Plan Now: 2015 Tax Brackets

Want to prepare for next year's tax bill? Category: Planning

Here is a quick look at 2015 tax rates and their associated income levels. Use this information to help prepare for your tax situation this year. Using your 2014 tax information, you can plan for your tax obligation next year starting now. Don't forget that tax payers in the higher income levels are also subject to an additional .9% Medicare surtax as part of the Affordable Care Act. This will impact those with incomes over: $200,000 Single filing $250,000 Married filing joint 2015 INCOME TAX RATES Action Steps Review your 2014 Adjusted Gross Income and use the chart above to see what your marginal tax rate is. Note whether you are close to the next highest tax rate (This is your Marginal Tax Rate). If you need to withhold additional money to avoid a large tax bill, review and file a new W-4 with your employer. If possible, take steps now to manage next year's tax obligation.