June 13, 2016

Here’s how much you’ll owe in taxes next year

Find updated information regarding the 2017 tax year here.

Now that the 2015 tax filing season has wrapped up, it is the perfect time to get a jump start on planning for 2016.

Every year, the IRS announces inflation adjustments to tax rates. While there aren’t any significant changes for the 2016 tax year, individuals should incorporate the new figures and tax brackets into their planning. It’s important to note that these tax rates will be used to file your 2016 tax returns in 2017. 

The charts below break down the tax brackets for individual taxpayers and married couples filing jointly. If you’d like to make the charts larger, right click and select view image from the drop-down menu.

For more information related to tax planning, check out the CBIZ MHM Individual Tax Planning Supplement.

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