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See the newest standard deductions, tax rates and retirement contribution limits.
Each year the IRS updates the amount allowed for standard deductions, tax rates and limits for retirement contributions and health savings accounts. Here are key adjustments for tax year 2025.
Standard deduction
The standard deduction is a flat rate that reduces taxable income and is designed to make calculating taxes easier. If you itemize deductions for things like mortgage interest and charitable donations you can’t take the standard deduction.
| Standard deduction | 2025 | Change from last year |
| Single taxpayer/Married filing separately | $15,000 | +$400 |
| Married filing jointly | $30,000 | +$800 |
| Head of household | $22,500 | +$600 |
Tax brackets
An individual’s income isn’t taxed at a single rate. Instead, each portion, or bracket, of one’s income is subject to a different rate. For example, a single taxpayer with an income of $75,000 would be taxed in three brackets:
- 10% bracket for the first $11,925
- 12% for earnings between $11,925 and $48,475, and
- 22% for earnings between $48,475 and $75,000
The 2025 federal tax brackets are broken by these income levels:
| Marginal tax rates | Income | 2025 |
| Single taxpayer
Married filing jointly Head of household |
Over $626,350
Over $751,600 Over $626,350 |
37% |
| Single taxpayer
Married filing jointly Head of household |
Over $250,525
Over $501,050 Over $250,500 |
35% |
| Single taxpayer
Married filing jointly Head of household |
Over $197,300
Over $394,600 Over $197,300 |
32% |
| Single taxpayer
Married filing jointly Head of household |
Over $103,350
Over $206,700 Over $103,350 |
24% |
| Single taxpayer
Married filing jointly Head of household |
Over $48,475
Over $96,950 Over $64,851 |
22% |
| Single taxpayer
Married filing jointly Head of household |
Over $11,925
Over $23,850 Over $17,000 |
12% |
| Single taxpayer
Married filing jointly Head of household |
$11,925 or less
$23,850 or less $17,000 or less |
10% |
Health Savings Accounts (HSAs)
To be eligible for Health Savings Account contributions, you must be enrolled in an HSA-eligible health insurance plan. Folks over age 55 can save an additional $1,000, making HSAs a valuable tool for managing health costs now and in retirement.
| Health Savings Accounts Maximums | 2025 | Change from last year |
| Individual | $4,300 | +$150 |
| Family | $8,550 | +$250 |
| Over age 55 | An additional $1,000 | No change |
Retirement saving
Saving for retirement helps reduce taxes on present earnings and set you up financially for the future. Plus, gains accrued in retirement accounts aren’t taxed until you take distributions. In 2025, the limits for most retirement account contributions have increased.
| Retirement Contributions | 2025 | Change from last year |
| 401(k), 403(b), and 457 plans | $23,500 | +$500 |
| IRA | $7,000 | No change |
| IRA catch-up limit for those 50 and over | $1,000 | No change |
| Solo 401(k) | $23,500, plus an additional 25% of compensation as employer contribution | +$500 |
| Roth IRA, under age 50
Roth IRA, 50 or older |
$7,000
$8,000 |
No change
No change |
| Modified Adjusted Gross Income (MAGI) for Roth IRA eligibility | 2025 | Change from last year |
| Single taxpayer/Married filing separately
Married filing jointly |
Under $150,000
Under $236,000 |
+$4,000
+$6,000 |
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Consumers business loans
Do you have business banking questions? Contact our knowledgeable commercial loan officers.