2024 tax rate for 2025 Tax filing

It is a beautiful Sunday here in Las Vegas.

And it is almost the end of the year.

To wrap things up and get ready for the next year, let's discuss the 2024 tax rate for the 2025 tax filing.

Here is a simplified tax table from the IRS.

Marginal rates: 

For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).

The other rates are:

35% for incomes over $243,725 ($487,450 for married couples filing jointly)
32% for incomes over $191,950 ($383,900 for married couples filing jointly)
24% for incomes over $100,525 ($201,050 for married couples filing jointly)
22% for incomes over $47,150 ($94,300 for married couples filing jointly)
12% for incomes over $11,600 ($23,200 for married couples filing jointly)

The lowest rate is 10% for incomes of single individuals with incomes of $11,600 or less ($23,200 for married couples filing jointly).

These rates are for our regular earnings, such as our W-2 job, bank interest, lottery winnings, gambling winnings, self-employed income, and rental income.

Capital Gain Rates

Capital gain rates for investments held for more than a year, stocks, business sales, property sales, etc…

A capital gains rate of 0% applies if your taxable income is less than or equal to:

• $44,625 for single and married filing separately;

• $89,250 for married filing jointly and qualifying surviving spouse; and

• $59,750 for head of household.

A capital gains rate of 15% applies if your taxable income is:

• more than $44,625 but less than or equal to $492,300 for a single;

• more than $44,625 but less than or equal to $276,900 for married filing separately;

• more than $89,250 but less than or equal to $553,850 for married filing jointly and qualifying surviving spouse; and

• more than $59,750 but less than or equal to $523,050 for head of household.

A capital gains rate of 20% applies to the extent that your taxable income exceeds the thresholds set for the 15% capital gain rate.

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