Federal Taxes Individual Rates for 2016 Taxes

Personal Exemption Allowances:   Personal and Dependent amounts are $4,050 Each.

Capital Gains and Qualified Dividends:  If you are in the 10 OR 15% tax bracket,  the tax rate is 0%.   For other income tax brackets, the tax rate is 15%.

If you have Business Mileage, your allowance per mile for 2016 is 54 cents per mile.

If you have Charity Miles,  you can deduct 14 cents per mile.

If you have Medical or Moving expenses, you can deduct 19 cents per mile.

 

About JLM & Associates/Management & Tax Services

I am an accredited business accountant helping small businesses and individuals
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