Tax Forms
Download our Tax Organizer to streamline gathering your tax information, and access official IRS forms, instructions and publications.
Tax Resources
Tax Tools & Resources
Tax rates, practical tax tips, record retention guidelines, forms, due dates and the latest tax news.
Tax Rates
2024 Federal Tax Rates
| Rate | Taxable income |
|---|---|
| 10% | $0 to $11,600 |
| 12% | $11,600 to $47,150 |
| 22% | $47,150 to $100,525 |
| 24% | $100,525 to $191,950 |
| 32% | $191,950 to $243,725 |
| 35% | $243,725 to $609,350 |
| 37% | Over $609,350 |
| Rate | Taxable income |
|---|---|
| 10% | $0 to $23,200 |
| 12% | $23,200 to $94,300 |
| 22% | $94,300 to $201,050 |
| 24% | $201,050 to $383,900 |
| 32% | $383,900 to $487,450 |
| 35% | $487,450 to $731,200 |
| 37% | Over $731,200 |
| Rate | Taxable income |
|---|---|
| 10% | $0 to $3,100 |
| 24% | $3,100 to $11,150 |
| 35% | $11,150 to $15,200 |
| 37% | Over $15,200 |
| Filing status | Amount |
|---|---|
| Married Filing Jointly / Qualifying Widow | $29,200 |
| Head of Household | $21,900 |
| Single / Married Filing Separately | $14,600 |
| Social Security wage base | $168,600 at 6.20% (max employee tax $10,453.20) |
|---|---|
| Medicare tax | Unlimited wage base at 1.45% |
| Additional Medicare tax | 0.90% on compensation over $250,000 (MFJ), $125,000 (MFS), $200,000 (Single/HOH/Widow) |
| 0% | Up to $94,050 (MFJ), $63,000 (HOH), $47,025 (Single/MFS) |
|---|---|
| 15% | Up to $583,750 (MFJ), $551,350 (HOH), $518,900 (Single) |
| 20% | Over $583,750 (MFJ), $551,350 (HOH), $518,900 (Single) |
| 25% | Unrecaptured Section 1250 gain |
| 28% | Collectibles / Section 1202 small business stock |
| Section 179 expense limit | $1,220,000 |
|---|---|
| Standard mileage rate | Business 67¢/mile; Medical/Moving 21¢/mile; Charitable 14¢/mile |
| Traditional/Roth IRA | $7,000 (under 50) / $8,000 (50+) |
| 401(k) / 403(b) employee | $23,000 (under 50) / $30,500 (50+) |
| SIMPLE IRA employee | $16,000 (under 50) / $19,500 (50+) |
| SEP IRA | 25% of compensation up to $69,000 |
| Lifetime estate tax exemption | $13,610,000 |
| Annual gift tax exclusion | $18,000 |
| Foreign earned income exclusion | $126,500 |
Tax Tips
Tax tips for individuals, businesses and finance
Individuals
Tax Incentives for Higher Education
Understand the American Opportunity Tax Credit, Lifetime Learning Credit, student loan interest deduction and their income phaseouts.
Check Withholding to Avoid a Tax Surprise
Review your Form W-4 periodically and after life milestones using IRS Publication 505 and the withholding calculator.
Amended Returns
File Form 1040X to correct filing status, income, deductions or credits, generally within 3 years of filing or 2 years of paying the tax.
Filing an Extension
Form 4868 grants an automatic 6-month extension to file — but not an extension of time to pay.
Selling Your Home
Exclude up to $250,000 ($500,000 joint) of gain if you meet the 2-out-of-5-year ownership and use tests.
Where's My Refund?
E-filed returns typically process in about 3 weeks, paper returns in 6–8 weeks. Direct deposit is fastest.
Businesses
Organizational and Start-Up Costs
Deduct up to $5,000 of start-up and $5,000 of organizational costs (phased out above $50,000), amortizing the rest over 180 months.
Business or Hobby?
The IRS weighs nine factors under IRC Section 183 to determine whether an activity is engaged in for profit.
Deductible Home Offices
The space must be used exclusively and regularly as your principal place of business under IRC Section 280A.
Filing Deadline & Extension Options
Corporations, S corporations and partnerships may request an automatic 6-month extension with Form 7004.
Corporate Charitable Contributions
Deductions are generally limited to 10% of taxable income with a 5-year carryover; Form 8283 is required for non-cash gifts over $5,000.
Finance
Tax Saving Techniques
Consider donating appreciated securities, Health Savings Accounts, Roth IRAs, municipal bonds and capturing 401(k) employer matches.
Deducting Mortgage Interest
Interest is deductible on up to $750,000 of acquisition debt for loans after December 15, 2017 ($1,000,000 for grandfathered debt).
Capital Gains and Losses
Net losses offset up to $3,000 of ordinary income per year, with unused losses carried forward indefinitely.
Coverdell Education Savings Accounts
Contribute up to $2,000 per beneficiary per year for tax-free K-12 and post-secondary education distributions.
Individual Retirement Accounts
Traditional IRA deductibility depends on plan participation and income; catch-up contributions are available at age 50+.
Retention Guide
How long to keep your records
| 1 Year | Correspondence with customers and vendors, duplicate deposit slips, purchase order copies, receiving sheets, requisitions, stockroom withdrawal forms |
|---|---|
| 3 Years | Terminated employee records, employment applications, expired insurance policies, general correspondence, internal audit reports, petty cash vouchers, time cards |
| 6 Years | Accident reports, AP/AR ledgers, bank statements and reconciliations, cancelled checks, employment tax records, expired contracts and leases, invoices, payroll records, purchase orders, sales records, travel and entertainment receipts |
| Permanently | CPA audit reports, corporate charters, bylaws and minutes, deeds, depreciation schedules, annual financial statements, general ledgers, IRS revenue agent reports, legal filings, pension records, tax returns and worksheets, trademarks and patents |
| 1 Year | Monthly/quarterly mutual fund and IRA statements (discard once year-end statement arrives) |
|---|---|
| 3 Years | Credit card statements, medical bills (for insurance disputes), utility records, expired insurance policies |
| 6 Years | Supporting documents for tax returns, accident reports and claims, tax-related medical bills, sales receipts, wage garnishments, other tax bills |
| Permanently | CPA audit reports, legal records, important correspondence, income tax returns, tax payment checks, investment trade confirmations, pension/IRA records (Forms 5498, 1099-R, 8606) |
| Special | Car records until sold; pay stubs until reconciled with W-2; mortgages, deeds and leases 6 years beyond termination; warranties for product life |
Due Dates
Track monthly and annual federal filing, estimated payment and deposit deadlines with the official IRS online tax calendar.
Open the Tax Calendar
Monthly News
What's New
Recent articles on tax legislation, regulatory changes and planning strategies.
Turn A Real Estate Sale Into A Tax-smart Strategy
How Section 453 installment sales can spread gain on appreciated real estate, manage depreciation recapture and the 3.8% NIIT.
Before You Shred: Know Which Tax Records To Keep
The 3-year audit window, 6-year omission rule, and records you should keep longer.
What To Know If You Receive An IRS Notice
Understanding CP12, CP14, CP49, CP2000 and Letter 4883C.
The IRS Criteria For Distinguishing Hobbies From Businesses
The Treasury Regulation factors and why hobby expenses are no longer deductible.
What's New For Retirement Catch-up Contributions In 2026
SECURE 2.0 mandatory Roth catch-up rules and the new $11,250 tier for ages 60–63.
Businesses Regain Immediate Deduction For R&E Expenses
Section 174 domestic research expensing is back, with amended return opportunities for small businesses.
Unlock Bigger Deductions On Rental Real Estate
Real estate professional status, material participation and the $25,000 small landlord allowance.
Estate Planning For 2026 And Beyond
The $15 million exemption and using SLATs and SPATs to lock in flexibility.
Can You Claim A Tax Deduction For Tips Or Overtime Income?
New deductions of up to $25,000 for qualified tips and $12,500 ($25,000 MFJ) for overtime premiums.
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