As we step into 2025, staying informed about the latest tax codes and contribution limits is crucial for financial planning. Whether you’re preparing for retirement, managing investments, or filing your annual tax return, knowing these updates will help you make smarter financial decisions. Our guide breaks down everything you need to know about the 2025 tax landscape.
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Retirement Contribution Limits & Catch-Up Provisions
If you’re planning for retirement, here are the updated contribution limits for 2025:
401(k), 403(b), 457(b) Plans
- Base Contribution: $23,500
- Catch-Up Provision (Ages 50-59 or 64+): $7,500
- Catch-Up Provision (Ages 60-63): Special considerations apply
IRA, Roth IRA, Non-Deductible IRA
- Base Contribution: $7,000
- Catch-Up Provision (Ages 50+): $1,000
Simple IRA
- Base Contribution: $16,500
- Catch-Up Provision (Ages 50-59 or 64+): $3,500
- Catch-Up Provision (Ages 60-63): Special considerations apply
Defined Contribution Plans
- Base Contribution: $70,000
- Catch-Up Provision (Ages 50+): $7,500
Important Tax Deadlines for 2025
- Jan 15: 4th quarter 2024 estimated tax payment due
- Jan 24: Estimated start of the 2024 tax season
- Jan 31: Employers must send W-2 forms; certain 1099 forms due
- Apr 15: Tax day & deadline to file IRS Form 4868 (tax extension request)
- Apr 15: Deadline for IRA & HSA contributions for 2024
- Jun 16: 2nd quarter 2025 estimated tax payment due
- Sep 15: 3rd quarter 2025 estimated tax payment due
- Oct 15: Deadline to file an extended 2024 tax return
- Dec 31: Required Minimum Distributions (RMDs) due for individuals aged 74+
- Jan 15, 2026: 4th quarter 2025 estimated tax payment due
- Apr 1, 2026: RMD due if you turned 73 in 2025
2025 Tax Brackets
| Tax Rate | Single | Married, Filing Jointly | Married, Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | $0 – $11,925 | $0 – $23,850 | $0 – $11,925 | $0 – $17,000 |
| 12% | $11,925 – $48,475 | $23,850 – $96,950 | $11,925 – $48,475 | $17,000 – $64,850 |
| 22% | $48,475 – $103,350 | $96,950 – $206,700 | $48,475 – $103,350 | $64,850 – $103,350 |
| 24% | $103,350 – $197,300 | $206,700 – $394,600 | $103,350 – $197,300 | $103,350 – $197,300 |
| 32% | $197,300 – $250,525 | $394,600 – $501,050 | $197,300 – $250,525 | $197,300 – $250,500 |
| 35% | $250,525 – $626,350 | $501,050 – $751,600 | $250,525 – $375,800 | $250,500 – $626,350 |
| 37% | Over $626,350 | Over $751,600 | Over $375,800 | Over $626,350 |
Social Security & Medicare Taxes
- Social Security (OASDI): 6.2% on max earnings of $176,100
- Medicare Tax: 1.45% (no earning limit)
- Total FICA Tax: 7.65%
- Additional Medicare Tax: 0.90% on income above:
- $250,000+ (Married, Filing Jointly)
- $125,000+ (Married, Filing Separately)
- $200,000+ (Single & Other Filers)
IRA & Roth IRA Contribution Limits
Traditional IRA Income Phase-Out Ranges
- $79,000 – $89,000: Single filers with a workplace retirement plan
- $126,000 – $146,000: Married, filing jointly (spouse covered by a plan)
- $236,000 – $246,000: Married, filing jointly (spouse not covered by a plan)
- $0 – $10,000: Married, filing separately (covered by a plan)
Roth IRA Contribution Income Limits
- $150,000 – $165,000: Single & Head of Household
- $236,000 – $246,000: Married, filing jointly
2025 Standard Deduction Amounts
| Filing Status | Standard Deduction |
| Single | $15,000 |
| Married, Filing Jointly | $30,000 |
| Married, Filing Separately | $15,000 |
| Head of Household | $22,500 |
Additional Deduction for 65+:
- Single/Head of Household: +$2,000
- Married, Filing Jointly: +$3,200
- Married, Filing Separately: +$1,600
Health Savings Account (HSA) Contribution Limits
- Individuals: $4,300
- Families: $8,550
- Catch-Up (55+ Older): $1,000
Estate & Gift Tax Exemptions
- Estate, Gift & GST Tax Rate: 40%
- Lifetime Estate, Gift & GST Exclusion: $13,990,000
- Annual Gift Exclusion: $19,000
Capital Gains Tax Brackets (For Taxes Due in April 2026)
| Tax-Filing Status | 0% Rate | 15% Rate | 20% Rate (Income Over) |
| Unmarried Individuals | $0 – $44,050 | $44,051 – $488,500 | $626,350+ |
| Married, Filing Jointly | $0 – $88,100 | $88,101 – $1,002,700 | $1,252,700+ |
Alternative Minimum Tax (AMT) Exemptions
- Single: $72,000 (Phaseout starts at $533,400)
- Married, Filing Jointly: $96,700 (Phaseout starts at $600,050)
- Married, Filing Separately: $48,350 (Phaseout starts at $300,000)
- Head of Household: $64,750 (Phaseout starts at $566,700)
