Tax Rates | Foothills Accountants

Income Tax Rates - 2025

Single Taxpayers. Standard Deduction $15,000

10% - 0 to $11,925
12% - $11,925 to $48,475
22% - $48,475 to $103,350
24% - $103,350 to $197,300
32% - $197,300 to $250,525
35% - $250,525 to $626,350
37% - Over $626,350

Married Filing Jointly & Surviving Spouses. Standard Deduction $30,000

10% - 0 to $23,850
12% - $23,850 to $96,950
22% - $96,950 to $206,700
24% - $206,700 to $394,600
32% - $394,600 to $501,050
35% - $501,050 to $751,600
37% - Over $751,600

Married Filing Separately. Standard Deduction $15,000

10% - 0 to $11,925
12% - $11,925 to $48,475
22% - $48,475 to $103,350
24% - $103,350 to $197,300
32% - $197,300 to $250,525
35% - $250,525 to $375,800
37% - Over $375,800

Head of Household. Standard Deduction $22,500

10% - 0 to $17,000
12% - $17,000 to $64,850
22% - $64,850 to $103,350
24% - $103,350 to $197,300
32% - $197,300 to $250,500
35% - $250,500 to $626,350
37% - Over $626,350

Estates & Trusts

10% - 0 to $3,150
24% - $3,150 to $11,450
35% - $11,450 to $15,650
37% - Over $15,650

Social Security 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 earnings subject to Social Security tax

$176,100

Maximum earnings subject to Medicare tax

Unlimited

Medicare Tax Rate: Employers

1.45%

Medicare Tax Rate: Employees

1.45%

Medicare tax rate: Self-employed

2.9%

Additional Medicare tax on FICA wages and self-employment income above $200k-single or $250k-joint

0.9%

NIIT on taxpayers with modified adjusted gross income (MAGI) exceeding $200k-single or $250k-joint

3.8%

Miscellaneous Tax Limits

Business Section 179 expensing limit

$1,250,000

Business Section 179 phaseout threshold

$3,130,000

First-year bonus depreciation rate

40%

Income threshold after which the Section 199A pass-through phaseout

$197,300 (single and head of household); $394,600 (married filing jointly)

Qualified small-employer Health Reimbursement Arrangement limit

$6,350 (single coverage); $12,800 (family coverage)

Prior-year safe harbor for estimated taxes of higher-income taxpayers

110% of 2024 tax liability

Standard mileage rate for business driving

70 cents

Standard mileage rate for medical driving

21 cents

Standard mileage rate for moving driving (active duty Armed Forces Members)

21 cents (due to permanent change of station)

Standard mileage rate for charitable driving

14 cents

Miscellaneous Tax Limits (Continued)

Child Tax Credit (per child under age 17 at the end of the tax year)

$2,000

Unearned income maximum for children under 19 before kiddie tax applies

$1,350

0% Capital Gains Tax Rate

Maximum capital gains tax rate for taxpayers with income up to $48,350 for single filers, $96,700 for married filing jointly

15% Capital Gains Tax Rate

Maximum capital gains tax rate for taxpayers with income $48,350 to $533,400 for single filers, $96,700 to $600,050 for married filing jointly

20% Capital Gains Tax Rate

Maximum capital gains tax rate for taxpayers with income above $533,400 for single filers, $600,050 for married filing jointly

25% Capital Gains Tax Rate

Capital gains tax rate for unrecaptured Sec. 1250 gains

28% Capital Gains Tax Rate

Capital gains tax rate on collectibles

Maximum contribution for Traditional/Roth IRA

$7,000 if under age 50 / $8,000 if 50 or older

Maximum employee contribution to SIMPLE IRA

$16,500 if under age 50 / $20,000 if 50 or older + $1,750 if age 60, 61, 62 or 63

Maximum contribution to SEP IRA

25% of eligible compensation up to $70,000