Tax Rates

TAX AUDIT HELP

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The certified public accountants of Weslaco’s Gonzalez & Arrambide, Inc. have the knowledge to help you achieve your goals in the financial world. Whether serving the financial needs of an individual or small business, we help our clients eliminate stress by taking the guesswork out of financial planning.

Tax Rates


2016 Federal Tax rates, Personal Exemptions, and Standard Deductions
IRS Tax Brackets and Deduction Amounts for Tax Year 2015
2016 Income Tax Brackets

The Federal income tax has 7 tax brackets: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. The amount of tax you owe depends on your filing status and income level.
It’s important to realize that moving into a higher tax bracket does not mean that all of your income will be taxed at a higher rate. Instead, only the money that you earn within a particular tax bracket is subject to that particular tax rate.


Single:
Taxable Income Tax Rate
$0 to $9,225 10%
$9,226 to $37,450 $922.50 plus 15% of the amount over $9,225
$37,451 to $90,750 $5,156.25 plus 25% of the amount over $37,450
$90,751 to $189,300 $18,481.25 plus 28% of the amount over $90,750
$189,301 to $411,500 $46,075.25 plus 33% of the amount over $189,300
$411,501 to $413,200 $119,401.25 plus 35% of the amount over $411,500
$413,201 or more $119,996.25 plus 39.6% of the amount over $413,200