Tax rates can change from year to year, and staying informed is essential for accurate planning and compliance. At Zahabi Tax & Wealth, we simplify the latest IRS tax brackets so you can make informed decisions for both personal and business finances.
Use this page as a quick reference, and reach out to our team for personalized tax planning based on your income, deductions, and long-term financial goals.
Federal income tax
Single (other than surviving spouse and head of household)
| Over | But under | Taxable income |
|---|---|---|
| $0 | $11,925 | 10% of the taxable income |
| $11,925 | $48,475 | $1,192.50 plus 12% of the excess over $11,925 |
| $48,475 | $103,350 | $5,578.50 plus 22% of the excess over $48,475 |
| $103,350 | $197,300 | $17,651 plus 24% of the excess over $103,350 |
| $197,300 | $250,525 | $40,199 plus 32% of the excess over $197,300 |
| $250,525 | $626,350 | $57,231 plus 35% of the excess over $250,525 |
| $626,350 | $188,769.75 plus 37% of the excess over $626,350 |
Married filing jointly/surviving spouse
| Over | But under | Taxable income |
|---|---|---|
| $0 | $23,850 | 10% of the taxable income |
| $23,850 | $96,950 | $2,385 plus 12% of the excess over $23,850 |
| $96,950 | $206,700 | $11,157 plus 22% of the excess over $96,950 |
| $206,700 | $394,600 | $35,302 plus 24% of the excess over $206,700 |
| $394,600 | $501,050 | $80,398 plus 32% of the excess over $394,600 |
| $501,050 | $751,600 | $114,462 plus 35% of the excess over $501,050 |
| $751,600 | $202,154.50 plus 37% of the excess over $751,600 |
Married filing separate
| Over | But under | Taxable income |
|---|---|---|
| $0 | $11,925 | 10% of the taxable income |
| $11,925 | $48,475 | $1,192.50 plus 12% of the excess over $11,925 |
| $48,475 | $103,350 | $5,578.50 plus 22% of the excess over $48,475 |
| $103,350 | $197,300 | $17,651 plus 24% of the excess over $103,350 |
| $197,300 | $250,525 | $40,199 plus 32% of the excess over $197,300 |
| $250,525 | $375,800 | $57,231 plus 35% of the excess over $250,525 |
| $375,800 | $101,077.25 plus 37% of the excess over $375,800 |
Head of household
| Over | But under | Taxable income |
|---|---|---|
| $0 | $17,000 | 10% of the taxable income |
| $17,000 | $64,850 | $1,700 plus 12% of the excess over $17,000 |
| $64,850 | $103,350 | $7,442 plus 22% of the excess over $64,850 |
| $103,350 | $197,300 | $15,912 plus 24% of the excess over $103,350 |
| $197,300 | $250,500 | $38,460 plus 32% of the excess over $197,300 |
| $250,500 | $626,350 | $55,484 plus 35% of the excess over $250,500 |
| $626,350 | $187,031.50 plus 37% of the excess over $626,350 |
Trusts and estates
| Over | But under | Taxable income |
|---|---|---|
| $0 | $3,150 | 10% of the taxable income |
| $3,150 | $11,450 | $315 plus 24% of the excess over $3,150 |
| $11,450 | $15,650 | $2,307 plus 35% of the excess over $11,450 |
| $15,650 | $3,777 plus 37% of the excess over $15,650 |
*The effective tax rate for an individual taxpayer is calculated by dividing the taxes paid by the taxpayer’s pretax income and is often lower than the marginal tax rate.
Capital gains tax rates vary depending on whether the gains are short term or long term. Dividend tax rates vary depending on whether the dividends are identified as ordinary or qualified. Ordinary dividends and short-term gains on investments owned for 1 year or less are taxed at the taxpayer’s ordinary income rates. Qualified dividends and long-term gains on investments owned for more than 1 year are taxed as follows:
| Married filing jointly | Married filing separate | Single | Head of household | Trusts and estates | |
|---|---|---|---|---|---|
| 0% | <$96,700 | <$48,350 | <$48,350 | <$64,750 | <$3,250 |
| 15% | <$600,050 | <$300,000 | <$533,400 | <$566,700 | <$15,900 |
| 20% | >$600,050 | >$300,000 | >$533,400 | >$566,700 | >$15,900 |
Gift tax/estate tax/generation-skipping transfer tax
| Gift and estate tax exclusion | $13,990,000 per person |
| Gift tax annual exclusion | $19,000 |
| Generation-skipping transfer tax exclusion | $13,990,000 per person |
| Maximum gift/estate/generation-skipping transfer tax rate | 40% |
| Step up in basis on death | Unlimited |
Retirement plan contributions
| Sections 401(k)/403(b)/457(b) elective deferral limit | $23,500 |
| Catch-up at age 50 to 59 and over 63/catch up at age 60 to 63 | $7,500/11,250 |
| Maximum compensation limit (to determine benefits/contributions) | $350,000 |
| Defined contribution (DC) plan limits | $70,000 |
| Defined benefit (DB) plan maximum benefit | $280,000 |
| Highly compensated employee (HCE) limit | $160,000 |
| Traditional IRA and Roth IRA contribution limit | $7,000 |
| Catch-up aged 50+ | $1,000 |
| SIMPLE IRA elective deferral limit/certain other plans | $16,500/17,600 |
| Catch-up at age 50 to 59 and over 63/certain other plans/catch up at age 60 to 63 | $3,500/3,850/5,250 |
| SEP IRA compensation/coverage | $350,000/$750 |
| SEP IRA contribution | Lesser of $70,000 or 25% of pay (20% less 1/2 payroll tax for self-employed persons) |
| Qualified Charitable Distribution |
| Maximum per taxpayer $108,000, from IRA only, minimum age 70½ |
Roth IRA contributions phase-out
| 2025 (MAGI) | 2024 (MAGI) | |
|---|---|---|
| Single, head of household | $150,000–$165,000 | $146,000–$161,000 |
| Married filing jointly | $236,000–$246,000 | $230,000–$240,000 |
| Married filing separate | $0–$10,000 | $0–$10,000 |
Traditional IRA deduction phase-out
| 2025 (MAGI) | 2024 (MAGI) | |
|---|---|---|
| Single, not active participant in a qualified plan | Unlimited | Unlimited |
| Single, active participant in a qualified plan |
<$79,000: full deduction between $79,000–89,000: partial deduction >$89,000: no deduction |
<$77,000: full deduction between $77,000–$87,000: partial deduction >$87,000: no deduction |
| Married filing jointly, neither spouse participates in a qualified plan | Unlimited | Unlimited |
| Married filing jointly, contribution for spouse who is covered by a qualified plan |
<$126,000: full deduction between $126,000–$146,000: partial deduction >$146,000: no deduction |
<$123,000: full deduction between $123,000–$143,000: partial deduction >$143,000: no deduction |
| Married filing jointly, contribution for spouse who is not covered by a qualified plan |
<$236,000: full deduction between $236,000–$246,000: partial deduction >$246,000: no deduction |
<$230,000: full deduction between $230,000–$240,000: partial deduction >$240,000: no deduction |
Standard deduction
| Filing status | Deduction amount |
|---|---|
| Married filing jointly/surviving spouse | $30,000 |
| Single taxpayer | $15,000 |
| Head of household | $22,500 |
| Married filing separate | $15,000 |
New uniform life expectancy table for years 2022 and beyond
| Age of plan participant | Life expectancy | Percentage |
| 70 | 29.1 | 3.44% |
| 71 | 28.2 | 3.55% |
| 72 | 27.4 | 3.65% |
| 73 | 26.5 | 3.77% |
| 74 | 25.5 | 3.92% |
| 75 | 24.6 | 4.07% |
| 76 | 23.7 | 4.22% |
| 77 | 22.9 | 4.37% |
| 78 | 22 | 4.55% |
| 79 | 21.1 | 4.74% |
| 80 | 20.2 | 4.95% |
| 81 | 19.4 | 5.15% |
| 82 | 18.5 | 5.41% |
| 83 | 17.7 | 5.65% |
| 84 | 16.8 | 5.95% |
| 85 | 16 | 6.25% |
| 86 | 15.2 | 6.58% |
| 87 | 14.4 | 6.94% |
| 88 | 13.7 | 7.30% |
| 89 | 12.9 | 7.75% |
| 90 | 12.2 | 8.20% |
| 91 | 11.5 | 8.70% |
| 92 | 10.8 | 9.26% |
| 93 | 10.1 | 9.90% |
| 94 | 9.5 | 10.53% |
| 95 | 8.9 | 11.24% |
| 96 | 8.4 | 11.90% |
| 97 | 7.8 | 12.82% |
| 98 | 7.3 | 13.70% |
| 99 | 6.8 | 14.71% |
| 100+ | 6.4 | 15.63% |
For most taxpayers, the RMD is calculated as the year-end fair market value divided by the applicable distribution factor obtained in the Uniform Table (IRS Publication 590 Appendix B). Beneficiaries of an IRA and married IRA owners whose spouse is more than 10 years younger use different tables. Consult IRS Publication 590 for the tables and factors.
| Birth year | Starting age |
|---|---|
| June 1949 or earlier | 70½ |
| July 1949–1950 | 72 |
| 1951–1959 | 73 |
| 1960 and later | 75 |
Social Security
| Tax (FICA) on wages up to $176,100 | |
|---|---|
| Employer pays | 6.2% |
| Employee pays | 6.2% |
| Self-employed pays | 12.4% |
| Benefits | |
|---|---|
| Full retirement age (FRA) if born between: |
1943–1954: 66 1955: 66 + 2 months 1956: 66 + 4 months 1957: 66 + 6 months 1958: 66 + 8 months 1959: 66 + 10 months 1960 or later: 67 |
| Maximum monthly benefit at FRA | $4,018 |
| Exempt retirement earnings |
$23,400 — pre-FRA $62,160 — year obtaining FRA Unlimited post-FRA |
| Tax on Social Security benefits | ||
|---|---|---|
| Filing status | Provisional income | Social Security subject to tax |
| Married filing jointly |
Under $32,000 $32,000–$44,000 Over $44,000 |
0% 50%–85% 85% |
| Single/head of household |
Under $25,000 $25,000–$34,000 Over $34,000 |
0% 50%–85% 85% |
| Married filing separate | Lived apart from their spouse for the entire year | See single/head of household |
| Did not live apart from their spouse for the entire year | Up to 85% | |
Provisional income = Adjusted gross income (AGI) + ½ Social Security payments + tax-free interest received + certain other adjustments.
Medicare
| Medical tax on all wage income | |
|---|---|
| Employer pays | 1.45% |
| Employee pays | 1.45% |
| Self-employed pays | 2.9% |
| Additional Medicare tax Single filers — $200,000+ Married filers — $250,000+ | 0.9% |
| Medicare investment income 3.8% surtax thresholds | |
| Single/head of household | $200,000 |
| Married filing jointly/surviving spouse | $250,000 |
| Married filing separate | $125,000 |
| Trusts and estates | $15,600 |
| Premiums (based on 2023 income) | |||
| MAGI single | MAGI married filing jointly | MAGI married filing separate | Part B premiums |
|---|---|---|---|
| $106,000 or less | $212,000 or less | $106,000 or less | $185.00 |
| $106,001–$133,000 | $212,001–$266,000 | Not applicable | $259.00 |
| $133,001–$167,000 | $266,001–$334,000 | Not applicable | $370.00 |
| $167,001–$200,000 | $334,001–$400,000 | Not applicable | $480.90 |
| $200,001–$499,999 | $400,001–$749,999 | $106,001–$393,999 | $591.90 |
| $500,000 and above | $750,000 and above | $394,000 and above | $628.90 |
*Most people who receive Social Security benefits will pay the standard Part B Premium of $185.00 per month. For those whose 2023 Modified Adjusted Gross Income was above $106,000 for single filers and $212,000 for married filers, an Income Related Monthly Adjustment Amount (IRMAA) surcharge is added to the premium.
Medicare (cont.)
| Deductibles and coinsurance | |
|---|---|
| Part A (first 60 days) | $1,676 deductible per benefit period/$0 coinsurance |
| Part A (61–90 days) | $419/day coinsurance |
| Part A (lifetime reserve days) | $838/day coinsurance |
| Part A (after lifetime reserve days) | All costs paid by insured |
| Part B | $257 deductible |
| Part D | $590 maximum deductible |
