Tax Tools
2022 Tax Rates
| 2022 Tax Rates Schedule X - Single |
|---|
| If taxable income is over | But not over | 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 |
| 2022 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) |
|---|
| If taxable income is over | But not over | 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 |
| 2022 Tax Rates Schedule Y-2 - Married Filing Separately |
|---|
| If taxable income is over | But not over | 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
|
| 2022 Tax Rates Schedule Z - Head of Household |
|---|
| If taxable income is over | But not over | 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 |
| 2022 Tax Rates Estates & Trusts |
|---|
| If taxable income is over | But not over | 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 |
| Social Security 2022 Tax Rates |
|---|
| Description | Values |
|---|---|
|
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 2022 Tax Rates |
|---|
| Description | Values |
|---|---|
|
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 |
| Education 2022 Credit and Deduction Limits |
|---|
| Description | Values |
|---|---|
|
American Opportunity Tax Credit (Hope) |
$2,500 |
|
Lifetime Learning Credit |
$2,000 |
|
Student Loan Interest Deduction |
$2,500 |
|
Coverdell Education Savings Contribution |
$2,000 |
| Miscellaneous 2022 Tax Rates |
|---|
| Standard Deduction: | Values |
|---|---|
|
Married filing jointly or Qualifying Widow(er) |
$25,900 |
|
Head of household |
$19,400 |
|
Single or Married filing separately |
$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
$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 compensation up to $61,000 |
|
401(k) maximum employee contribution limit |
$20,500 if under age 50
$27,000 if 50 or older |
|
Self-employed health insurance deduction |
100% |
|
Estate tax exemption |
$12,060,000 |
|
Annual Exclusion for Gifts |
$16,000 |
|
Foreign Earned Income Exclusion |
$112,000 |