|
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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