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Serving Alaska 

From Wasilla 

to Fairbanks and beyond.

​907-357-7707

Federal Income Tax Calculator: 


2016 Tax Rates - Single Taxpayers - Standard Deduction $6,300

2015 Rates

10% - 0 to $9,275
15% - $9,275 to $37,650
25% - $37,650 to $91,150
28% - $91,150 to $190,150
33% - $190,150 to $413,350
35% - $413,350 to $415,050
39.6% - Over $415,050

2016 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $12,600

10% - 0 to $18,550
15% - $18,550 to $75,300
25% - $75,300 to $151,900
28% - $151,900 to $231,450
33% - $231,450 to $413,350
35% - $413,350 to $466,950
39.6% - Over $466,950

2016 Tax Rates - Married Filing Separately - Standard Deduction $6,300

10% - 0 to $9,275
15% - $9,275 to $37,650
25% - $37,650 to $75,950
28% - $75,950 to $115,725
33% - $115,725 to $206,675
35% - $206,675 to $233,475
39.6% - Over $233,475

2016 Tax Rates - Head of Household - Standard Deduction $9,300

10% - 0 to $13,250
15% - $13,250 to $50,400
25% - $50,400 to $130,150
28% - $130,150 to $210,800
33% - $210,800 to $413,350
35% - $413,350 to $441,000
39.6% - Over $441,000

2016 Tax Rates - Estates & Trusts

15% - 0 to $2,550
25% - $2,550 to $5,950
28% - $5,950 to $9,050
33% - $9,050 to $12,400
39.6% - Over $12,400 

Social Security

2016 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 Taxable Earnings - $118,500
Medicare Base Salary - Unlimited
Medicare Tax Rate - 1.45%
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) - 0.9%
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) - 3.8% 

Miscellaneous

2016 Tax Rates
Personal Exemption - $4,050
Business expensing limit: Cap on equipment purchases - $2,000,000
Business expensing limit: New and Used Equipment and Software - $500,000

Prior-year safe harbor for estimated taxes of higher-income - 110% of your 2016 tax liability

Standard mileage rate for business driving - 54 cents
Standard mileage rate for medical/moving driving - 19 cents
Standard mileage rate for charitable driving - 14 cents

Child Tax Credit  - $1,000

Unearned income maximum for children under 19 before kiddie tax applies - $1,050
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket - 0%
Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket - 15%
Maximum capital gains tax rate for taxpayers in the 39.6% bracket - 20%
Capital gains tax rate for unrecaptured Sec. 1250 gains - 25%
Capital gains tax rate on collectibles - 28%

Maximum contribution for Traditional/Roth IRA -
$5,500 if under age 50
$6,500 if 50 or older

Maximum employee contribution to SIMPLE IRA -
$12,500 if under age 50
$15,500 if 50 or older

Maximum Contribution to SEP IRA
25% of eligible compensation
up to $53,000

401(k) maximum employee contribution limit
$18,000 if under age 50
$24,000 if 50 or older

Estate tax exemption - $5,450,000

Annual Exclusion for Gifts - $14,000 


Education

2016 Tax Rates

American Opportunity Credit (Hope) - $2,500
Lifetime Learning Credit - $2,000
Student Loan Interest Deduction - $2,500
Coverdell Education Savings Contribution - $2,000