| | Taxable Income (Single) | |
| to $10,275 | 10% | |
| to $41,775 | 12% | |
| to $89,075 | 22% | |
| to $170,050 | 24% | |
| to $215,950 | 32% | |
| to $539,900 | 35% | |
| over | 37% | |
| Taxable Income (Married Filing Jointly) | ||
| to $20,550 | 10% | |
| to $83,550 | 12% | |
| to $178,150 | 22% | |
| to $340,100 | 24% | |
| to $431,900 | 32% | |
| to $647,850 | 35% | |
| over | 37% | |
| Long term Capital Gain & Qualified dividends: | ||
| Individual (Single) | ||
| to $41,675 | 0% | |
| to $459,750 | 15% | |
| over | 20% | |
| Individual (Married Filing Jointly) | ||
| to $83,350 | 0% | |
| to $517,200 | 15% | |
| over | 20% | |
| Net Investment Income Tax | ||
| after $200,000 net investment income (Single) | 3.8% | |
| after $250,000 taxable net investment (Married Filing Jointly) | 3.8% | |
| Corporation Tax | 21% | |
| Self-Employment tax | 15.3% | |
| Payroll taxes | ||
| Social security | 6.2% of first $147,800 of wages | |
| Medicare | 1.45% | |
| Medicare surtax (income >$200,000) | 0.9% | |
| Federal Unemployment (FUTA) | 0.6% of first $7000 | |
| Estate & Trust | ||
| to $2,750 | 10% | |
| to $9,850 | 24% | |
| to $13,450 | 35% | |
| over | 37% | |
| Annual gift tax exclusion | $16,000 | |
| Federal Estate Exemption | $12,060,000 | |
| Standard Deduction | ||
| Single | $12,950 | |
| Married Filing Jointly | $25,900 | |
| Education Credit | ||
| Lifetime learning credit | max | |
| up to $80,000 taxable income (Single) | $2,000 | |
| up to $160,000 taxable income (Married Filing Jointly) | $2,000 | |
| American Opportunity credit | max | |
| up to $80,000 taxable income (Single) | $2,000 | |
| up to $160,000 taxable income (Married Filing Jointly) | $2,000 | |
| Child credit | ||
| Up to $200,000 taxable income (Single) | $2,000 | |
| Up to $400,000 taxable income (Married filing jointly) | $2,000 | |
| Child and dependent care credit | $3,000 | |
Business mileage rate deduction | 58.5c /business mile | |
Home Office Deduction (up to 300 square feet) | $5/business square foot | |
| Retirement | ||
| 401K contribution (under age 50) | $20,500 | |
| 401K contribution (age 50 and above) | $27,000 | |
| SEP contribution | $61,000 | |
| IRA & Roth IRA contribution (<50) | $6,000 | |
| IRA & Roth IRA contribution (50+) | $7,000 | |
Tax free social security benefits | ||
| Single | $25,000 | |
| Married Filing jointly | $32,000 | |
| Foreign Earned Income Exclusion | $112,000 |