2017 vs. 2018 Federal IRS Tax Brackets, Tax Rates, Standard Deduction and Personal Exemption Updates


[GOP/Trump 2018 tax reform update] Below are the updated tax brackets next year following passage of the Trump/GOP tax reform bill. These tax brackets and income thresholds supersede the 2018 IRS tax brackets published in the earlier updates below. Note that the updated tax rates and brackets would only apply for the 2018 tax year […]

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2015 Tax Brackets and Other Federal Taxation Updates


Given the low inflation environment over the last year, the 2015 IRS Tax Brackets, standard deductions and personal exemptions have only seen a moderate increase over 2014 levels. Federal income tax brackets and related tax items, under the tax code, provide for mandatory annual adjustments based on inflation. This is to prevent the phenomenon known as bracket […]

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2014 IRS Tax Brackets and Rates With Standard Deduction and Personal Exemption Updates


Below are the 2014 IRS federal tax brackets based on annual inflation adjustments. Given the low inflation environment there were only moderate increases in tax brackets, standard deductions and to the personal exemption. The main changes for the 2014 tax year were: Marginal tax rates remained the same as last year with 39.6% being the highest marginal […]

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2013 Medicare Tax Increase, Health Care Account and Medical Expense Changes


With a host of tax changes set to come into effect next year thanks to the expiring Bush-Obama tax cuts and new “Obama-care” health care related taxes, it can be hard to keep up with all that’s happening. But these Medicare and employer health care related tax changes in particular, will hit close to home […]

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2016 and 2017 Flexible and Dependent Care Spending Accounts (FSA) Contribution Limits


[Updated with 2017 limits] Flexible Spending Accounts (FSA) have been around for a while now and many families use them as a tax advantaged way to save for health care and dependent care related costs. However every year various limits associated with FSA accounts are reviewed by the IRS and adjusted as needed. The table below summarizes the […]

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