In this Section:
2022 Tax Rates - Single Taxpayers - Standard Deduction $12,950
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10% 0 to $10,275
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12% $10,275 to $41,775
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22% $41,775 to $89,075
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24% $89,075 to $170,050
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32% $170,050 to $215,950
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35% $215,950 to $539,900
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37% Over $539,900
2022 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $25,900
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10% 0 to $20,550
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12% $20,550 to $83,550
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22% $83,550 to $178,150
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24% $178,150 to $340,100
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32% $340,100 to $431,900
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35% $431,900 to $647,850
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37% Over $647,850
2022 Tax Rates - Married Filing Separately - Standard Deduction $12,950
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10% 0 to $10,275
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12% $10,275 to $41,775
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22% $41,775 to $89,075
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24% $89,075 to $170,050
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32% $170,050 to $215,950
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35% $215,950 to $323,925
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37% Over $323,925
2022 Tax Rates - Head of Household - Standard Deduction $19,400
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10% 0 to $14,650
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12% $14,650 to $55,900
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22% $55,900 to $89,050
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24% $89,050 to $170,050
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32% $170,050 to $215,950
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35% $215,950 to $539,900
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37% Over $539,900
2022 Tax Rates - Estates & Trusts
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10% 0 to $2,750
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24% $2,750 to $9,850
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35% $9,850 to $13,450
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37% Over $13,450
Social Security
2022 Tax Rates
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Social Security Tax Rate: Employers 6.2%
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Social Security Tax Rate: Employees 6.2%
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Social Security Tax Rate: Self-Employed 15.3%
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Maximum Taxable Earnings $147,000
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Medicare Base Salary Unlimited
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Medicare Tax Rate: Employers 1.45%
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Medicare Tax Rate: Employees 1.45%
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Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) 0.9%
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Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) 3.8%
Miscellaneous
2022 Tax Rates
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Business expensing limit: Cap on equipment purchases $2,700,000
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Business expensing limit: New and Used Equipment and Software $1,080,000
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Qualified Business Income threshold amount: $170,050 (single and head of household); $340,100 (married filing joint return)
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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
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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)
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Standard mileage rate for charitable driving 14
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Child Tax Credit $3,000 to $3,600
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Unearned income maximum for children under 19 before kiddie tax applies $1,150
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Maximum capital gains tax rate for taxpayers with income up to $41,675 for single filers, $83,350 for married filing jointly 0%
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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%
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Maximum capital gains tax rate for taxpayers with income above $459,750 for single filers, $517,200 for married filing jointly 20%
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Capital gains tax rate for unrecaptured Sec. 1250 gains 25%
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Capital gains tax rate on collectibles 28%
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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
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Annual Exclusion for Gifts $16,000
Education
2022 Tax Rates
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American Opportunity Credit (per student) $2,500
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Lifetime Learning Credit (per return) $2,000
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Student Loan Interest Deduction $2,500
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Coverdell Education Savings Account Contribution $2,000
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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)
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For each breakfast $1.66
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For each lunch or supper $3.04
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For each snack (up to 3 per day for each child) $0.97
Alaska
2022-23 Tax Rates (July 1, 2022-June 30, 2023)
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For each breakfast $2.59
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For each lunch or supper $4.87
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For each snack (up to 3 per day for each child) $1.52
Hawaii
2022-23 Tax Rates (July 1, 2022-June 30, 2023)
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For each breakfast $1.91
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For each lunch or supper $3.55
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For each snack (up to 3 per day for each child) $1.12
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Source: Federal Register
