2025 Tax Rate Information (for filing in 2026)
| Income Range | Tax Rate | |
| $0 | $12,400 | 10% |
| $12,401 | $50,400 | 12% |
| $50,401 | $105,700 | 22% |
| $105,701 | $201,775 | 24% |
| $201,776 | $256,225 | 32% |
| $256,226 | $640,600 | 35% |
| $640,601 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $24,800 | 10% |
| $24,801 | $100,800 | 12% |
| $100,801 | $211,400 | 22% |
| $211,401 | $403,550 | 24% |
| $403,551 | $512,450 | 32% |
| $512,451 | $768,700 | 35% |
| $768,701 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $24,800 | 10% |
| $24,801 | $100,800 | 12% |
| $100,801 | $211,400 | 22% |
| $211,401 | $403,550 | 24% |
| $403,551 | $512,450 | 32% |
| $512,451 | $768,700 | 35% |
| $768,701 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $12,400 | 10% |
| $12,401 | $50,400 | 12% |
| $50,400 | $105,700 | 22% |
| $105,701 | $201,775 | 24% |
| $201,776 | $256,225 | 32% |
| $256,226 | $384,350 | 35% |
| $384,351 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $17,700 | 10% |
| $17,701 | $67,450 | 12% |
| $67,451 | $105,700 | 22% |
| $106,701 | $201,750 | 24% |
| $201,751 | $256,200 | 32% |
| $256,201 | $640,600 | 35% |
| $649,601 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $3,300 | 10% |
| $3,301 | $11,700 | 24% |
| $11,701 | $16,000 | 35% |
| $16,001 | no limit | 37% |
| Taxable Wage Base | ||
| Social Security (OASDI) | $184,500 | |
| Medicare (HI only) | No Limit | |
| Retirement Earning Test | ||
| Under full retirement age | $24,480/yr $2,040/mo | |
| Note: One dollar in benefits will be withheld for every $2 in earnings above the limit | ||
| Year reaching full retirement age | $65,160/yr $5,430/mo | |
| Note: Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit. | ||
Taxability of Benefits | ||
| Individual | Married filing jointly | |
| Not Taxable | <$25,000 | <$32,000 |
| Up to 50% taxable | $25,000-$34,000 | $32,000-$44,000 |
| Up to 85% taxable | >$34,000 | >$44,000 |
| Married Filing Separately | ||
| Up to 85% of benefits are taxable | ||
| Provisional income = adjusted gross income + nontaxable income + ½ Social Security benefits | ||
| Age to Receive Full Benefits | ||
| Year of Birth | Full Retirement Age | % Reduced at age 62 |
| 1943 – 1954 | 66 | 25% |
| 1955 | 66 & 2 Months | 25.83% |
| 1956 | 66 & 4 Months | 26.67% |
| 1957 | 66 & 6 Months | 27.50% |
| 1958 | 66 & 8 Months | 28.33% |
| 1959 | 66 & 10 Months | 29.17% |
| 1950 and later | 67 | 30% |
| Delayed Retirement Credit* | ||
| Year of Birth | Year rate of increase | |
| 1943 or later | 8% | |
| 2026 Medicare—Part B and Part D costs | ||||
| If your MAGI as reported on your IRS return from two years ago is above a certain amount, your Medicare Part B and Part D premiums may be subject to an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium. | ||||
| If your yearly income in 2024 (for what you pay in 2026) was: | ||||
| File Individual Tax Return | File Joint Tax Return | File Married & Separate Tax Return | Part B Monthly Premium Cost | Part D Monthly Premium Cost |
| $109,000 or Less | $218,000 or Less | $109,000 or Less | $202.90 | Your Plan Premium |
| Above $109,000 Up to $137,000 | Above $218,000 Up to $274,000 | Not Applicable | $284.10 | $14.50 + Your Plan Premium |
| Above $137,000 | Above $274,000 Up to $342,000 | Not Applicable | $405.80 | $37.50 + Your Plan Premium |
| Above $171,000 Up to $205,000 | Above $342,000 Up to $410,000 | Not Applicable | $527.50 | $60.40 + Your Plan Premium |
| Above $205,000 and less than $500,000 | Above $410,000 and less than $750,000 | Above $109,000 and less than $391,000 | $649.20 | $83.30 + Your Plan Premium |
| $500,000 or Above | $750,000 and Above | $391,000 and Above | $689.90 | $91.00 + Your Plan Premium |
| Unmarried individuals (other than surviving spouses* and heads of households) | $16,100 |
| Married filing jointly and surviving spouses* | $32,200 |
| Married filing separately | $16,100 |
| Head of Household | $24,150 |
| Aged or Blind (additional standard deduction amount) | MFJ: $1,650 Single: $2,050 |
| Kiddie tax: unearned income** | $1,350 |
| **The amount of unearned income a child under the age of 18 and full-time students under the age of 24 can receive without filing an income tax return. | |
| 2025 through 2028 | Age 65 and older | $6,000 |
| Temporary senior deduction: On Jul. 4, 2025, the OBBBA added a temporary senior deduction for tax years 2025–2028. Qualified individuals are allowed an additional $6,000 deduction. Qualified individual means a taxpayer who has attained age 65 before the close of the tax year (and in the case of a joint return, the taxpayer’s spouse, if such spouse has attached age 65). The senior deduction begins to phase out when the taxpayer’s modified AGI exceeds $75,000 ($150,000 for a joint return). The temporary senior deduction is reduced (but not below zero) by 6% of the modified AGI in excess of the applicable threshold amount. | ||
| Long-term Capital Gains & Qualified Dividend Rates | |||||
| Long-Term Capital Gains Tax Rate | Single | Married Filing Jointly | Head of Household | Married Filing Separately | Estates and Trusts |
| 0% | $0 to $49,450 | $0 to $49,450 | $0 to $66,200 | $0 to $49,450 | $0 to $3,300 |
| 15% | $49,451 to $545,500 | $49,451 to $545,500 | $66,201 to $579,600 | $49,451 to $306,850 | $3,301 to $16,250 |
| 20% | $545,501 or More | $545,501 to More | $579,601 or More | $306,851 or More | $16,251 or More |
| Other Long-Term Gains Rates | |||||
| Gains on Collectibles | Maximum 28% | ||||
| Unrepatured 1250 Depreciation | Maximum 25% | ||||
| Net Investment Income Tax | |||||
| Individual taxpayers are liable for a 3.8% Net Investment Income Tax (NIIT) on the lesser of their net investment income, or the amount by which their modified adjusted gross income (MAGI) exceeds the statutory threshold amount based on their filing status. Net investment income includes, but is not limited to, interest, dividends, capital gains, certain annuities, and rental and royalty income (unless derived in a trade or business in which the NIIT doesn’t apply). | |||||
| Married Filing Jointly | MAGI above $250,000 | ||||
| Married Filing Separately | MAGI above $125,000 | ||||
| Qualifying Widow(er) with Dependent Child | MAGI above $250,000 | ||||
| Estates and Trusts with Undistributed Net Investment Income | MAGI above $16,000 | ||||
| All Other Filers | MAGI above $200,000 | ||||
| Estate and Gift Tax | |||||
| Estate and Gift Tax Rate | 40% | ||||
| Estate Tax Exemption | $15,000,000 | ||||
| Lifetime Gift Exemption | $15,000,000 | ||||
| GST Exemption | $15,000,000 | ||||
| Gift Tax Annual Exclusion | $19,000 | ||||
| Annual Exclusion for Gifts to Non-Citizen Spouse | $194,000 | ||||
| Estate and gift tax applicable exclusion: Effective in 2026, the OBBBA increased the lifetime estate and gift tax exemption to $15,000,000 (indexed to inflation for future years). | |||||
| Health Savings Account | |||||
| Contribution Limits | |||||
| Single/Family | $4,400 / $8,750 | ||||
| Age 55+ Catch-Up | $1,000 | ||||
| High-Deductible Health Plans | |||||
| Minimum Deductible Single/Family | $1,700 / $3,400 | ||||
| Maximum Out-of-Pocket Single/Family | $8,500 / $17,000 | ||||
| Child Tax Credit | |||||
| Credit | Maximum Credit | Income Phaseouts Begin at AGI of | |||
| Child Tax Credit | $2,200 per qualifying child* | $400,000 – Married, Filing Jointly | $200,000 – All Other Filers | ||
| *Refundable up to $1,700 per Child | |||||
| Alternative Minimum Tax (AMT) | |||||
| Unmarried (other than filing jointly surviving spouse) | Married (other than filing jointly surviving spouse) | Married Filing Separately | Estates and Trusts | ||
| AMT Exemption Amount | $90,100 | $140,200 | $70,100 | $31,400 | |
| 28% Bracket Threshold | $244,500 | $244,500 | $122,250 | $244,500 | |
| Exemption Phaseout Threshold | $500,000 / $680,200 | $1,000,000 / $1,280,400 | $500,000 / $640,200 | $104,800 / $167,600 | |
2024 Tax Rate Information (for filing in 2025)
| Income Range | Tax Rate | |
| $0 | $11,600 | 10% |
| $11,600 | $47,150 | 12% |
| $47,150 | $100,525 | 22% |
| $100,525 | $191,950 | 24% |
| $191,950 | $243,725 | 32% |
| $243,725 | $609,350 | 35% |
| $609,350 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $22,000 | 10% |
| $22,000 | $89,450 | 12% |
| $89,450 | $190,750 | 22% |
| $190,750 | $364,200 | 24% |
| $364,200 | $462,500 | 32% |
| $462,500 | $693,750 | 35% |
| $693,750 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $22,000 | 10% |
| $22,000 | $89,450 | 12% |
| $89,450 | $190,750 | 22% |
| $190,750 | $364,200 | 24% |
| $364,200 | $462,500 | 32% |
| $462,500 | $693,750 | 35% |
| $693,750 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $11,600 | 10% |
| $11,600 | $47,150 | 12% |
| $47,150 | $100,525 | 22% |
| $100,525 | $191,950 | 24% |
| $191,950 | $243,725 | 32% |
| $243,725 | $365,600 | 35% |
| $365,600 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $16,550 | 10% |
| $16,550 | $63,100 | 12% |
| $63,100 | $100,500 | 22% |
| $100,500 | $191,950 | 24% |
| $191,950 | $243,700 | 32% |
| $243,700 | $609,350 | 35% |
| $609,350 | no limit | 37% |
| Income Range | Tax Rate | |
| $0 | $3,100 | 10% |
| $3,100 | $11,150 | 24% |
| $11,150 | $15,200 | 35% |
| $15,200 | no limit | 37% |
| Base Salary | $168,600 | |
| Social Security Tax Rate | 6.20% | |
| Maximum Social Security Tax | $10,453 | |
| Medicare Base Salary | unlimited | |
| Medicare Tax Rate | 1.45% | |
| Additional Medicare Tax | 0.90% | |
| Filing status | Compensation over | |
| Married filing jointly | $250,000 | |
| Married filing separate | $125,000 | |
| Single | $200,000 | |
| Head of household (with qualifying person) | $200,000 | |
| Qualifying widow(er) with dependent child | $200,000 | |
| American Opportunity Tax Credit (Hope) | $2,500 | |
| Lifetime Learning Credit | $2,000 | |
| Student Loan Interest Deduction | $2,500 | |
| Coverdell Education Savings Contribution | $2,000 | |
| Standard Deduction: | ||
| Married filing jointly or Qualifying Widow(er) | $29,200 | |
| Head of household | $21,900 | |
| Single or Married filing separately | $14,600 | |
| Business Equipment Expense Deduction | $1,220,000 | |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your previous year’s taxes | |
| Standard mileage rate for business driving | 67 cents | |
| Standard mileage rate for medical/moving driving | 21 cents | |
| Standard mileage rate for charitable driving | 14 cents | |
| Child Tax Credit | $2,000 per qualifying child | |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain | 0% | |
| Up to | $94,050 | joint filers and surviving spouses |
| Up to | $63,000 | heads of household |
| Up to | $47,025 | single filers |
| Up to | $47,025 | married taxpayers filing separately |
| estates and trusts | ||
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and… | 15% | |
| $94,051.00 | $583,750 | joint filers and surviving spouses |
| $63,001.00 | $551,350 | heads of household |
| $47,026.00 | $518,900 | single filers |
| $47,026.00 | $591,850 | married taxpayers filing separately |
| estates and trusts | ||
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain | 20% | |
| Over | $583,750 | joint filers and surviving spouses |
| Over | $551,350 | heads of household |
| Over | $518,900 | single filers |
| Over | $591,850 | married taxpayers filing separately |
| estates and trusts | ||
| Long-term gain attributable to certain depreciation recapture | 25% | |
| Capital gains tax rate on collectibles and qualified small business stock | 28% | |
| Maximum contribution for Traditional/Roth IRA | $7,000 if under age 50 | |
| $8,00 if 50 or older | ||
| Maximum employee contribution to SIMPLE IRA | $16,000 if under age 50 | |
| $19,500 if over age 50 | ||
| Maximum Contribution to SEP IRA | 25% of compensation up to $69,000 | |
| 401(k) maximum employee contribution limit | $23,000 if under age 50 | |
| $30,500 if 50 or older | ||
| Self-employed health insurance deduction | 100% | |
| Estate tax exemption | $13,610,000 | |
| Annual Exclusion for Gifts | $18,000 | |
| Foreign Earned Income Exclusion | $126,500 | |
2023 Tax Rate Information (for filing in 2024)
| Income Range | The Tax Is | |
| $0 | $11,000 | 10% of the amount over $0 |
| $11,000 | $44,725 | $1,100 plus 12% of the amount over $11,000 |
| $44,725 | $95,375 | $5,147 plus 22% of the amount over $44,725 |
| $95,375 | $182,100 | $16,290 plus 24% of the amount over $95,375 |
| $182,100 | $231,250 | $37,104 plus 32% of the amount over $182,100 |
| $231,250 | $578,125 | $52,832 plus 35% of the amount over $231,250 |
| $578,125 | no limit | $174,238 plus 37% of the amount over $578,125 |
| Income Range | The Tax Is | |
| $0 | $22,000 | 10% of the amount over $0 |
| $22,000 | $89,450 | $2,200 plus 12% of the amount over $22,000 |
| $89,450 | $190,750 | $10,294 plus 22% of the amount over $89,450 |
| $190,750 | $364,200 | $32,580 plus 24% of the amount over $190,750 |
| $364,200 | $462,500 | $74,208 plus 32% of the amount over $364,200 |
| $462,500 | $693,750 | $105,664 plus 35% of the amount over $462,500 |
| $693,750 | no limit | $186,601.50 plus 37 % of the amount over $693,750 |
| Income Range | The Tax Is | |
| $0 | $22,000 | 10% of the amount over $0 |
| $22,000 | $89,450 | $2,200 plus 12% of the amount over $22,000 |
| $89,450 | $190,750 | $10,294 plus 22% of the amount over $89,450 |
| $190,750 | $364,200 | $32,580 plus 24% of the amount over $190,750 |
| $364,200 | $462,500 | $74,208 plus 32% of the amount over $364,200 |
| $462,500 | $693,750 | $105,664 plus 35% of the amount over $462,500 |
| $693,750 | no limit | $186,601.50 plus 37 % of the amount over $693,750 |
| Income Range | The Tax Is | |
| $0 | $11,000 | 10% of the amount over $0 |
| $11,000 | $44,725 | $1,100 plus 12% of the amount over $11,000 |
| $44,725 | $95,375 | $5,147 plus 22% of the amount over $44,725 |
| $95,375 | $182,100 | $16,290 plus 24% of the amount over $95,375 |
| $182,100 | $231,250 | $37,104 plus 32% of the amount over $182,100 |
| $231,250 | $346,875 | $52,832 plus 35% of the amount over $231,250 |
| $346,875 | no limit | $93,300.75 plus 37% of the amount over $346,875 |
| Income Range | The Tax Is | |
| $0 | $15,700 | 10% of the amount over $0 |
| $15,700 | $59,850 | $1,570 plus 12% of the amount over $15,700 |
| $59,850 | $95,350 | $6,868 plus 22% of the amount over $59,850 |
| $95,350 | $182,100 | $14,678 plus 24% of the amount over $95,350 |
| $182,100 | $231,250 | $35,498 plus 32% of the amount over $182,100 |
| $231,250 | $578,100 | $51,226 plus 35% of the amount over $231,250 |
| $578,100 | no limit | $172,623.50 plus 37% of the amount over $578,100 |
| Income Range | The Tax Is | |
| $0 | $2,950 | 10% of the taxable income |
| $2,950 | $10,550 | $290 plus 24% of the excess over $2,900 |
| $10,550 | $14,450 | $2,126 plus 35% of the excess over $10,550 |
| $14,450 | no limit | $3,491 plus 37% of the excess over $14,450 |
| Base Salary | $160,200 |
| Social Security Tax Rate | 6.20% |
| Maximum Social Security Tax | $9,932 |
| Medicare Base Salary | unlimited |
| Medicare Tax Rate | 1.45% |
| Additional Medicare Tax | 0.90% |
| Filing status | Compensation over |
| Married filing jointly | $250,000 |
| Married filing separate | $125,000 |
| Single | $200,000 |
| Head of household (with qualifying person) | $200,000 |
| Qualifying widow(er) with dependent child | $200,000 |
American Opportunity Tax Credit (Hope) | $2,500 |
Lifetime Learning Credit | $2,000 |
Student Loan Interest Deduction | $2,500 |
Coverdell Education Savings Contribution | $2,000 |
| Standard Deduction: | |
| Married filing jointly or Qualifying Widow(er) | $27,700 |
| Head of household | $20,800 |
| Single or Married filing separately | $13,850 |
| Business Equipment Expense Deduction | $1,160,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% |
| Standard Mileage Rate: | |
| For Business Driving | 65.5 ¢ |
| For Medical/Moving Driving | 22 ¢ |
| Charitable Driving | 14 ¢ |
| Child Tax Credit | $2,000 / Qualifying Child |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain | 0% |
| Joint Filers and Surviving Spouses | $89,250 |
| Heads of Household | $59,750 |
| Single Filers | $44,625 |
| Married and Filing Separately | $44,625 |
| Estates and Trusts | up to $3,000 |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and… | 15% |
| Joint Filers and Surviving Spouses | $553,850+ |
| Heads of Household | $523,050+ |
| Single Filers | $492,300+ |
| Married and Filing Separately | $276,900+ |
| Estates and Trusts | $3,000-14,649 |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain | 20% |
| Joint Filers and Surviving Spouses | $553,850+ |
| Heads of Household | $523,050+ |
| Single Filers | $492,300+ |
| Married and Filing Separately | $276,900+ |
| Estates and Trusts | $14,650+ |
| Long-term gain attributable to certain depreciation recapture | 25% |
| Capital gains tax rate on collectibles and qualified small business stock | 28% |
| Maximum contribution for Traditional/Roth IRA | |
| Under age 50 | $6,500 |
| 50 or Older | $7,500 |
| Maximum employee contribution to SIMPLE IRA | |
| Under age 50 | $15,500 |
| 50 or Older | $19,000 |
| Maximum Contribution to SEP IRA | |
| Percent of Compensation | 25% |
| Amount of Compensation | $66,000 |
| 401(k) maximum employee contribution limit | |
| Under age 50 | $22,500 |
| 50 or Older | $30,000 |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $12,920,000 |
| Annual Exclusion for Gifts | $17,000 |
| Foreign Earned Income Exclusion | $120,000 |
2022 Tax Rate Information (for filing in 2023)
Income Range | The Tax Is | |
$0 | $10,275 | 10% of the taxable amount |
$10,275 | $41,775 | $1,027.50 plus 12% of the excess over $10,275 |
$41,775 | $89,075 | $4,807.50 plus 22% of the excess over $41,775 |
$89,075 | $170,050 | $15,213.50 plus 24% of the excess over $89,075 |
$170,050 | $215,950 | $34,647.50 plus 32% of the excess over $170,050 |
$215,950 | $539,900 | $49,335.50 plus 35% of the excess over $215,950 |
$539,900 | No Limit | $162,718.00 plus 37% of the excess over $539,900 |
Income Range | The Tax Is | |
$0 | $20,550 | 10% of the taxable amount |
$20,550 | $83,550 | $2,055.00 plus 12% of the excess over $20,550 |
$83,550 | $178,150 | $9,615.00 plus 22% of the excess over $83,550 |
$178,150 | $340,100 | $30,427.00 plus 24% of the excess over $178,150 |
$340,100 | $431,900 | $69,295.00 plus 32% of the excess over $340,100 |
$431,900 | $647,850 | $98,671.00 plus 35% of the excess over $431,900 |
$647,850 | No Limit | $174,253.50 plus 37% of the excess over $647,850 |
Income Range | The Tax Is | |
$0 | $20,550 | 10% of the taxable amount |
$20,550 | $83,550 | $2,055.00 plus 12% of the excess over $20,550 |
$83,550 | $178,150 | $9,615.00 plus 22% of the excess over $83,550 |
$178,150 | $340,100 | $30,427.00 plus 24% of the excess over $178,150 |
$340,100 | $431,900 | $69,295.00 plus 32% of the excess over $340,100 |
$431,900 | $647,850 | $98,671.00 plus 35% of the excess over $431,900 |
$647,850 | No Limit | $174,253.50 plus 37% of the excess over $647,850 |
Income Range | The Tax Is | |
$0 | $10,275 | 10% of the taxable amount |
$10,275 | $41,775 | $1,027.50 plus 12% of the excess over $10,275 |
$41,775 | $89,075 | $4,807.50 plus 22% of the excess over $41,775 |
$89,075 | $170,050 | $15,213.50 plus 24% of the excess over $89,075 |
$170,050 | $215,950 | $34,647.50 plus 32% of the excess over $170,050 |
$215,950 | $323,925 | $49,335.50 plus 35% of the excess over $215,950 |
$323,925 | no limit | $87,126.75 plus 37% of the excess over $323,925 |
Income Range | The Tax Is | |
$0 | $14,650 | 10% of the taxable amount |
$14,650 | $55,900 | $1,465.00 plus 12% of the excess over $14,650 |
$55,900 | $89,050 | $6,415.00 plus 22% of the excess over $55,900 |
$89,050 | $170,050 | $13,708.00 plus 24% of the excess over $89,050 |
$170,050 | $215,950 | $33,148.00 plus 32% of the excess over $170,050 |
$215,950 | $539,900 | $47,836.00 plus 35% of the excess over $215,950 |
$539,900 | No Limit | $161,218.50 plus 37% of the excess over $539,900 |
Income Range | The Tax Is | |
$0 | $2,750 | 10% of the taxable income |
$2,750 | $9,850 | $275 plus 24% of the excess over $2,750 |
$9,850 | $13,450 | $1,979 plus 35% of the excess over $9,850 |
$13,450 | No Limit | $3,239 plus 37% of the excess over $13,450 |
Base Salary | $147,000 |
Social Security Tax Rate | 6.20% |
Maximum Social Security Tax | $9,114 |
Medicare Base Salary | unlimited |
Medicare Tax Rate | 1.45% |
Additional Medicare Tax | 0.90% |
Filing status | Compensation over |
Married filing jointly | $250,000 |
Married filing separate | $125,000 |
Single | $200,000 |
Head of household (with qualifying person) | $200,000 |
Qualifying widow(er) with dependent child | $200,000 |
American Opportunity Tax Credit (Hope) | $2,500 |
Lifetime Learning Credit | $2,000 |
Student Loan Interest Deduction | $2,500 |
Coverdell Education Savings Contribution | $2,000 |
Standard Deduction: | |
| $25,900 |
| $19,400 |
| $12,950 |
Business Equipment Expense Deduction | $1,080,000 |
Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2021 tax liability |
Standard mileage rate for business driving | 58.5 cents Jan. 1 – June 30, 2022; 62.5 cents July 1 – Dec. 31, 2022 |
Standard mileage rate for medical/moving driving | 18 cents Jan. 1 – June 30, 2022; 22 cents July 1 – Dec. 31, 2022 |
Standard mileage rate for charitable driving | 14 cents |
Child Tax Credit | $2,000 per qualifying child |
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $83,350 for joint filers and surviving spouses, $55,800 for heads of household, $41,675 for single filers, $41,675 for married taxpayers filing separately, and $2,800 for estates and trusts | 0% |
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts | 15% |
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts | 20% |
Long-term gain attributable to certain depreciation recapture | 25% |
Capital gains tax rate on collectibles and qualified small business stock | 28% |
Maximum contribution for Traditional/Roth IRA | $6,000 if under age 50 |
Maximum employee contribution to SIMPLE IRA | $14,000 if under age 50 |
Maximum Contribution to SEP IRA | 25% of compensation up to $61,000 |
401(k) maximum employee contribution limit | $20,500 if under age 50 |
Self-employed health insurance deduction | 100% |
Estate tax exemption | $12,060,000 |
Annual Exclusion for Gifts | $16,000 |
Foreign Earned Income Exclusion | $112,000 |