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Quick Reference 2025

PostedDecember 29, 2024

By Jason Watson, CPA
Posted Sunday, December 29, 2024

Single 2025
From To Rate Marginal Tax Total Tax
0 11,925 10% 1,193 1,193
11,926 48,475 12% 4,386 5,579
48,476 103,350 22% 12,073 17,651
103,351 197,300 24% 22,548 40,199
197,301* 250,525 32% 17,032 57,231
250,526 626,350 35% 131,539 188,770
626,351 forever 37%
Married Filing Jointly 2025
From To Rate Marginal Tax Total Tax
0 23,850 10% 2,385 2,385
23,851 96,950 12% 8,772 11,157
96,951 206,700 22% 24,145 35,302
206,701 394,600 24% 45,096 80,398
394,601* 501,050 32% 34,064 114,462
501,051 751,600 35% 87,693 202,155
751,601 forever 37%

* Start of Section 199A qualified business income phaseout for small business owners.

 

Standard Deduction Single 15,000
Standard Deduction Married Filing Joint 30,000
Social Security Wage Limit 176,100
IRA Contribution Limit 7,000 + 1,000 catch-up
Roth Income Phaseout Single 150,000
Roth Income Phaseout Married Filing Joint 246,000
401k Employee 23,500 + 7,500 catch-up
401k Employer 46,500
Max 401k Total 70,000 + 7,500 catch-up

Jason Watson, CPA, is a Partner and the CEO of WCG CPAs & Advisors, a boutique yet progressive tax, accounting and business consultation firm located in Colorado serving small business owners and taxpayers worldwide.

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Taxpayer’s Comprehensive Guide to LLCs and S Corps 2025 Edition

LLC's and S Corps bookThis KB article is an excerpt from our 420+ page book (some picture pages, but no scatch and sniff) which is available in paperback from Amazon, as an eBook for Kindle and as a PDF from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles online, click on the fancy buttons below or visit our webpage which provides more information.

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