Tax Rates

10%

0 to $9,225

15%

$9,225 to $37,450

25%

$37,450 to $90,750

28%

$90,750 to $189,300

33%

$189,300 to $411,500

35%

$411,500 to $413,200

39.6%

Over $413,200

2015 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,600

10%

0 to $18,450

15%

$18,450 to $74,900

25%

$74,900 to $151,200

28%

$151,200 to $230,450

33%

$230,450 to $411,500

35%

$411,500 to $464,850

39.6%

Over $464,850

2015 Tax Rates – Married Filing Separately – Standard Deduction $6,300

10%

0 to $9,225

15%

$9,225 to $37,450

25%

$37,450 to $75,600

28%

$75,600 to $115,225

33%

$115,225 to $205,750

35%

$205,750 to $232,425

39.6%

Over $232,425

2015 Tax Rates – Head of Household – Standard Deduction $9,250

10%

0 to $13,150

15%

$13,150 to $50,200

25%

$50,200 to $129,600

28%

$129,600 to $209,850

33%

$209,850 to $411,500

35%

$411,500 to $439,000

39.6%

Over $439,000

2015 Tax Rates – Estates & Trusts

15%

0 to $2,500

25%

$2,500 to $5,900

28%

$5,900 to $9,050

33%

$9,050 to $12,300

39.6%

Over $12,300

Social Security

2015 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

2015 Tax Rates

Business expensing limit: Cap on equipment purchases

$200,000

Business expensing limit: New and Used Equipment and Software

$25,000

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

110% of your 2015 tax liability

Standard mileage rate for business driving

57.5 cents

Standard mileage rate for medical/moving driving

23 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

$5,430,000

Annual Exclusion for Gifts

$14,000

Education

2015 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