Tax Rates 2015

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2015 Tax Rates Schedule X – Single
If taxable income is over But not over The tax is
$0 $9,225 10% of the taxable amount
$9,225 $37,450 $922.50 plus 15% of the excess over $9,225
$37,450 $90,750 $5,156.25 plus 25% of the excess over $37,450
$90,750 $189,300 $18,481.25 plus 28% of the excess over $90,750
$189,300 $411,500 $46,075.25 plus 33% of the excess over $189,300
$411,500 $413,200 $119,401.25 plus 35% of the excess over $411,500
Over $413,200 no limit $119,996.25 plus 39.6% of the excess over $413,200
2015 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)
If taxable income is over But not over The tax is
$0 $18,450 10% of the taxable amount
$18,450 $74,900 $1,845 plus 15% of the excess over $18,450
$74,900 $151,200 $10,312.50 plus 25% of the excess over $74,900
$151,200 $230,450 $29,387.50 plus 28% of the excess over $151,200
$230,450 $411,500 $51,577.50 plus 33% of the excess over $230,450
$411,500 $464,850 $111,324 plus 35% of the excess over $411,500
$464,850 no limit $129,996.50 plus 39.6% of the excess over $464,850
2015 Tax Rates Schedule Y-2 – Married Filing Separately
If taxable income is over But not over The tax is
$0 $9,225 10% of the taxable amount
$9,225 $37,450 $922.50 plus 15% of the excess over $9,225
$37,450 $75,600 $5,156.25 plus 25% of the excess over $37,450
$75,600 $115,225 $14,693.75 plus 28% of the excess over $75,600
$115,225 $205,750 $25,788.75 plus 33% of the excess over $115,225
$205,750 $232,425 $55,662 plus 35% of the excess over $205,750
Over $232,425 no limit $64,998.25 plus 39.6% of the excess over $232,245
2015 Tax Rates Schedule Z – Head of Household
If taxable income is over But not over The tax is
$0 $13,150 10% of the taxable amount
$13,150 $50,200 $1,315 plus 15% of the excess over $13,150
$50,200 $129,600 $6,872.50 plus 25% of the excess over $50,200
$129,600 $209,850 $26,722.50 plus 28% of the excess over $129,600
$209,850 $411,500 $49,192.50 plus 33% of the excess over $209,850
$411,500 $439,000 $115,737 plus 35% of the excess over $411,500
$439,000 no limit $125,362 plus 39.6% of the excess over $439,000
2015 Tax Rates Estates & Trusts
If taxable income is over But not over The tax is
$0 $2,500 15% of the taxable income
$2,500 $5,900 $375 plus 25% of the excess over $2,500
$5,900 $9,050 $1,225 plus 28% of the excess over $5,900
$9,050 $12,300 $2,107 plus 33% of the excess over $9,050
$12,300 no limit $3,179.50 plus 39.6% of the excess over $12,300
Social Security 2015 Tax Rates
Base Salary $118,500
Social Security Tax Rate 6.2%
Maximum Social Security Tax $7,347.00
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%
Education 2015 Tax Rates
American Opportunity Tax Credit $2,500
Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000
Miscellaneous 2015 Tax Rates
Personal Exemption (Adjusted Gross Income below $154,950) $4,000
Business Equipment Expense Deduction $25,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2014 tax liability
Standard mileage rate for business driving 57.5 cents
Standard mileage rate for medical/moving driving 23.0 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $1,000 per qualifying child
Unearned income maximum for children 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 in the 25%, 28%, 33%, or 35% 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 and qualified small business stock 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 compensation up to $53,000
401(k) maximum employee contribution limit $18,000 if under age 50
$24,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $5,430,000
Annual Exclusion for Gifts $14,000