| |||
10% | 0 to $11,925 | ||
12% | $11,925 to $48,475 | ||
22% | $48,475 to $103,350 | ||
24% | $103,350 to $197,300 | ||
32% | $197,300 to $250,525 | ||
35% | $250,525 to $626,350 | ||
37% | Over $626,350 | ||
2025 Tax Rates - Married Jointly & Surviving Spouses Standard Deduction $30,000 | |||
10% | 0 to $23,850 | ||
12% | $23,850 to $96,950 | ||
22% | $96,950 to $206,700 | ||
24% | $206,700 to $394,600 | ||
32% | $394,600 to $501,050 | ||
35% | $501,050 to $751,600 | ||
37% | Over $751,600 | ||
2025 Tax Rates - Married Filing Separately Standard Deduction $15,000 | |||
10% | 0 to $11,925 | ||
12% | $11,925 to $48,475 | ||
22% | $48,475 to $103,350 | ||
24% | $103,350 to $197,300 | ||
32% | $197,300 to $250,525 | ||
35% | $250,525 to $375,800 | ||
37% | Over $375,800 | ||
2025 Tax Rates - Head of Household Standard Deduction $22,500 | |||
10% | 0 to $17,000 | ||
12% | $17,000 to $64,850 | ||
22% | $64,850 to $103,350 | ||
24% | $103,350 to $197,300 | ||
32% | $197,300 to $250,500 | ||
35% | $250,500 to $626,350 | ||
37% | Over $626,350 | ||
2025 Tax Rates - Estates & Trusts | |||
10% | 0 to $3,150 | ||
24% | $3,150 to $11,450 | ||
35% | $11,450 to $15,650 | ||
37% | Over $15,650 | ||
2025 Social Security | 2025 Tax Rates |
Social Security Tax Rate: Employers | 6.2% |
Social Security Tax Rate: Employees | 6.2% |
Social Security Tax Rate: Self-Employed | 12.4% |
Maximum earnings subject to Social Security tax | $176,100 |
Maximum earnings subject to Medicare tax | Unlimited |
Medicare Tax Rate: Employers | 1.45% |
Medicare Tax Rate: Employees | 1.45% |
Medicare tax rate: Self-employed | 2.9% |
Additional Medicare tax on FICA wages and self-employment income above $200,000 (single filers) or $250,000 (joint filers) | 0.9% |
Net investment income tax on taxpayers with modified adjusted grossincome (MAGI) exceeding $200,000 (single filers) or $250,000 (jointfilers) | 3.8% |
2025 Miscellaneous | 2025 Tax Rates |
Business Section 179 expensing limit | $1,250,000 |
Business Section 179 phaseout threshold | $3,130,000 |
First-year bonus depreciation rate | 40% |
Income threshold after which the Section 199A (qualified business income) deduction for pass-through entities may begin to phase out | $197,300 (single and head of household); $394,600 (married filing jointly) |
Qualified small-employer Health Reimbursement Arrangement limit | $6,350 (single coverage); $12,800 (family coverage) |
Prior-year safe harbor for estimated taxes of higher-income taxpayers | 110% of 2024 tax liability |
Standard mileage rate for business driving | 70 cents |
Standard mileage rate for medical driving | 21 cents |
Standard mileage rate for moving driving (only members of the Armed Forces on active duty who move because of a permanent change of station) | 21 cents |
Standard mileage rate for charitable driving | 14 cents |
Child Tax Credit (per child under age 17 at the end of the tax year) | $2,000 |
Unearned income maximum for children under 19 before kiddie tax applies | $1,350 |
Maximum capital gains tax rate for taxpayers with income up to $48,350 for single filers, $96,700 for married filing jointly | 0% |
Maximum capital gains tax rate for taxpayers with income $48,350 to $533,400 for single filers, $96,700 to $600,050 for married filing jointly | 15% |
Maximum capital gains tax rate for taxpayers with income above $533,400 for single filers, $600,050 for married filing jointly | 20% |
Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
Capital gains tax rate on collectibles | 28% |
Maximum contribution for Traditional/Roth IRA | $7,000 if under age 50 / $8,000 if 50 or older |
Maximum employee contribution to SIMPLE IRA | $16,500 if under age 50 / $20,000 if 50 or older + $1,750 if age 60, 61, 62 or 63 |
Maximum contribution to SEP IRA | 25% of eligible compensation up to $70,000 |
2025 Education | 2025 Tax Rates |
American Opportunity Credit (per student) | $2,500 |
Lifetime Learning Credit (per return) | $2,000 |
Student Loan Interest Deduction (per return) | $2,500 |
Coverdell Education Savings Account Contribution (per student) | $2,000 |
2025 Standard Meal Rates for Family Child Care Providers for income tax returns | |
July 1, 2024 - June 30, 2025 | |
For each breakfast | $1.66 |
For each lunch or supper | $3.15 |
For each snack (up to 3 per day for each child) | $0.93 |
July 1, 2024 - June 30, 2025 | |
For each breakfast | $2.66 |
For each lunch or supper | $5.10 |
For each snack (up to 3 per day for each child) | $1.52 |
July 1, 2024 - June 30, 2025 | |
For each breakfast | $2.14 |
For each lunch or supper | $4.09 |
For each snack (up to 3 per day for each child) | $1.22 |
Source: Federal Register | |
“Bernard and his team at BR tax group are top notch. This is my first year using them after switching from a different local CPA and I didn't realize how much tax info I've been missing. His communication is great. The additional information he provides to maximize tax savings is something I didn't get from my previous CPA. Thanks Bernard”
You can prepare your taxes yourself, especially if your business is simple.
But once you have contractors, employees, business loans, equipment purchases, mileage, mixed expenses, or growing revenue, things get more complex. At that point, tax preparation becomes a way to make sure your business is reported correctly, your deductions are handled properly, and your records can support what you file.
Send anything that shows what your business earned, spent, bought, paid, borrowed, or changed during the year.
That usually means your income records, bank statements, credit card statements, payroll reports, contractor payments, loan documents, mileage records, and prior-year tax return. Also tell me about anything unusual, such as buying a vehicle, hiring someone, opening a new location, or taking out a business loan.
Messy books can slow things down. If expenses are in the wrong categories, transactions are missing, or personal and business spending are mixed together, your tax return may not show the right profit. We may need to clean things up before filing, so your return is accurate and easier to support.
Possibly, if it was truly for your business and you have proof.
Still, it is much better to avoid this when you can. A separate business bank account and business credit card make everything cleaner. They save time, reduce confusion, and make your records much easier to defend if anyone ever asks questions.
Most small business owners can deduct ordinary business expenses like software, advertising, supplies, insurance, rent, payroll, contractor payments, professional fees, travel, and some vehicle costs.
The question I usually ask is simple. Was this expense clearly for the business? If yes, we can look at how it should be handled. Personal expenses should stay personal.
Our services are designed specifically for business start-ups, entrepreneurs and small businesses of all sizes. Let’s start the conversation.
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