Key Financial Figures

The new year means adjusted tax rates, contribution limits, and more. Take note of the following key financial figures for 2025.

Important Dates

Mark your calendar with these 2025 important tax and contribution deadlines.

• APR 15: Deadline to establish a 2024 SEP plan
• APR 15: “Tax Day” – deadline to file Form 1040 or request extension
• APR 15: 2024 contribution deadline for Roth IRAs and traditional IRAs
• APR 15: 2024 contribution deadline for Health Savings Accounts (HSAs)
• APR 15: 2024 contribution deadline for Solo 401(k)s, SEPs, and Keoghs
• APR 15: Deadline to correct excess IRA and/or qualified plan contributions
• APR 15: First installment of estimated taxes due for 2025
• JUN 16: Second installment of estimated taxes due for 2025
• SEPT 15: Third installment of estimated taxes due for 2025
• OCT 15: Deadline to file Form 1040 for those who requested extension
• OCT 15: Deadline to recharacterize ineligible IRA contributions made for tax year 2024
• DEC 31: Deadline for IRA/qualified plan RMDs
• DEC 31: 2025 employee contribution deadline for 401(k) plans
• DEC 31: Deadline to settle a capital loss or gain transaction
• DEC 31: Deadline to establish a 2025 Solo 401(k)

To download these key financial figures as a PDF, click here.

Income Taxes

Federal Income Tax Bracket and Rates

For tax year 2025, you’ll notice income tax rates adjusted for inflation.

(Note: If Congress does not pass legislation extending tax provisions from the Tax Cuts and Jobs Acts of 2017 , the following tax rates could increase in tax year 2026.)

For single filers:

• $0 – $11,925 — 10%
• $11,926 – $48,475 — 12%
• $48.476 – $103,350 — 22%
• $103,351 – $197,300 — 24%
• $197,301 – $250,525 — 32%
• $250,526 – $626,350 — 25%
• $626,351 and up — 37%

For married couples filing jointly:

• $0 – $23,850 — 10%
• $23,851 – $96,950 — 12%
• $96,951 – $206,700 — 22%
• $206,701 – $394,600 — 24%
• $394,601 – $501,050 — 32%
• $501,051 – $751,600 — 25%
• $751,600 and up — 37%

For head of household:

• $0 – $17,000 — 10%
• $17,001 – $64,850 — 12%
• $64,851 – $103,350 — 22%
• $103,351 – $197,300 — 24%
• $197,301 – $250,500 — 32%
• $250,501 – $626,350 — 25%
• $626,351 and up — 37%

Standard Deduction

The standard deduction has been adjusted in 2025 to the following:

• Single — $15,000
• Married Filing Jointly — $30,000
• Head of Household — $22,500

Alternative Minimum Tax Exemptions

The alternative minimum tax (AMT) is a secondary method of calculating tax that eliminates or reduces some of the deductions and exclusions from income tax that are allowed when calculating tax the usual way. The AMT is a possibility for high-income individuals who exercise incentive stock options without selling the stock in the same year or who receive tax-exempt interest from private activity bonds.

For single filers:

• Exemption amount: $88,100
• Exemption phases out at: $626,350
• 28% tax rule applies for income over: $239,100

For married filing jointly:

• Exemption amount: $137,000
• Exemption phases out at: $1,252,700
• 28% tax rule applies for income over: $239,100

For married filing separately:

• Exemption amount: $68,500
• Exemption phases out at: $626,350
• 28% tax rule applies for income over: $119,550

For trusts and estates:

• Exemption amount: $30,700
• Exemption phases out at: $102,500
• 28% tax rule applies for income over: $239,100

Retirement Plan Contributions

Retirement plan contribution and catch-up limits have changed for 2025. Retirement catch up contributions are available only to individuals who are aged 50 or older.

Retirement Plan Contribution Limits

• 401(k), 403(b), 457, Thrift Savings Plan* — $23,500
• IRA and Roth IRA — $7,000
• SIMPLE IRA — $16,500
• Solo 401(k) — $70,000
• Simplified Employee Pension (SEP-IRA): $70,000

*The contribution limits listed for these particular employer-sponsored plans do not include employer contributions.

Retirement Plan Catch Up Limits

• 401(k), 403(b), 457, Thrift Savings Plan — $7,500
• IRA and Roth IRA — $1,000
• SIMPLE IRA — $3,500
• Solo 401(k) — $7,500
• Simplified Employee Pension (SEP-IRA): $7,500**

Contribution phase outs for traditional and Roth IRAs begin once you reach a certain modified adjusted gross income, depending on your filing status.

Social Security

• Full Retirement Age — 67 years old
• Maximum Possible Monthly Benefit (at full retirement age) — $4,018
• Retirement Earnings Exempt Amounts — $23,400 per year under full retirement age
• Based on Normal Retirement Age (NRA) — $62,160 pear year until full retirement age reached (no limit after NRA)

Social Security Taxable Benefits

If you make substantial income in addition to receiving social security benefits, you may be subject to paying federal income tax on your social security benefits. Read more about that here.

To download these key financial figures as a PDF, click here.

Healthcare

Medicare Costs

Premiums:

• Part A — $518 (you usually pay no Part A coverage premium if you or your spouse paid Medicare taxes while working)
• Part B —  $185 (or higher, determined by income)
• Part C — Varies by plan
• Part D — Varies by plan/income

*You usually pay no Part A coverage premium if you or your spouse paid Medicare taxes while working. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate, which is $285.

Deductibles and Coinsurance:

• Part A Deductible (per benefit period) — $1,676
  • Coinsurance, Days 1-60 — $0
  • Coinsurance, Days 61-90 — $4019 (per day of benefit period)
  • Coinsurance, Days 91+ — $838 (per each “lifetime reserve day” after day 90 for each benefit period; up to 60 days over your lifetime)
• Part B Deductible (per year) — $257 (after deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services)

Health Savings Accounts and High Deductible Plans

For individual plans:

• HSA Contribution Limit — $4,300
• HDHP Minimum Deductible — $1,650
• HDHP Max. Out-of-Pocket Amount (HDHPs) — $8,300

For family plans:

• HSA Contribution Limit — $8,550
• HDHP Minimum Deductible — $3,300
• HDHP Max. Out-of-Pocket Amount (HDHPs) — $16,600

The catch up contribution limit for both individual and family HSA plans is $1,000 for 2025.

Qualified Dividends and Long-Term Capital Gains Tax Rates

A capital gains tax is a tax levied on the profit of the sale of an investment. The capital gains tax rate you pay depends on your income bracket. Qualified dividends are taxed at the same rate as long-term capital gains.

For single filers:

• $0 – $48,350 — 0%
• $48,351 – 533,400 — 15%
• $533,401 and up — 20%

For married filing jointly:

• $0 – $96,700 — 0%
• $96,701 – $600,050 — 15%
• $500,051 and up — 20%

For married filing separately:

• $0 – $48,350 — 0%
• $48,351 – $300,000 — 15%
• $300,001 and up — 20%

For head of household:

• $0 – $64,650 — 0%
• $64,651 – $566,700 — 15%
• $566,701 and up — 20%

3.8% Net Investment Tax

The Net Investment Tax is a 3.8% levy on certain net investment income of individuals, estates, and trusts that have income above the statutory threshold amounts. Income from interest, dividends, and capital gains are considered Net Investment Income. Other income, like wages, self-employment income, or alimony are NOT considered net investment income, and therefore not subject to this tax. Learn more about the Net Investment Tax here.

The following threshold amounts are set for 2025 (no change from 2024):

For single filers:

• $200,000

For married filing jointly:

• $250,000

For married filing separately:

• $125,000

For head of household:

• $200,000

For qualified widow(er):

• $250,000

Estate Taxes

Only estates exceeding $13.99 million in 2025 qualify for the federal estate tax. Additionally, for 2025, an individual can give away up to $19,000 without the gift tax kicking in. See more estate tax exclusions and exemptions below.

Estate Gift Tax Exclusions and Exemptions

• Unified Estate and Gift Tax Exclusion — $13,990,000
• Generation-Skipping Transfer (GST) Tax Exemption — $13,990,000
• Annual Exclusion Amount (AEA) for Gifts — $19,000
• Annual Exclusion Amount (AEA) for Gifts to Non-U.S. Citizen Spouse — $190,000

Meet your 2025 financial goals with the guidance of a financial advisor

Make your money go further this year with the help of a Landmark Financial advisor. Get in touch with us here.

To download these key financial figures as a PDF, click here.

Original post: February 2024. Updated April 2025. This material was created by Starling Digital for use by Landmark Financial, LLC and does not represent the views and opinions of Avantax Wealth Management or its subsidiaries.