{"id":1501,"date":"2016-02-25T11:51:39","date_gmt":"2016-02-25T15:51:39","guid":{"rendered":"https:\/\/fluentricciardi.com\/?p=1501"},"modified":"2022-01-31T11:52:47","modified_gmt":"2022-01-31T15:52:47","slug":"update-of-key-2016-tax-figures","status":"publish","type":"post","link":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/","title":{"rendered":"Update Of Key 2016 Tax Figures"},"content":{"rendered":"<p>The following 2016 information is an update of the \u201cPreview Of Some Key 2016 Tax Figures\u201d article originally published last October (2015). The October 2015 publication was presented using estimated figures for 2016.<\/p>\n<p><!--more--><\/p>\n<p>However, the IRS has recently released official 2016 tax figures. This being the case, what better time is there to start thinking about implementing a tax planning initiative focused on tax year 2016 activity? The following up-to-date figures will assist you with that initiative:<\/p>\n<h3>Tax Brackets For Taxable Years Beginning in 2016 (Per Rev. Proc. 2015-53):<\/h3>\n<h4>TABLE 1 &#8211; Married Individuals Filing Joint Returns and Surviving\u00a0Spouses<\/h4>\n<p><strong>If Taxable Income Is: \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 The Tax Is:<\/strong><\/p>\n<p>Not over $18,550 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010% of the taxable income<\/p>\n<p>Over $18,550 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$1,855 plus 15% of<br \/>\nnot over $75,300 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $18,550<\/p>\n<p>Over $75,300 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$10,367.50 plus 25% of<br \/>\nnot over $151,900 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $75,300<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $151,900 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$29,517.50 plus 28% of<br \/>\nnot over $231,450 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $151,900<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $231,450 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$51,791.50 plus 33% of<br \/>\nnot over $413,350 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $231,450<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $413,350 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$111,818.50 plus 35% of<br \/>\nnot over $466,950 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $413,350<\/p>\n<p>Over $466,950 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$130,578.50 plus 39.6% of<br \/>\nthe excess over $466,950<\/p>\n<h4>TABLE 2 \u2013 Heads of Households<\/h4>\n<p><strong>If Taxable Income Is: \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0The Tax Is:<\/strong><\/p>\n<p>Not over $13,250 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010% of the taxable income<\/p>\n<p>&nbsp;<\/p>\n<p>Over $13,250 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$1,325 plus 15% of<br \/>\nnot over $50,400 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $13,250<\/p>\n<p>&nbsp;<\/p>\n<p>Over $50,400 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$6,897.50 plus 25% of<br \/>\nnot over $130,150 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $50,400<\/p>\n<p>&nbsp;<\/p>\n<p>Over $130,150 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$26,835 plus 28% of<br \/>\nnot over $210,800 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $130,150<\/p>\n<p>&nbsp;<\/p>\n<p>Over $210,800 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$49,417 plus 33% of<br \/>\nnot over $413,350 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $210,800<\/p>\n<p>&nbsp;<\/p>\n<p>Over $413,350 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$116,258.50 plus 35% of<br \/>\nnot over $441,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $413,350<\/p>\n<p>&nbsp;<\/p>\n<p>Over $441,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$125,936 plus 39.6% of<br \/>\nthe excess over $441,000<\/p>\n<h4>TABLE 3 \u2013 Unmarried Individuals (other than Surviving Spouses and\u00a0Heads of Households)<\/h4>\n<p><strong>If Taxable Income Is: \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0The Tax Is:<\/strong><\/p>\n<p>Not over $9,275 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010% of the taxable income<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $9,275 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$927.50 plus 15% of<br \/>\nnot over $37,650 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $9,275<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $37,650 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$5,183.75 plus 25% of<br \/>\nnot over $91,150 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $37,650<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $91,150 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$18,558.75 plus 28% of<br \/>\nnot over $190,150 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $91,150<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $190,150 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$46,278.75 plus 33% of<br \/>\nnot over $413,350 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $190,150<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $413,350 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$119,934.75 plus 35% of<br \/>\nnot over $415,050 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $413,350<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $415,050 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$120,529.75 plus 39.6% of<br \/>\nthe excess over $415,050<\/p>\n<p>&nbsp;<\/p>\n<h4>TABLE 4 \u2013 Married Individuals Filing Separate Returns<\/h4>\n<p><strong>If Taxable Income Is: \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0The Tax Is:<\/strong><\/p>\n<p>Not over $9,275 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010% of the taxable income<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $9,275 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$927.50 plus 15% of<br \/>\nnot over $37,650 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $9,275<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $37,650 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$5,183.75 plus 25% of<br \/>\nnot over $75,950 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $37,650<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Over $75,950 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$14,758.75 plus 28% of<br \/>\nnot over $115,725 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0the excess over $75,950<\/p>\n<p>Over $115,725 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$25,895.75 plus 33% of<br \/>\nnot over $206,675 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $115,725<\/p>\n<p>Over $206,675 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$55,909.25 plus 35% of<br \/>\nnot over $233,475 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $206,675<\/p>\n<p>Over $233,475 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$65,289.25 plus 39.6% of<br \/>\nthe excess over $233,475<\/p>\n<h4>TABLE 5 \u2013 Estates and Trusts<\/h4>\n<p><strong>If Taxable Income Is: \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0The Tax Is:<\/strong><\/p>\n<p>Not over $2,550 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a015% of the taxable income<\/p>\n<p>Over $2,550 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$382.50 plus 25% of<br \/>\nnot over $5,950 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $2,550<\/p>\n<p>Over $5,950 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$1,232.50 plus 28% of<br \/>\nnot over $9,050 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $5,950<\/p>\n<p>Over $9,050 but \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$2,100.50 plus 33% of<br \/>\nnot over $12,400 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 the excess over $9,050<\/p>\n<p>Over $12,400 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$3,206 plus 39.6% of<br \/>\nthe excess over $12,400<\/p>\n<p><strong>Personal Exemption:<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $4,050 in 2016 ($4,000 in 2015)<\/p>\n<p><strong>Standard Deductions:<\/strong><\/p>\n<p><strong>Deduction \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Tax Year 2016 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Tax Year 2015<\/strong><\/p>\n<p><em>Single<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$6,300 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $6,300<br \/>\n<em>Head of Household<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $9,300 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $9,250<br \/>\n<em>Married Filing Joint<\/em>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$12,600 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $12,600<br \/>\n<em>Married Filing Separately<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$6,300 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $6,300<\/p>\n<p><em>Dependents (claimed on<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $1,050 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $1,050<br \/>\n<em>another\u2019s return)<\/em><\/p>\n<p><em>65 or Blind: Married or Single<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0Add $1,250 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Add $1,250<br \/>\nAdd $1,550 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Add $1,550<\/p>\n<p><strong>Other Key figures:<\/strong><\/p>\n<p><em>Estate &amp; Gift Tax Exclusion<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$5.45 Million \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$5.43 Million<br \/>\n<em>Annual Gift Tax Exclusion<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$14,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$14,000<br \/>\n<em>Roth and Traditional IRA Contribution<\/em>\u00a0\u00a0 \u00a0 \u00a0$5,550 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $5,500<\/p>\n<p><strong>LIMIT<\/strong><br \/>\n<em>Exclusion from tax on a gift to a spouse<\/em>\u00a0\u00a0 \u00a0$148,000 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$147,000<br \/>\n<em>who is not a U.S. citizen<\/em><\/p>\n<p><em>Foreign earned income exclusion<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$101,300 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$100,800<\/p>\n<p><em>Phase in limitation for itemized<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$311,300 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$309,900<br \/>\n<em>deductions to be claimed on returns of<\/em><br \/>\n<em>individuals &#8211; Married<\/em><\/p>\n<p><em>The annual dollar limit on employee<\/em>\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0$2,550 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$2,550<br \/>\n<em>contributions to employer-sponsored<br \/>\nhealthcare flexible spending<br \/>\narrangements (FSA).<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em><strong>Refer to IRC.gov (various) and Rev. Proc. 2015-53 for additional details concerning 2016 rates.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The following 2016 information is an update of the \u201cPreview Of Some Key 2016 Tax Figures\u201d article originally published last October (2015). The October 2015 publication was presented using estimated figures for 2016.<\/p>\n","protected":false},"author":6,"featured_media":1502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Update Of Key 2016 Tax Figures - Fluent &amp; Ricciardi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Update Of Key 2016 Tax Figures - Fluent &amp; Ricciardi\" \/>\n<meta property=\"og:description\" content=\"The following 2016 information is an update of the \u201cPreview Of Some Key 2016 Tax Figures\u201d article originally published last October (2015). The October 2015 publication was presented using estimated figures for 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/\" \/>\n<meta property=\"og:site_name\" content=\"Fluent &amp; Ricciardi\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-25T15:51:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-31T15:52:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Becky Bertuzzi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Becky Bertuzzi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/\",\"url\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/\",\"name\":\"Update Of Key 2016 Tax Figures - Fluent &amp; Ricciardi\",\"isPartOf\":{\"@id\":\"https:\/\/fluentricciardi.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg\",\"datePublished\":\"2016-02-25T15:51:39+00:00\",\"dateModified\":\"2022-01-31T15:52:47+00:00\",\"author\":{\"@id\":\"https:\/\/fluentricciardi.com\/#\/schema\/person\/3af15d7eef1a745b1dc0ede646b5c8fc\"},\"breadcrumb\":{\"@id\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#primaryimage\",\"url\":\"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg\",\"contentUrl\":\"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg\",\"width\":1500,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fluentricciardi.com\/home\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Update Of Key 2016 Tax Figures\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fluentricciardi.com\/#website\",\"url\":\"https:\/\/fluentricciardi.com\/\",\"name\":\"Fluent &amp; Ricciardi\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fluentricciardi.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fluentricciardi.com\/#\/schema\/person\/3af15d7eef1a745b1dc0ede646b5c8fc\",\"name\":\"Becky Bertuzzi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fluentricciardi.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2c179bad29fdaf1be6271c50cbf49db8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2c179bad29fdaf1be6271c50cbf49db8?s=96&d=mm&r=g\",\"caption\":\"Becky Bertuzzi\"},\"url\":\"https:\/\/fluentricciardi.com\/author\/isynergybecky\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Update Of Key 2016 Tax Figures - Fluent &amp; Ricciardi","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/","og_locale":"en_US","og_type":"article","og_title":"Update Of Key 2016 Tax Figures - Fluent &amp; Ricciardi","og_description":"The following 2016 information is an update of the \u201cPreview Of Some Key 2016 Tax Figures\u201d article originally published last October (2015). The October 2015 publication was presented using estimated figures for 2016.","og_url":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/","og_site_name":"Fluent &amp; Ricciardi","article_published_time":"2016-02-25T15:51:39+00:00","article_modified_time":"2022-01-31T15:52:47+00:00","og_image":[{"width":1500,"height":1000,"url":"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg","type":"image\/jpeg"}],"author":"Becky Bertuzzi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Becky Bertuzzi","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/","url":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/","name":"Update Of Key 2016 Tax Figures - Fluent &amp; Ricciardi","isPartOf":{"@id":"https:\/\/fluentricciardi.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#primaryimage"},"image":{"@id":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#primaryimage"},"thumbnailUrl":"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg","datePublished":"2016-02-25T15:51:39+00:00","dateModified":"2022-01-31T15:52:47+00:00","author":{"@id":"https:\/\/fluentricciardi.com\/#\/schema\/person\/3af15d7eef1a745b1dc0ede646b5c8fc"},"breadcrumb":{"@id":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#primaryimage","url":"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg","contentUrl":"https:\/\/fluentricciardi.com\/wp-content\/uploads\/2022\/01\/shutterstock_164668091_0_3.jpeg","width":1500,"height":1000},{"@type":"BreadcrumbList","@id":"https:\/\/fluentricciardi.com\/update-of-key-2016-tax-figures\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fluentricciardi.com\/home\/"},{"@type":"ListItem","position":2,"name":"Update Of Key 2016 Tax Figures"}]},{"@type":"WebSite","@id":"https:\/\/fluentricciardi.com\/#website","url":"https:\/\/fluentricciardi.com\/","name":"Fluent &amp; Ricciardi","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fluentricciardi.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fluentricciardi.com\/#\/schema\/person\/3af15d7eef1a745b1dc0ede646b5c8fc","name":"Becky Bertuzzi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fluentricciardi.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2c179bad29fdaf1be6271c50cbf49db8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2c179bad29fdaf1be6271c50cbf49db8?s=96&d=mm&r=g","caption":"Becky Bertuzzi"},"url":"https:\/\/fluentricciardi.com\/author\/isynergybecky\/"}]}},"_links":{"self":[{"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/posts\/1501"}],"collection":[{"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/comments?post=1501"}],"version-history":[{"count":2,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/posts\/1501\/revisions"}],"predecessor-version":[{"id":1504,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/posts\/1501\/revisions\/1504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/media\/1502"}],"wp:attachment":[{"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/media?parent=1501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/categories?post=1501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fluentricciardi.com\/wp-json\/wp\/v2\/tags?post=1501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}