|
|
| Single Individuals: |
| Taxable Income |
|
| Over |
But Not Under |
Tax |
| $0 |
$10.275 |
10% |
| $10,276 |
$41,775 |
12% |
| $41,776 |
$89,075 |
22% |
| $89,076 |
$170,050 |
24% |
| $170,051 |
$215,950 |
32% |
| $215,951 |
$539,900 |
35% |
| $539,901 |
And Over |
37% |
| Joint Returns and Surviving Spouses: |
| Taxable Income |
|
| Over |
But Not Under |
% on Excess |
| $0 |
$20,550 |
10% |
| $20,551 |
$83,550 |
12% |
| $83,551 |
$178,150 |
22% |
| $178,151 |
$340,100 |
24% |
| $340,101 |
$431,900 |
32% |
| $431,901 |
$647,850 |
35% |
| $647,851 |
And Over |
37% |
| Heads of Households: |
| Taxable Income |
|
| Over |
But Not Under |
% on Excess |
| $0 |
$14,650 |
10% |
| $14,651 |
$55,900 |
12% |
| $55,901 |
$89,050 |
22% |
| $89,051 |
$170,050 |
24% |
| $170,051 |
$215,950 |
32% |
| $215,951 |
$539,900 |
35% |
| $539,901 |
And Over |
37% |
| Married Filing Separately: |
| Taxable Income |
|
| Over |
But Not Under |
% on Excess |
| $0 |
$10.275 |
10% |
| $10,276 |
$41,775 |
12% |
| $41,776 |
$89,075 |
22% |
| $89,076 |
$170,050 |
24% |
| $170,051 |
$215,950 |
32% |
| $215,951 |
$323,925 |
35% |
| $323,926 |
And Over |
37% |
| Plan Type |
Under Age 50 |
Over Age 50 |
| 401(k), 403(b), most 457, Salary Reduction SEP |
$20,500 |
$27,000 |
| SIMPLE |
$14,000 |
$17,000 |
| IRA (Traditional/Roth) |
$6,000 |
$7,000 |
| Phase Outs |
Phase Out Range |
| Traditional IRA Deduction Phase Outs: |
Modified Adjustment Income |
| Married Filing Joint |
$109,000 |
$129,000 |
| Married Filing Joint - One Spouse is Covered at Work |
$204,000 |
$214,000 |
| Single Or Head of Household |
$68,000 |
$78,000 |
| Married or Filing Separately |
|
$10,000 |
| Roth IRA Contribution Phase Outs: |
Modified Adjustment Income |
| Married Filing Joint |
$204,000 |
$214,000 |
| Single |
$129,000 |
$144,000 |
| Employer-sponsored plans may have additional contribution limits. Not all employer plans allow the higher contributions amount for those aged 50 and older.The IRA limitation caps a person's combined contributions to traditional and Roth IRAs for the year. |
| Unmarried Individuals |
$75,900 |
| Married Filing Jointly |
$118,100 |
| Participant of Employer Retirement Plan: |
| Filing Status |
Modifed AGI |
Deduction |
| Single or Head of Household |
$68,000 or less |
Full up to limit |
|
$68,001 - $78,000 |
Partial |
|
$78,000 or more |
No deduction |
| Joint or Surviving Spouse |
$109,000 or less |
Full up to limit |
|
$109,001 - $129,000 |
Partial |
|
$129,000 or more |
No deduction |
| Married Filing Separately |
less than $10,000 |
Partial |
|
$10,000 or more |
No deduction |
| One Spouse Participates - One Does Not: |
| Filing Status |
Modified AGI |
Deduction |
| Married Filing Jointly |
$204,000 or less |
Full up to limit |
|
$204,001 - $214,000 |
Partial |
|
$214,000 or more |
No Deduction |
| Married Filing Separately |
less than $10,000 |
Partial |
|
$10,000 or more |
No deduction |
|
| Plan Type |
Under Age 50 |
Over Age 50 |
| IRA (Traditional & Roth) |
$6,000 |
$7,000 |
| Standard Deduction |
| Single |
$12,950 |
| Married Filing Jointly |
$25,900 |
| Head of Household |
$19,400 |
| Married Filing Separately |
$12,950 |
| Additional Amount for Aged or Blind |
| Single |
$1,750 |
| Married Filing Jointly |
$1,400 |
| Standard Deduction for Dependent |
| Minimum |
$1,150 |
| Or Earned income plus |
$400 |
| Single |
| Income |
Long-term Capital Gains Rate |
| $0 - $41,675 |
0% |
| $41,676 - $459,750 |
15% |
| $459,751 or more |
20% |
| Married filing jointly |
| Income |
Long-term Capital Gains Rate |
| $0 - $83,350 |
0% |
| $83,351 - $517,200 |
15% |
| $517,201 or more |
20% |
| Head of household |
| Income |
Long-term Capital Gains Rate |
| $0 - $55,800 |
0% |
| $55,801 - $488,500 |
15% |
| $488,501 or more |
20% |
| Married filing separately |
| Income |
Long-term Capital Gains Rate |
| $0 - $41,675 |
0% |
| $41,676 - $258,600 |
15% |
| $258,601 or more |
20% |
| Year |
Passenger Autos/
1st Yr Bonus
|
Light Trucks and Vans,
SUV's/1st Yr Bonus
|
| 1 |
$11,200/$19,200 |
$11,200/$19,200 |
| 2 |
$18,000 |
$18,000 |
| 3 |
$10,800 |
$10,800 |
| 4 and beyond |
$6,460 |
$6,460 |
**This limit includes claiming a §179 expense deduction. If the business use is less than 100%, you must reduce the maximum deduction above proportionately.
**Vehicles are eligible for 100% bonus depreciation if they are above 6,000 lbs. |
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