Tax Center

2022 Tax Rates - Single Taxpayers - 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 $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 62.5 (July 1-December 31, 2022) and
    58.5 (January 1-June 30, 2022)
  • Standard mileage rate for medical driving 22 (July 1-December 31, 2022) and
    18 (January 1-June 30, 2022)
  • Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station 22 (July 1-December 31, 2022) and 18 (January 1-June 30, 2022)
  • 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 $41,675 to $459,750 for single filers, $83,350 to $517,200 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
  • Source: IRS Revenue Procedure 2021-45

Standard Meal Rates for Family Child Care Providers for income tax returns

Continental U.S.

2022-23 Tax Rates (July 1, 2022-June 30, 2023)

  • For each breakfast $1.66
  • For each lunch or supper $3.04
  • For each snack (up to 3 per day for each child) $0.97

Alaska

2022-23 Tax Rates (July 1, 2022-June 30, 2023)

  • For each breakfast $2.59
  • For each lunch or supper $4.87
  • For each snack (up to 3 per day for each child) $1.52

Hawaii

2022-23 Tax Rates (July 1, 2022-June 30, 2023)

  • For each breakfast $1.91
  • For each lunch or supper $3.55
  • For each snack (up to 3 per day for each child) $1.12
  • Source: Federal Register

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