2022 Tax Rates – Single Taxpayers – Standard Deduction $12,950
2022 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $25,900
10% |
0 to $10,275 |
12% |
$10,275 to $41,775 |
22% |
$41,775 to $89,075 |
24% |
$89,075 to $170,050 |
32% |
$170,050 to $215,950 |
35% |
$215,950 to $539,900 |
37% |
Over $539,900 |
10% |
0 to $20,550 |
12% |
$20,550 to $83,550 |
22% |
$83,550 to $178,150 |
24% |
$178,150 to $340,100 |
32% |
$340,100 to $431,900 |
35% |
$431,900 to $647,850 |
37% |
Over $647,850 |
2022 Tax Rates – Married Filing Separately – Standard Deduction $12,950
2022 Tax Rates – Head of Household – Standard Deduction $19,400
10% |
0 to $10,275 |
12% |
$10,275 to $41,775 |
22% |
$41,775 to $89,075 |
24% |
$89,075 to $170,050 |
32% |
$170,050 to $215,950 |
35% |
$215,950 to $323,925 |
37% |
Over $323,925 |
10% |
0 to $14,650 |
12% |
$14,650 to $55,900 |
22% |
$55,900 to $89,050 |
24% |
$89,050 to $170,050 |
32% |
$170,050 to $215,950 |
35% |
$215,950 to $539,900 |
37% |
Over $539,900 |
2022 Tax Rates – Estates & Trusts
2022 Tax Rates – Social Security
10% |
0 to $2,750 |
24% |
$2,750 to $9,850 |
35% |
$9,850 to $13,450 |
37% |
Over $13,450 |
Social Security Tax Rate: Employers |
6.2% |
Social Security Tax Rate: Employees |
6.2% |
Social Security Tax Rate: Self-Employed |
15.3% |
Maximum Taxable Earnings |
$147,000 |
Medicare Base Salary |
Unlimited |
Medicare Tax Rate: Employers |
1.45% |
Medicare Tax Rate: Employees |
1.45% |
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) |
0.9% |
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) |
3.8% |
2022 Tax Rates – Miscellaneous
2022 Tax Rates – Education
Business expensing limit: Cap on equipment purchases |
$2,700,000 |
Business expensing limit: New and Used Equipment and Software |
$1,080,000 |
Qualified Business Income threshold amount: |
$170,050 (single and head of household); $340,100 (married filing joint return) |
Qualified Small Employer Health Reimbursement Arrangement limit: |
$5,450 (single coverage); $11,050 (family coverage) |
Prior-year safe harbor for estimated taxes of higher-income |
110% of your 2021 tax liability |
Standard mileage rate for business driving |
58.5 |
Standard mileage rate for medical driving |
18 |
Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station |
18 |
Standard mileage rate for charitable driving |
14 |
Child Tax Credit |
$3,000 to $3,600 |
Unearned income maximum for children under 19 before kiddie tax applies |
$1,150 |
Maximum capital gains tax rate for taxpayers with income up to $41,675 for single filers, $83,350 for married filing jointly |
0% |
Maximum capital gains tax rate for taxpayers with income above $41,675 for single filers, $83,350 for married filing jointly |
15% |
Maximum capital gains tax rate for taxpayers with income above $459,750 for single filers, $517,200 for married filing jointly |
20% |
Capital gains tax rate for unrecaptured Sec. 1250 gains |
25% |
Capital gains tax rate on collectibles |
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 eligible compensation |
401(k) maximum employee contribution limit |
$20,500 if under age 50 |
Estate tax exemption |
$12,060,000 |
Annual Exclusion for Gifts |
$16,000 |
American Opportunity Credit (per student) |
$2,500 |
Lifetime Learning Credit (per return) |
$2,000 |
Student Loan Interest Deduction |
$2,500 |
Coverdell Education Savings Account Contribution |
$2,000 |