Tax Tables

  • 2015 IRA Contribution Levels
    Year Under age 50 Age 50+
    2015 $5,500 $6,500
  • 2015 ROTH IRA Eligibility
    Year If your tax status is… … you can contribute to a Roth IRA if your modified adjusted gross income is less than…
    2015 Married, filing jointly $193,000
    2015 Single $131,000
  • 2015 401(K), 403(B), 457 Contribution Levels
    Year Catch-up Under Age 50 Catch-up Age 50+
    2015 $18,000M $6,000
  • 2015 SEP IRA Contribution Levels

    Here’s what you can contribute to a SEP IRA:

    Year Status Maximum Contribution
    2015 W-2 Income Up to 25% of compensation, but no more than $53,000.
    2015 Self Employed Generally up to 20%, but no more than $53,000.
  • 2015 Traditional IRA Deductions

    If you are covered by a retirement plan at work, use this IRS table to determine if you can deduct your 2015 Traditional IRA contribution:

    If Your Filing Status Is… And Your Modified AGI Is… Then You Can Take…
    Single, head of household $61,000 or less a full deduction up to the amount of your contribution limit.
    more than $61,000 but less than $71,000 a partial deduction.
    $71,000 or more no deduction.
    Married filing jointly or qualifying widow(er) $98,000 or less a full deduction up to the amount of your contribution limit.
    more than $98,000 but less than $118,000 a partial deduction.
    $118,000 or more no deduction.
    Married filing separately less than $10,000 a partial deduction.
    $10,000 or more no deduction.
    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the “Single” filing status.
  • 2015 ROTH IRA Conversion Eligibility
    Year Eligibility
    2015 Anyone Can
  • 2015 Federal Tax Brackets
    Marginal Tax Rate Single Married Filing Jointly or Qualifying Widow(er) Married Filing Separately
    39.6% $413,201 and more $464,851 and more $232,426 and more
    35% $411,501 – $413,200 $411,501 – $464,850 $205,751 – $232,425
    33% $189,301 – $411,500 $230,451 – $411,500 $115,226 – $205,750
    28% $90,751 – $189,300 $151,201 – $230,450 $75,601 – $115,225
    25% $37,451 – $90,750 $74,901 – $151,200 $37,451 – $75,600
    15% $9,226 – $37,450 $18,451 – $74,900 $9,226 – $37,450
    10% $0 – $9,225 $0 – $18,450 $0 – $9,225
  • 2015 Federal Estate Tax Levels

    At death, a surviving spouse’s estate will owe estate taxes on the net value that exceeds the annual exemption:

    Year Exempt from Tax Estate-Tax Rate
    2015 $5,430,000 for person with portability Top rate of 40%
  • 2015 Generation Skipping Transfer (GST)Tax

    Tax on assets transferred to non-spouse heirs at death:

    Year Exempt from Tax Estate-Tax Rate
    2015 $5,430,000 per person (no portability) 40%
  • 2015 Annual Gift Tax Exclusion

    You may give the following amount to

    Year Annual Exclusion
    2015 $14,000

    an individual, free of gift tax:

  • 2015 IRA Minimum Distribution Tables

    When owners of a Traditional IRA reach age 70½, they are required to take annual minimum distributions. The amount changes each year. Simply divide your IRA’s value at the end of each year by the distribution period listed next to your age in the following IRS charts:

  • 2015 Uniform Lifetime Table

    This table is the life expectancy table to be used by all IRA owners to calculate lifetime distributions unless your beneficiary is your spouse who is more than 10 years younger than you. In that case, you would not use this table, you would use the actual joint life expectancy of you and your spouse based on the regular Joint Life Expectancy Table. The Uniform Lifetime Table is never used by IRA beneficiaries to compute required distributions on their inherited IRAs.

    View this table

  • 2015 Joint Life Expectancy Table

    This table is used only for lifetime distributions and only when the spousal exception applies (when the spouse is the sole beneficiary for the entire year and is more than 10 years younger than the IRA owner). Beneficiaries never use this table.

    View this table

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