Tax Rates

2022 Tax Rates - Single Taxpayers - Standard Deduction $12,950 2021 Rates

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

$7,000 if 50 or older

Maximum employee contribution to SIMPLE IRA $14,000 if under age 50

$17,000 if 50 or older

Maximum Contribution to SEP IRA 25% of eligible compensation up to $61,000

401(k) maximum employee contribution limit $20,500 if under age 50

$27,000 if 50 or older

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

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