United States rates and paperwork
Tax year 2025, filed in 2026.
Federal figures as published by the IRS for 2025. Every state with an income tax now uses its own 2025 bands or flat rate and standard deduction. City and county taxes are not included.
Rates, allowances and thresholds
Federal income tax, single filer
- 10%
- up to $11,925
- 12%
- to $48,475
- 22%
- to $103,350
- 24%
- to $197,300
- 32%
- to $250,525
- 35%
- to $626,350
- 37%
- above $626,350
Federal income tax, married filing jointly
- 10%
- up to $23,850
- 12%
- to $96,950
- 22%
- to $206,700
- 24%
- to $394,600
- 32%
- to $501,050
- 35%
- to $751,600
- 37%
- above $751,600
Standard deduction and payroll tax
- Standard deduction, single
- $15,000
- Standard deduction, joint
- $30,000
- Social Security
- 6.2% on wages up to $176,100
- Medicare
- 1.45%, plus 0.9% above $200,000 single or $250,000 joint
- Self-employment tax
- 15.3% on 92.35% of net profit, half deductible
Retirement and health accounts
- 401(k) employee limit
- $23,500
- IRA limit
- $7,000
- HSA limit
- $4,300 self only, $8,550 family
- Solo 401(k) and SEP IRA
- Up to $70,000 including employer contributions
Plus $7,500 catch-up from age 50
Plus $1,000 catch-up from age 50
Investments, gifts and estates
- Long term capital gains 0% band
- up to $48,350 single, $96,700 joint
- Long term capital gains 15% band
- to $533,400 single, $600,050 joint
- Long term capital gains 20%
- above those figures
- Short term gains
- Taxed as ordinary income, so hold over a year where you can
- Net Investment Income Tax
- 3.8% above $200,000 single or $250,000 joint
- Annual gift exclusion
- $19,000 per recipient
- Estate and gift exclusion
- $13,990,000 per person
Business
- Qualified Business Income deduction
- Up to 20% of pass-through profit
- C corporation rate
- 21% federal
- Section 179 expensing
- $1,250,000 limit
- Residential rental depreciation
- Over 27.5 years
What you can deduct or claim
Pre-tax retirement contributions
401(k), traditional IRA, Solo 401(k) or SEP cut taxable income dollar for dollar.
Employees and the self-employed
HSA contributions
Deductible going in, tax free growth, tax free out for medical costs.
Anyone on a high deductible health plan
Itemised deductions
Mortgage interest, state and local taxes up to the cap, charitable gifts, large medical bills. Only worth it above the standard deduction.
Homeowners and big givers
Business expenses on Schedule C
Home office, mileage at the standard rate, equipment, software, health insurance premiums.
Self-employed
Qualified Business Income
A 20% deduction on pass-through profit, subject to income limits.
Sole proprietors, partnerships, S corps
Rental depreciation and costs
Depreciation, repairs, management fees, travel, interest.
Landlords
Loss harvesting
Realised losses offset gains, then $3,000 of ordinary income, and carry forward.
Investors
Then there is your state
Everything above is federal and the same wherever you live. State tax is not. Each state sets its own rate, its own return and sometimes its own deadline, and some charge nothing at all on wages. We cover all 50 states plus Washington DC.
See my stateForms to file with the IRS
| Form | What it does | When | Who needs it | Official page |
|---|---|---|---|---|
| Form 1040 | The individual return | By 15 April 2026, or 15 October with an extension | Everyone filing | IRS.gov |
| Schedule C | Self-employed profit and loss | With Form 1040 | Sole proprietors | IRS.gov |
| Schedule SE | Self-employment tax | With Form 1040 | Anyone with net profit over $400 | IRS.gov |
| Schedule A | Itemised deductions | With Form 1040 | Those itemising | IRS.gov |
| Schedule D and Form 8949 | Capital gains and losses | With Form 1040 | Investors and crypto sellers | IRS.gov |
| Schedule E | Rental and pass-through income | With Form 1040 | Landlords and partners | IRS.gov |
| Form 8995 | Qualified Business Income deduction | With Form 1040 | Pass-through owners | IRS.gov |
| Form 8889 | HSA contributions and distributions | With Form 1040 | HSA holders | IRS.gov |
| Form W-4 | Tell your employer how much to withhold | Any time, ideally after a pay change | Employees | IRS.gov |
| Form 1040-ES | Quarterly estimated tax | 15 April, 15 June, 15 September, 15 January | Self-employed and investors | IRS.gov |
| Form 709 | Gift tax return | With your return for the year of the gift | Anyone gifting over the annual exclusion | IRS.gov |
Where each figure comes from
Every number above is stored with the official page it came from and the date we last checked it. Last checked 9/12/2026. See what has changed.
| Figure | Now | Tax year | Checked | Official source |
|---|---|---|---|---|
| 20% long term gains above | $533,400 single, $600,050 joint | 2025 | 9/10/2026 | IRS: Topic 409, capital gains |
| 0% long term gains up to | $48,350 single, $96,700 joint | 2025 | 9/10/2026 | IRS: Topic 409, capital gains |
| HSA limit, family | $8,550 | 2025 | 9/10/2026 | IRS: Publication 969 |
| HSA limit, self only | $4,300 | 2025 | 9/10/2026 | IRS: Publication 969 |
| Standard deduction, single | $15,000 | 2025 | 9/10/2026 | IRS: 2025 inflation adjustments |
| Standard deduction, married filing jointly | $30,000 | 2025 | 9/10/2026 | IRS: 2025 inflation adjustments |
| Lowest federal bracket | 10% up to $11,925 single, $23,850 joint | 2025 | 9/12/2026 | IRS: Federal income tax rates and brackets |
| Top federal bracket | 37% above $626,350 single, $751,600 joint | 2025 | 9/12/2026 | IRS: Federal income tax rates and brackets |
| Annual gift tax exclusion | $19,000 per person per year | 2025 | 9/10/2026 | IRS: Gift tax FAQ |
| Federal estate tax exclusion | $13,990,000 per person | 2025 | 9/12/2026 | IRS: Estate tax |
| Social Security wage base | $176,100 | 2025 | 9/10/2026 | SSA: Contribution and benefit base |
| FBAR reporting threshold | $10,000 at any point in the year | 2025 | 9/12/2026 | FinCEN: Report foreign bank accounts |
| Form 5471 penalty | $10,000 per form per year | 2025 | 9/12/2026 | IRS: About Form 5471 |
| Form 8938 penalty | $10,000, rising to $50,000 | 2025 | 9/12/2026 | IRS: FATCA reporting summary |
| Foreign trust reporting penalty | 35% of the amount moved | 2025 | 9/12/2026 | IRS: Foreign trust reporting |
| 401(k) employee contribution limit | $23,500 | 2025 | 9/10/2026 | IRS: 401(k) contribution limits |
| IRA contribution limit | $7,000 | 2025 | 9/10/2026 | IRS: IRA contribution limits |
Not covered here
- City and county income taxes, including New York City
- Alternative Minimum Tax and state specific credits
- State estate and inheritance taxes, which differ sharply by state
Tax year: 2025. Your year ends 31 December.
That is the date most of these steps have to be done by.
Three countries now, more as we grow
Today Taxmiser covers the United Kingdom, the United States and Australia in full, with real rates and real forms. We add a new country only once its figures are checked against the official tax office, so nothing here is a guess. Canada, Ireland, New Zealand and more are next in line as we grow.
Every US state taxes you differently
In the United States there are two bills, not one. Federal tax is the same wherever you live. State tax is not. Some states take nothing, some take a flat slice, some have their own bands and their own allowances. That is why we ask which state you are in, and why two people on the same pay can keep very different amounts.
See the state by state figures