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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 | ||
2022 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $25,900 | |||
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 | |||
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 | ||
2022 Tax Rates – Head of Household – Standard Deduction $19,400 | |||
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 | |||
10% | 0 to $2,750 | ||
24% | $2,750 to $9,850 | ||
35% | $9,850 to $13,450 | ||
37% | Over $13,450 | ||
Social Security | 2022 Tax Rates |
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% |
Miscellaneous | 2022 Tax Rates |
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 |
Education | 2022 Tax Rates |
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 |
Source: IRS Revenue Procedure 2021-45 |
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Standard Meal Rates for Family Child Care Providers for income tax returns | |
Continental U.S. | 2021-22 Tax Rates (July 1, 2021-June 30, 2022) |
For each breakfast | $1.40 |
For each lunch or supper | $2.63 |
For each snack (up to 3 per day for each child) | $0.78 |
Alaska | 2021-22 Tax Rates (July 1, 2021-June 30, 2022) |
For each breakfast | $2.23 |
For each lunch or supper | $4.26 |
For each snack (up to 3 per day for each child) | $1.27 |
Hawaii | 2021-22 Tax Rates (July 1, 2021-June 30, 2022) |
For each breakfast | $1.63 |
For each lunch or supper | $3.08 |
For each snack (up to 3 per day for each child) | $0.91 |
Source: Federal Register |
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