Tax Rates

2015 tax rates

Table 1 – Section 1(a) Married Filing Jointly and Surviving Spouse
If taxable income is over – But Not Over – The Tax is:
$0 $18,450 10% of the taxable amount
$18,451 $74,900 $1,845 plus 15% of the amount over $18,450
$74,901 $151,200 $10,312.50 plus 25% of the amount over $74,900
$151,201 $230,450 $29,387.50 plus 28% of the amount over $151,200
$230,451 $411,500 $51,577.50 plus 33% of the amount over $230,451
$411,501 $464,850 $111,324 plus 35% of the amount over $411,500
$464,851 no limit $129,996.50 plus 39.6% of the amount over $464,850
Table 2 – Section 1(b) – Head of Household
If taxable income is over – But Not Over – The Tax is:
$0 $13,150 10% of the taxable amount
$13,151 $50,200 $1,315 plus 15% of the amount over $13,150
$50,201 $129,600 $6,872.50 plus 25% of the amount over $50,200
$129,601 $209,850 $26,722.50 plus 28% of the amount over $129,600
$209,851 $411,500 $49,192 plus 33% of the amount over $209,850
$411,501 $439,000 $115,737 plus 35% of the amount over $411,500
$439,001 no limit $125,362 plus 39.6% of the amount over $439,000
Table 3 – Section 1(c) – Unmarried Individuals (other than Surviving Spouses and Heads of Household)
If taxable income is over – But Not Over – The Tax is:
$0 $9,225 10% of the taxable amount
$9,226 $37,450 $922.50 plus 15% of the amount over $9,225
$37,451 $90,750 $5,156.25 plus 25% of the amount over $37,450
$70,751 $189,300 $18,481.25 plus 28% of the amount over $90,750
$189,301 $411,500 $46,075.25 plus 33% of the amount over $189,300
$411,501 $413,200 $119,401.25 plus 35% of the amount over $411,500
$413,201 no limit $118,188.75 plus 39.6% of the amount over $413,200
Table 4 – Section 1(d) – Married Individuals Filing Separate Returns
If taxable income is over – But Not Over – The Tax is:
$0 $9,225 10% of the taxable amount
$9,226 $37,450 $922.50 plus 15% of the amount over $9,225
$37,451 $75,600 $5,156.25 plus 25% of the amount over $37,450
$75,601 $115,225 $14,693.75 plus 28% of the amount over $75,600
$115,226 $205,750 $25,788.75 plus 33% of the amount over $115,225
$205,751 $232,425 $55,662 plus 35% of the amount over $202,550
$232,426 no limit $64,989.25 plus 39.6% of the amount over $232,425
Table 5 – Section 1(e) – Estates & Trusts
If taxable income is over – But Not Over – The Tax is:
$0 $2,500 15% of the taxable amount
$2,501 $5,900 $375 plus 25% of the amount over $2,500
$5,901 $9,050 $1,225 plus 28% of the amount over $5,900
$9,050 $12,300 $2,107 plus 33% of the amount over $9,050
$12,300 no limit $3,179.50 plus 39.6% of the amount over $12,300
Table 6 – Education Tax Rates
Hope Scholarship Credit $2,500
Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000
Table 7 – Social Security Tax Rates and Maximum Taxable Earnings
Maximum Taxable Earnings $117,000
Social Security Tax Rate 6.20%
$7,254
Medicare Base Salary Unlimited
Medicare Tax Rate 1.45%
Miscellaneous Tax Rates
Child Tax Credit $1,000
Personal Exemption $3,900
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2013 tax liability
Standard mileage rate for business driving 56 cents
Standard mileage rate for medical/moving driving 23.5 cents
Standard mileage rate for charitable driving 14 cents
Unearned income maximum for children before kiddie tax applies $1,000
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 15%
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 $12,000 if under age 50
$14,500 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $51,000
401(k) maximum employee contribution limit $17,500 if under age 50
$23,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $5,340,000
Annual Exclusion for Gifts $14,000
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