Tax Law & Source Notes
Every rate, ceiling, and exclusion the engine models — with the tax year it applies to and the section of the Internal Revenue Code it comes from. Old rules are never silently treated as current; each register entry carries its tax year.
How to read these numbers
All engine output is informational estimation for planning purposes — not tax advice, not a filing position, and never a guarantee of a specific outcome. A licensed tax professional makes the final decisions on your return.
| Rule | Code section | Tax year | Source |
|---|---|---|---|
| Federal income tax brackets Seven-bracket rate ladder; liability is priced against the TY 2024 tables. | 26 U.S.C. §1 | 2024 | Read §1 → |
| Self-employment tax — 15.3% Social Security (12.4% up to the wage base) plus Medicare (2.35% incl. additional). | 26 U.S.C. §1401 | 2024 | Read §1401 → |
| Reasonable compensation for S-Corp officers Officer salary must be reasonable — no fixed number; benchmarks by industry and region. | 26 U.S.C. §162(a)(1) | 2024 | Read §162 → |
| Section 179 expensing — $1.22M limit Immediate expensing of qualifying property placed in service; TY 2024 ceiling. | 26 U.S.C. §179 | 2024 | Read §179 → |
| The Augusta Rule — ≤14 days rental exclusion Short rental of a residence (14 days or fewer) excluded from the owner’s income. | 26 U.S.C. §280A(g) | 2024 | Read §280A → |
| Qualified business income (QBI) deduction Up to 20% of qualified business income, subject to thresholds and limits. | 26 U.S.C. §199A | 2024 | Read §199A → |
| Retirement plan annual additions — $69,000 cap Annual additions limit for defined-contribution plans; TY 2024 dollar cap. | 26 U.S.C. §415(c) | 2024 | Read §415 → |
| Estimated-tax safe harbors Underpayment penalty and the prior-year / 90% safe-harbor exceptions. | 26 U.S.C. §6654 | 2024 | Read §6654 → |
| Standard deduction $14,600 single / $29,200 married filing jointly for TY 2024. | 26 U.S.C. §63(c) | 2024 | Read §63 → |