Tax Rates & Key Figures
The numbers that drive most planning decisions, as of tax year 2025 (returns filed in 2026). Remember that brackets are marginal — crossing a threshold only changes the rate on the dollars above it, never on your whole income.
Federal income tax brackets
| Rate | Single | Married filing jointly |
|---|---|---|
| 10% | $0 – $11,925 | $0 – $23,850 |
| 12% | $11,926 – $48,475 | $23,851 – $96,950 |
| 22% | $48,476 – $103,350 | $96,951 – $206,700 |
| 24% | $103,351 – $197,300 | $206,701 – $394,600 |
| 32% | $197,301 – $250,525 | $394,601 – $501,050 |
| 35% | $250,526 – $626,350 | $501,051 – $751,600 |
| 37% | over $626,350 | over $751,600 |
Taxable income after deductions. Head-of-household and married-filing-separately brackets differ; long-term capital gains use their own 0% / 15% / 20% thresholds.
Key figures
| Standard deduction — single | $15,750 |
| Standard deduction — married filing jointly | $31,500 |
| Standard deduction — head of household | $23,625 |
| 401(k) / 403(b) employee contribution limit | $23,500 |
| IRA contribution limit | $7,000 (+$1,000 age 50+) |
| HSA contribution limit (self / family) | $4,300 / $8,550 |
| Social Security wage base | $176,100 |
| Annual gift tax exclusion (per recipient) | $19,000 |
| Federal estate tax exemption | $13,990,000 |
| New York estate tax exemption | $7,160,000 |
| Standard mileage rate (business) | 70¢ / mile |
New York State
New York State income tax rates range from 4% to 10.9% across nine brackets. New York City residents pay an additional city income tax, and Yonkers residents pay a surcharge computed from their state tax. New York also taxes estates above its own exemption — well below the federal one — with a “cliff” that can tax the entire estate once it exceeds the threshold by about 5%.
Figures are for general reference as of tax year 2025 and change annually — verify current amounts at irs.gov and tax.ny.gov. How the numbers apply to you depends on your whole picture — that's the part we do.