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Current Rates and Limits

TY 2016 Social Security & Medicare Tax

Maximum Compensation subject to FICA
Social Security$118,500
Medicare TaxNo Limit
Medicare Additional Taxover $200,000

TY 2016 Income Tax Brackets

SingleMarried Filing JointlyMarried Filing SeparatelyHead of HouseholdMarginal Tax Rate
$0 to $9,275$0 to $18,550$0 – $9,275$0 to $13,25010.0%
$9,275 to $37,650$18,550 to $75,300$9,275 – $37,650$13,250 to $50,40015.0%
$37,650 to $91,150$75,300 to $151,900$37,651 - $75,950$50,400 to $130,15025.0%
$91,150 to $190,150$151,900 to $231,450$75,951 – $115,275$130,150 to $210,80028.0%
$190,150 to $413,350$231,450 to $413,350$115,276 - $206,675$210,800 to $413,35033.0%
$413,350 to $415,050$413,350 to $466,950$206,676 - $233,475$413,350 to $441,00035.0%
$415,050 or more$466,950 or more$233,475 or more$441,000 or more39.6%

TY 2016 Deductions & Exemptions

SingleMarried Filing JointlyMarried Filing SeparatelyHead of Household
Standard Deduction$6,300$12,600$6,300$9,300
Additional Deduction for 65 and Older or Blind$1,550$1,250$1,250$1,550
Personal Exemption$4,050$4,050$4,050$4,050

TY 2016 Mileage Rates

Purposecents per mile
Business54 ¢
Medical19 ¢
Charitable14 ¢
Moving19 ¢

Last updated 01/12/16

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