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2025

 

Rate     Single Filers                  Married Joint Filers         Head of Household Filers     

 

10%     $0 to $11,925                   $0 to $23,850                     $0 to $17,000

12%     $11,926 to $48,475          $23,851 to $96,950            $17,001to $64,850

22%     $48,476 to $103,350        $96,951 to $206,700          $64,851 to $103,350

24%    $103,351 to $197,300       $206,701 to $394,600         $103,351 to $197,300

32%    $197,301 to $250,525      $394,601 to $501,050          $197,300 to $250,500

35%    $250,526 to $626,350      $501,051 to $751,600         $250,501 to $626,350

37%   $626,351 +                       $751,601 +                           $626,351

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2025 Standard Deduction Amounts

 

There are two main types of tax deductions: the standard deduction and itemized deductions. You can claim one type of deduction on your tax return, but not both. For example, if you claim the standard deduction, you cannot itemize deductions – and vice versa (if you itemize deductions, you cannot claim the standard deduction). You are allowed to use whichever type of deduction results in the lowest tax.

 

The standard deduction is subtracted from your Adjusted Gross Income (AGI), thereby reducing your taxable income. For tax year 2025 the standard deduction amounts are as follows:

                                                 2024                                       2025

Filing Status                   Standard Deduction              Standard Deduction

Single                                   $14,600                                $15,000

Married Filing Jointly         $29,200                               $30,000

Married Filing Separately  $14,600                               $15,000

Head of Household             $21,900                               $22,500

Qualifying Widow(er)         $29,200                               $30,000

 

2025 Capital Gains Rates

The federal tax rate on long-term capital gains typically is determined by the type of asset and your marginal ordinary income tax rate. Capital gains tax rates on most assets held for less than a year correspond to ordinary income tax brackets. For certain investment real estate, business, and collectible assets, gains could have different tax rates.

 

As a general rule, long-term capital gains rates apply to gains resulting from the sale of assets held for more than one year. Short-term capital gains on assets held for one year or less are taxed at ordinary federal income tax rates.

 

 

Rate     Single Filers                          Married Joint Filers            

 

0%     $0 to $48,350                           $0 to $96,700                  

15%     $48,351 to $533,400             $96,701 to $600,050       

20%     $533,401  +                          $600,051  +                      

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2025 Corporations and Business Rates

 

Likely to stay - straight 21% tax rate applied on C-corp income;

-  20% deduction of qualified business income of S-corps, partnerships and sole proprietorships, subject to limitations; this could go away after 2025 if not reinstated

 

2025 Retirement Contribution Rates

 

Maximum contribution amounts: ($1,000catch-up for those over age 50)(thresholds/eligibility/other rules apply/reduce max amounts)

- 401K, 403(b) etc    $23,500 (catch-up) + $7,500 (age 60-63 $11,250 catchup)

- Simple plans          $16,500 (catch-up) + $3,500

- SEP's                     $70,000

- IRA                        $7,000 (catch-up) + $1,000