| 2016 Tax Rates | 2015 Tax Rates | 2014 Tax Rates |
|---|
2016 Tax Rates Schedule X – Single
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $9,225 | 10% of the taxable amount |
| $9,275 | $37,650 | $927.50 plus 15% of the excess over $9,275 |
| $37,650 | $91,150 | $5,183.75 plus 25% of the excess over $37,650 |
| $91,150 | $190,150 | $18,558.75 plus 28% of the excess over $91,150 |
| $190,150 | $413,350 | $46,278.75 plus 33% of the excess over $190,150 |
| $413,350 | $415,050 | $119,934.75 plus 35% of the excess over $413,350 |
| Over $415,050 | no limit | $120,529.75 plus 39.6% of the excess over $415,050 |
2016 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $18,550 | 10% of the taxable amount |
| $18,550 | $75,300 | $1,855 plus 15% of the excess over $18,550 |
| $75,300 | $151,900 | $10,367.50 plus 25% of the excess over $75,300 |
| $151,900 | $231,450 | $29,517.50 plus 28% of the excess over $151,900 |
| $231,450 | $413,350 | $51,791.50 plus 33% of the excess over $231,450 |
| $413,350 | $466,950 | $111,818.50 plus 35% of the excess over $413,350 |
| $466,850 | no limit | $130,578.50 plus 39.6% of the excess over $466,950 |
2016 Tax Rates Schedule Y-2 – Married Filing Separately
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $9,275 | 10% of the taxable amount |
| $9,275 | $37,650 | $927.50 plus 15% of the excess over $9,275 |
| $37,650 | $75,950 | $5,183.75 plus 25% of the excess over $37,650 |
| $75,950 | $115,725 | $14,758.75 plus 28% of the excess over $75,950 |
| $115,725 | $206,675 | $25,895.75 plus 33% of the excess over $115,725 |
| $206,675 | $233,475 | $55,909.25 plus 35% of the excess over $206,675 |
| Over $233,475 | no limit | $65,289.25 plus 39.6% of the excess over $233,475 |
2016 Tax Rates Schedule Z – Head of Household
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $13,250 | 10% of the taxable amount |
| $13,250 | $50,400 | $1,315 plus 15% of the excess over $13,250 |
| $50,400 | $130,150 | $6,872.50 plus 25% of the excess over $50,400 |
| $130,150 | $210,80 | $26,722.50 plus 28% of the excess over $130,150 |
| $210,800 | $413,350 | $49,192.50 plus 33% of the excess over $210,800 |
| $413,350 | $441,000 | $115,737 plus 35% of the excess over $413,350 |
| $441,000 | no limit | $125,362 plus 39.6% of the excess over $441,000 |
2016 Tax Rates Estates & Trusts
| If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $2,550 | 15% of the taxable income |
| $2,550 | $5,950 | $375 plus 25% of the excess over $2,550 |
| $5,950 | $9,050 | $1,225 plus 28% of the excess over $5,950 |
| $9,050 | $12,400 | $2,100.50 plus 33% of the excess over $9,050 |
| $12,400 | no limit | $3,206 plus 39.6% of the excess over $12,400 |
Social Security 2016 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% |
Additional Medicare 2016 Tax Rates
| Additional Medicare Tax | 0.9% |
| Filing status | Compensation over |
| Married filing jointly | $250,000 |
| Married filing separate | $125,000 |
| Single | $200,000 |
| Head of household (with qualifying person) | $200,000 |
| Qualifying widow(er) with dependent child | $200,000 |
Education 2016 Credit and Deduction Limits
| American Opportunity Tax Credit | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
