Mark Rule & Company – Tax Tips
| 2015 Tax Rates – Single – Standard Deduction $6,300 | |
| 10% | 0 to $9,225 |
| 15% | $9,225 to $37,450 |
| 25% | $37,450 to $90,750 |
| 28% | $90,750 to $189,300 |
| 33% | $189,300 to $411,500 |
| 35% | $411,500 to $413,200 |
| 39.6% | Over $413,200 |
| 2015 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,600 | |
| 10% | 0 to $18,450 |
| 15% | $18,450 to $74,900 |
| 25% | $74,900 to $151,200 |
| 28% | $151,200 to $230,450 |
| 33% | $230,450 to $411,500 |
| 35% | $411,500 to $464,850 |
| 39.6% | Over $464,850 |
| 2015 Tax Rates – Married Filing Separately – Standard Deduction $6,300 | |
| 10% | 0 to $9,225 |
| 15% | $9,225 to $37,450 |
| 25% | $37,450 to $75,600 |
| 28% | $75,600 to $115,225 |
| 33% | $115,225 to $205,750 |
| 35% | $205,750 to $232,425 |
| 39.6% | Over $232,425 |
| 2015 Tax Rates – Head of Household – Standard Deduction $9,250 | |
| 10% | 0 to $13,150 |
| 15% | $13,150 to $50,200 |
| 25% | $50,200 to $129,600 |
| 28% | $129,600 to $209,850 |
| 33% | $209,850 to $411,500 |
| 35% | $411,500 to $439,000 |
| 39.6% | Over $439,000 |
| 2015 Tax Rates – Estates & Trusts | |
| 15% | 0 to $2,500 |
| 25% | $2,500 to $5,900 |
| 28% | $5,900 to $9,050 |
| 33% | $9,050 to $12,300 |
| 39.6% | Over $12,300 |
| Social Security | 2015 Tax Rates |
| Social Security Tax Rate: Employers | 6.2% |
| Social Security Tax Rate: Employees | 6.2% |
| Social Security Tax Rate: Self-Employed | 12.4% |
| Maximum Taxable Earnings | $118,500 |
| Medicare Base Salary | Unlimited |
| Medicare Tax Rate | 1.45% |
| Miscellaneous | 2015 Tax Rates |
| Personal Exemption | $4,000 |
| Business expensing deduction: New Equipment | $200,000 |
| Business expensing deduction: Used Equipment and Software | $25,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2014 tax liability |
| Standard mileage rate for business driving 1/1/2014 to 12/31/2014 | 56 cents |
| Standard mileage rate for business driving 1/1/2015 to 12/31/2015 | 57.5 cents |
| Standard mileage rate for medical/moving driving 1/1/2014 to 12/31/2014 | 23.5 cents |
| Standard mileage rate for medical/moving driving 1/1/2015 to 12/31/2015 | 23 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $1,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,000 |
| Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket | 0% |
| Maximum capital gains tax rate for taxpayers in the 25% to 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 | 28% |
| Capital gains tax rate on collectibles | 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 eligible 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 | $5,340,000 |
| Annual Exclusion for Gifts | $14,000 |
| Education | 2015 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |