Tax Rates 2016

2020 Tax Rates 2019 Tax Rates 2018 Tax Rates 2017 Tax Rates 2016 Tax Rates

2016 tax rates schedule x - single

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	$91,150	$5,183.75 plus 25% of the excess over $37,650
$91,150	$190,150	$14,605.50 plus 28% of the excess over $91,150
$190,150	$413,350	$18,558.75 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
$466,950	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	$1,325 plus 15% of the excess over $13,250
$50,400	$130,150	$6,897.50 plus 25% of the excess over $50,400
$130,150	$210,800	$26,835 plus 28% of the excess over $130,150
$210,800	$413,350	$49,417 plus 33% of the excess over $210,800
$413,350	$441,000	$116,258.50 plus 35% of the excess over $413,350
$441,000	no limit	$125,936 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	$382.50 plus 25% of the excess over $2,550
$5,950	$9,050	$1,232.50 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 (Hope)	$2,500
Lifetime Learning Credit	$2,000
Student Loan Interest Deduction	$2,500
Coverdell Education Savings Contribution	$2,000

miscellaneous 2016 tax rates

Personal Exemption (Adjusted Gross Income below $155,650)	$4,050
Business Equipment Expense Deduction	$500,000
Prior-year safe harbor for estimated taxes of higher-income	110% of your 2015 tax liability
Standard mileage rate for business driving	54 cents
Standard mileage rate for medical/moving driving	19 cents
Standard mileage rate for charitable driving	14 cents
Child Tax Credit	$1,000 per qualifying child
Unearned income maximum for children before kiddie tax applies	$1,050
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket	0%
Maximum capital gains tax rate for taxpayers in the 25%, 28%, 33%, or 35% bracket	15%
Maximum capital gains tax rate for taxpayers in the 39.6% bracket	20%
Capital gains tax rate for unrecaptured Sec. 1250 gains	25%
Capital gains tax rate on collectibles and qualified small business stock	28%
Maximum contribution for Traditional/Roth IRA	$5,500 if under age 50 / $6,500 if 50 or older
Maximum employee contribution to SIMPLE IRA	$12,500 if under age 50 / $15,500 if 50 or older
Maximum Contribution to SEP IRA	25% of compensation up to $53,000
401(k) maximum employee contribution limit	$18,000 if under age 50 / $24,000 if 50 or older
Self-employed health insurance deduction	100%
Estate tax exemption	$5,450,000
Annual Exclusion for Gifts	$14,000
Foreign Earned Income Exclusion	$101,300

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