Broker Check

Individual Income Tax Rates

Single

OverNot OverRate
$0$9,52510%
$9,526$38,70012%
$38,701$82,50022%
$82,501$157,50024%
$157,501$200,00032%
$200,001$500,00035%
$500,001and over37%

Married Filing Jointly

OverNot OverRate
$0$19,05010%
$19,051$77,40012%
$77,401$165,00022%
$165,001$315,00024%
$315,001$400,00032%
$400,001$600,00035%
$600,001and over37%





















Standard Deduction

Married Filing Jointly$24,000
Single$12,000
Head of Household$18,000
Married Filing Separately$12,000
Additional - Blind or Elderly 
     Single$1,600
     Married$1,300


Personal Exemption

Deduction for each taxpayer spouse and dependent$0 (New)

Exemptions are still used in some calculations but a deductible amount is no longer given.

Estimated Tax Payments

Taxpayers are generally required to pay in through withholding or estimated tax payments the lesser of 100% (or 110% if AGI is greater than $150,000) or prior-year tax liability or 90% of current-year tax liability.
 

Capital Gains Rates

Short-Term Capital Gains  
Held 12 months or lessUp to the marginal ordinary %
Long-Term Capital Gains  
Ordinary Rate 10%0%
Ordinary Rate 15%0%
Income $425,800 or less for single, $479,000 or less for joint15%
Income $425,801 or more for single, $479,001 or more for joint20%
Depreciation recapture25%