There are seven individual income tax brackets. The top individual income tax rate for ordinary income is 37%.
Tax rates for married individuals filing joint returns and surviving spouses |
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If taxable income is: |
The tax is: |
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$0 – $9,950 |
10% of taxable income |
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$9,951 – $40,525 |
$995 + 12% of the amount over $9,950 |
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$40,526 – $83,375 |
$4,664 + 22% of the amount over $40,525 |
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$86,376 – $164,925 |
$14,751 + 24% of the amount over $86,375 |
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$164,926 – $209,425 |
$33,603 + 32% of the amount over $164,925 |
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$209,426 – $523,600 |
$47,843 + 35% of the amount over $209,425 |
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$523,601 |
$157,804.25 + 37% of the amount over $523,600 |
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Charitable gifting to help maximize your client’s tax deduction
See how your clients can give and receive with a smart gifting strategy.
Leveraging assets to finance a life insurance policy
Premium Finance remains a valuable tool for those high-income clients who have a life insurance need, but don’t want to tie up the capital needed for their specific individual and estate liquidity needs.
Tax impact: Identify opportunities
See how to use your clients’ Form 1040 to gain a more comprehensive picture of their financial situation and identify areas where they could benefit from more tax-efficient strategies.
