0%

$0+

$0+

$0+

$0+

15%

$49,451+

$66,201+

$98,901+

$49,451+

20%

$545,500+

$579,600+

$613,700+

$306,850+

Standard Deduction

Single and Married filing Separately

$16,100

Head of Household

$24,150

Married Filing Jointly

$32,200

Additional Deduction for Aged or Blind

$2,000

Additional Deduction for Married Aged or Blind

$1,600

Deduction if you can be claimed by another(or $450 plus earned income if greater)

$1,300

Transportation Fringe Benefit

Transit

$340/mo

Parking

$340/mo

Standard Mileage Rates

Business

72.5 cents per mile

Charity (not indexed)

14 cents per mile

Medical/moving

20.5 cents per mile

Kiddie Tax (Unearned Income)

First $1,350 not taxed

0%

Next $1,351 taxed at child’s rate

10%

Over $2,700

taxed at parent’s rate

Adoption Benefits

Adoption Credit

$17,670 per child

Employer Adoption Benefit Income Exclusion

www.irs.gov/

Expatriation

Average Income Threshold for Determining if Subject to Tax

$211,000+

Exclusion from Tax

$910,000

Foreign Earned Income Exclusion

Per Person

$126,500

Retirement Accounts

401(k)/403(b) Deferrals

$24,500

401(k)/403(b) Catch-up Deferral

$7,500

IRA Contribution

$7,500

IRA Catch-up Contributions

$1,100

Social Security Wage Cap (earned income)

Per Individual

$184,500

Threshold for Additional 0.9% Medicare Tax (earned income)

Single (not indexed)

$200,000

Threshold for 3.8% Medicare tax on Investment Income (AGI)

Single (not indexed)

$200,000

Joint (not indexed)

$250,000

Trusts and Estates

$16,000

Partnerships (Form 1065)

March 16

September 15

S corporations (Form 1120-S)

March 16

September 15

C corporations (Form 1120)

April 15

October 15

Trusts (Form 1041)

April 15

October 15

Individuals (Form 1040)

April 15

October 15

Maximum employee contribution/deferral

$24,500

Catch-up employee contribution/deferral (age 50 and older)

$8,000

Maximum combined employer and employee contributions to a defined contribution plan

$72,000

Maximum annual benefit in a defined benefit plan

$290,000

Limit on compensation under 401(a)(17) that can be considered in calculating contributions to qualified plans

$360,000

Limit on compensation under 401(a)(17) for grandfathered employees for governmental plans under OBRA ’93

$535,000

Threshold for designation as “highly compensated employee” for nondiscrimination testing

$160,000

Definition of key employee in a top-heavy plan

$235,000

Traditional and Roth IRA

$7,500

Traditional and Roth IRA catch-up contribution (age 50 and older)

$1,100

SIMPLE IRA

$17,000

SIMPLE IRA catch-up contribution (age 50 and older)

$4,000

SEP IRA (only employer may contribute)*

$72,000 (25% of compensation, max)

Minimum compensation required to participate in SEP

$800

Maximum compensation for calculating contributions

$360,000

21% Flat Tax Rate