Tax Info - 2025
Marginal Ordinary Income Tax Rates
Single
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 11,925 |
| 12% | 11,925 | 48,475 |
| 22% | 48,475 | 103,350 |
| 24% | 103,350 | 197,300 |
| 32% | 197,300 | 250,525 |
| 35% | 250,525 | 626,350 |
| 37% | 626,350 |
Head of Household
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 17,000 |
| 12% | 17,000 | 64,850 |
| 22% | 64,850 | 103,350 |
| 24% | 103,350 | 197,300 |
| 32% | 197,300 | 250,500 |
| 35% | 250,500 | 626,350 |
| 37% | 626,350 |
Married Filing Jointly & Surviving Spouse
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 23,850 |
| 12% | 23,850 | 96,950 |
| 22% | 96,950 | 206,700 |
| 24% | 206,700 | 394,600 |
| 32% | 394,600 | 501,050 |
| 35% | 501,050 | 751,600 |
| 37% | 751,600 |
Married Filing Separately
| Rate | Over | To |
|---|---|---|
| 10% | 0 | 11,925 |
| 12% | 11,925 | 48,475 |
| 22% | 48,475 | 103,350 |
| 24% | 103,350 | 197,300 |
| 32% | 197,300 | 250,525 |
| 35% | 250,525 | 375,800 |
| 37% | 375,800 |
Standard Deduction
Filing Status
Amount
Single
$15,000
Head of Household
$22,500
Married Filing Joint/Surviving Spouse
$30,000
Married Filing Separate
$15,000
Additional Standard Deduction if Blind or Age 65+
Amount
Single
$2,000
Head of Household
$2,000
Married Filing Joint/Surviving Spouse
$1,600
Married Filing Separate
$1,600
Standard Deduction For Dependents
Amount
Regular Amount
$1,300
Maximum amount earned plus $450 up to allowed standard deduction based upon filing status
Personal Exemptions
For 2019-2025, the personal exemption has been suspended; personal exemption is $0. For the definition of "Qualified Relative", the individual may not have gross income in excess of the personal exemption amount which is deemed to be $5,200 for 2025.
Phaseout of Personal Exemptions
Filing Status
Phaseout Begins
Phaseout Ends
Married Filing Joint
N/A
N/A
Surviving Spouse
N/A
N/A
Head of Household
N/A
N/A
Single
N/A
N/A
Married Filing Separately
N/A
N/A
Child & Other Dependent Tax Credits
The child tax credit is $2,000 per dependent child under 17. The refundable portion is $1,700. The credit is begins to phase-out where modified adjusted gross income exceeds $200,000 ($400,000 in case of a joint return). The child must be a US citizen or resident alien; a SSN holder; and the taxpayer's son, daughter, stepchild or a dependent of any of them or the taxpayer's sibling, stepbrother/sister or descendent of any of them.
The other dependent tax credit is $500 per qualifying dependent of which none is refundable. The dependent must be a US Citizen, national or US resident alien; an SSN, ITIN or ATIN holder; and claimed as the taxpayer's Form 1040 or 1040-SR.
Capital Gains - Long Term and Short Term
Type of Asset
Short-Term Tax Rate
Long-Term Tax Rate
Net Investment Income Tax (NIIT)
Collectibles
Ordinary Tax Rates
28%
Potential 3.8%
Depreciation Recapture
Ordinary Tax Rates
25%
Potential 3.8%
Qualified Small Bus Stock
Ordinary Tax Rates
28% after exclusion
Potential 3.8%
Other Capital Assets
Ordinary Tax Rates
(See table below)
Potential 3.8%
LTCG Rate
0%
15%
20%
Single
$0-$48,350
$48,351-$533,400
$533,401+
MFJ
$0-$96,700
$96,701-$600,050
$600,051+
H of H
$0-$64,750
$64,751-$566,700
$566,701+
MFS
$0-$48,350
$48,351-$300,000
$300,001+
Education Credits
Comparison of Education Credits
Lifetime Learning Credit
American Opportunity
• Up to $2,000 per return
• Up to $2,500; up to 40% is refundable
• Maximum rate is 20%
• 100% of first $2,000 plus 25% of next $2,000 expenses
• Available for all years of post-secondary education and for courses to acquire or improve job skills
• Available for four years of college and ONLY if the student had not completed the first four years of post-secondary education before 2025
• Available for an unlimited number of years
• Available only for four tax years per eligible student (including any uears the Hope Credit was claimed)
• Student does not need to be pursuing a program leading to a degree or other recognized education credential
• Student must be pursuing a degree or other recognized education credential
• Available for one or more courses
• Student must be enrolled at least halftime for at least one academic period beginning during 2025 (or the first three months of 2026 if the qualified expenses were paid in 2025)
• Felony drug conviction rule does not apply
• As of the end of 2025, the student must not have been convicted of a felony for possession or distribution of a controlled substance
Phaseout of Education Credits
Filing Status
Lifetime Learning
American Opportunity
Married Filing Joint
$160,000-$180,000
$160,000-$180,000
All Other Statuses
$80,000-$90,000
$80,000-$90,000
IRA Contribution Limits
Regular Contributions
2025 Maximum Contribution
$7,000
Catch-Up Contribution for Taxpayers 50+
2025 Catch-up
$1,000
Phaseout of IRA Deductions
Filing Status
AGI Begin Phaseout
AGI End Phaseout
Single
$79,000
$89,000
Married Filing Jointly
$126,000
$146,000
Married Filing Jointly (spouse not covered by pension plan)
$236,000
$246,000
Married Filing Separately
$0
$10,000
Married Filing Separately (lived apart entire year)
$79,000
$89,000
Head of Household
$79,000
$89,000
Surviving Spouse
$126,000
$146,000
401(K) Contribution Limits
Contribution Type
Amount
401(K) Regular Deferral
$23,500
401(K) Catch-up Contribution (age 50+)
$7,500
401(K) Attain age 60-63 during year, add'l
$3,750
Standard Mileage Rates
Mileage Type
Allowance
Business
$0.70/mile
Charitable
$0.14/mile
Medical
$0.21/mile
Depreciation
$0.33/mile