Navigating tax regulations can be complex, but the 2025 Tax Reference Guide provides key information to help you stay informed.
This comprehensive resource includes details on tax brackets, retirement plan contribution and deferral limits, Required Minimum Distribution tables, Social Security tax rates and benefits, and more.
This year's edition features updates to tax brackets and retirement plan contribution limits, reflecting the latest regulatory changes. Whether you are managing your own finances or advising clients, this guide is designed to help you plan effectively.
Review the 2025 tax bracket information below to stay informed on key updates for the year ahead or download the printable guide for easy reference anytime.
The information provided is accurate as of January 2025 but is subject to change.
| Tax Bracket | Married, Joint |
|---|---|
| $0 - $23,850 | 10% |
| $23,851 - $96,950 | 12% |
| $96,951 - $206,700 | 22% |
| $206,701 - $394,600 | 24% |
| $394,601 - $501,050 | 32% |
| $501,051 - $751,600 | 35% |
| Over $751,600 | 37% |
| Capital Gains/Qualified Dividends | |
| $0 - $96,700 | 0% |
| $96,701 - $600,050 | 15% |
| Over $600,050 | 20% |
| Tax Bracket | Married, Separate |
|---|---|
| $0 - $11,925 | 10% |
| $11,926 - $48,475 | 12% |
| $48,476 - $103,350 | 22% |
| $103,351 - $197,300 | 24% |
| $197,301 - $250,525 | 32% |
| $250,526 - $375,800 | 35% |
| Over $375,800 | 37% |
| Capital Gains/Qualified Dividends | |
| $0 - $48,350 | 0% |
| $48,351 - $300,000 | 15% |
| Over $300,000 | 20% |
| Tax Bracket | Single |
|---|---|
| $0 - $11,925 | 10% |
| $11,926 - $48,475 | 12% |
| $48,476 - $103,350 | 22% |
| $103,351 - $197,300 | 24% |
| $197,301 - $250,525 | 32% |
| $250,526 - $626,350 | 35% |
| Over $626,350 | 37% |
| Capital Gains/Qualified Dividends | |
| $0 - $48,350 | 0% |
| $48,351 - $533,400 | 15% |
| Over $533,400 | 20% |
| Tax Bracket | Head of Household |
|---|---|
| $0 - $17,000 | 10% |
| $17,001 - $64,850 | 12% |
| $64,851 - $103,350 | 22% |
| $103,351 - $197,300 | 24% |
| $197,301 - $250,500 | 32% |
| $250,501 - $626,350 | 35% |
| Over $626,350 | 37% |
| Capital Gains/Qualified Dividends | |
| $0 - $64,750 | 0% |
| $64,751 - $566,700 | 15% |
| Over $566,700 | 20% |
| Tax Bracket | Trusts & Estates |
|---|---|
| $0 - $3,150 | 10% |
| $3,151 - $11,450 | 24% |
| $11,451 - $15,650 | 35% |
| Over $15,650 | 37% |
| Capital Gains/Qualified Dividends | |
| $0 - $3,250 | 0% |
| $3,251 - $15,900 | 15% |
| Over $15,900 | 20% |
| Tax Type | Corporate |
|---|---|
| Flat Tax Rate | 21% |
| Filing Status | Standard Deduction |
|---|---|
| MFJ (Married Filing Jointly) | $30,000 |
| S (Single); MFS (Married Filing Separately) | $15,000 |
| HOH (Head of Household) | $22,500 |
| Blind or >65 | +$1,600 if M +$2,000 if S or HOH |
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| Category | Limit |
|---|---|
| IRA & Roth IRA Contribution Limits | |
| Under Age 50 | $7,000 |
| Age 50 and Over | $8,000 |
| MAGI Phaseout Ranges for Contributions to Traditional IRAs | |
| MFJ | $236,000 - $246,000 |
| MFS | $0 - $10,000 |
| Single, HOH | $79,000 - $89,000 |
| Phaseout for Deducting Spousal IRA | $236,000 - $246,000 |
| MAGI Phaseout Ranges for Contributions to Roth IRAs | |
| MFJ | $236,000 - $246,000 |
| MFS | $0 - $10,000 |
| Single, HOH | $150,000 - $165,000 |
| 401(k), 403(b), 457 Elective Deferral Limits | |
| Under Age 50 | $23,500 |
| Age 50 and Over | $31,000 |
| Simple IRA Elective Deferral Limits | |
| Under Age 50 | $16,500 |
| Age 50 and Over | $20,000 |
| SEP Contribution Limits | |
| Contribution Limit | $70,000 |
| Compensation Percentage Limit | Up to 25% of compensation. Minimum compensation $750. |
| Defined Contribution & Benefit Plan Limits | |
| Limit on Annual Additions to Defined Contribution Plans | $70,000 |
| Annual Benefit Limit Under Defined Benefit Plan | $280,000 |
| Limitation Used in Defining Highly Compensated Employees | $160,000 |
| Health Savings Accounts (HSA) Contribution Limits | |
| Single | $4,300 |
| Family | $8,550 |
| Age 55 and Over (Catch-up) | $1,000 |
| Taxpayer’s Age | Life Expectancy | Taxpayer’s Age | Life Expectancy |
|---|---|---|---|
| 72 | 27.4 | 95 | 8.9 |
| 73 | 26.5 | 96 | 8.4 |
| 74 | 25.5 | 97 | 7.8 |
| 75 | 24.6 | 98 | 7.3 |
| 76 | 23.7 | 99 | 6.8 |
| 77 | 22.9 | 100 | 6.4 |
| 78 | 22.0 | 101 | 6.0 |
| 79 | 21.1 | 102 | 5.6 |
| 80 | 20.2 | 103 | 5.2 |
| 81 | 19.4 | 104 | 4.9 |
| 82 | 18.5 | 105 | 4.6 |
| 83 | 17.7 | 106 | 4.3 |
| 84 | 16.8 | 107 | 4.1 |
| 85 | 16.0 | 108 | 3.9 |
| 86 | 15.2 | 109 | 3.7 |
| 87 | 14.4 | 110 | 3.5 |
| 88 | 13.7 | 111 | 3.4 |
| 89 | 12.9 | 112 | 3.2 |
| 90 | 12.2 | 113 | 3.1 |
| 91 | 11.5 | 114 | 3.0 |
| 92 | 10.8 | 115 | 2.9 |
| 93 | 10.1 | 116 | 2.8 |
| 94 | 9.5 | 117 | 2.7 |
Use to calculate Required Minimum Distributions from IRAs and qualified plans after owner's death. See IRS Pub. 590 for complete table of ages 0 through 111+.
| Age | Life Expectancy | Age | Life Expectancy |
|---|---|---|---|
| 39 | 46.7 | 63 | 24.5 |
| 40 | 45.7 | 64 | 23.7 |
| 41 | 44.8 | 65 | 22.9 |
| 42 | 43.8 | 66 | 22.0 |
| 43 | 42.9 | 67 | 21.2 |
| 44 | 41.9 | 68 | 20.4 |
| 45 | 41.0 | 69 | 19.6 |
| 46 | 40.0 | 70 | 18.8 |
| 47 | 39.0 | 71 | 18.0 |
| 48 | 38.1 | 72 | 17.2 |
| 49 | 37.1 | 73 | 16.4 |
| 50 | 36.2 | 74 | 15.6 |
| 51 | 35.3 | 75 | 14.8 |
| 52 | 34.3 | 76 | 14.1 |
| 53 | 33.4 | 77 | 13.3 |
| 54 | 32.5 | 78 | 12.6 |
| 55 | 31.6 | 79 | 11.9 |
| 56 | 30.6 | 80 | 11.2 |
| 57 | 29.8 | 81 | 10.5 |
| 58 | 28.9 | 82 | 9.9 |
| 59 | 28.0 | 83 | 9.3 |
| 60 | 27.1 | 84 | 8.7 |
| 61 | 26.2 | 85 | 8.1 |
| 62 | 25.4 | 86 | 7.6 |
| Birth Year | Age When RMDs Start |
|---|---|
| 1950 or earlier | 72 (70 ½ for those who turned prior to 2020) |
| 1951 to 1959 | 73 |
| 1960 or later | 75 |
| Category | Amount |
|---|---|
| Amount Needed to Earn One Credit | $1,810 |
| Amount Needed to Earn Four Credits | $7,240 |
| Social Security and Medicare Tax Rates | |
| Employee | 7.65% |
| Employer | 7.65% |
| Self-Employed | 15.30% |
| Max. Monthly Retirement Benefit at Full Retirement Age | $4,018 |
| 2025 Cost of Living Adjustment | 2.5% |
| Max. Earnings Subject to Tax | $176,100 |
| Income Causing Taxable Social Security Benefits | |
| Married, Joint - 50% taxable | $32,000 MAGI |
| Married, Joint - 85% taxable | $44,000 MAGI |
| Single - 50% taxable | $25,000 MAGI |
| Single - 85% taxable | $34,000 MAGI |
| Maximum Earnings Before Social Security Reduced | |
| Under Full Retirement Age ($1 withheld for every $2 earned) | $23,400 |
| Category | Amount |
|---|---|
| Annual Gift Tax Exclusion | $19,000 |
| Estate and Gift Tax Rate | 40% |
| Estate Tax Exemption | $13,990,000 |
| Lifetime Gift Tax Exemption | $13,990,000 |
| Generation-Skipping-Transfer Tax Exemption | $13,990,000 |
| Annual Gift Tax Exclusion for Noncitizen Spouses | $190,000 |
Midland Wealth Management does not provide tax or legal advice. Please consult your tax or legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.
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