Tax Rates
| 2024 Tax Rates - Single Taxpayers Standard Deduction $14,600 | |
| 10% | 0 to $11,600 |
| 12% | $11,600 to $47,150 |
| 22% | $47,150 to $100,525 |
| 24% | $100,525 to $191,950 |
| 32% | $191,950 to $243,725 |
| 35% | $243,725 to $609,350 |
| 37% | Over $609,350 |
| 2024 Tax Rates - Married Jointly & Surviving Spouses Standard Deduction $29,200 | |
| 10% | 0 to $23,200 |
| 12% | $23,201 to $94,300 |
| 22% | $94,301 to $201,050 |
| 24% | $201,051 to $383,900 |
| 32% | $383,901 to $487,450 |
| 35% | $487,451 to $731,200 |
| 37% | Over $731,200 |
| 2024 Tax Rates - Married Filing Separately Standard Deduction $14,600 | |
| 10% | 0 to $11,600 |
| 12% | $11,600 to $47,150 |
| 22% | $47,150 to $100,525 |
| 24% | $100,525 to $191,950 |
| 32% | $191,950 to $243,725 |
| 35% | $243,725 to $365,600 |
| 37% | Over $365,600 |
| 2024 Tax Rates - Head of Household Standard Deduction $21,900 | |
| 10% | 0 to $16,550 |
| 12% | $16,550 to $63,100 |
| 22% | $63,100 to $100,500 |
| 24% | $100,500 to $191,950 |
| 32% | $191,950 to $243,725 |
| 35% | $243,725 to $609,350 |
| 37% | Over $609,350 |
| 2024 Tax Rates - Estates & Trusts | |
| 10% | 0 to $3,100 |
| 24% | $3,100 to $11,150 |
| 35% | $11,150 to $15,200 |
| 37% | Over $15,200 |
| 2024 Social Security | 2024 Tax Rates |
| Social Security Tax Rate: Employers | 6.2% |
| Social Security Tax Rate: Employees | 6.2% |
| Social Security Tax Rate: Self-Employed | 12.4% |
| Maximum earnings subject to Social Security tax | $168,600 |
| Maximum earnings subject to Medicare tax | Unlimited |
| Medicare Tax Rate: Employers | 1.45% |
| Medicare Tax Rate: Employees | 1.45% |
| Medicare tax rate: Self-employed | 2.9% |
| Additional Medicare tax on FICA wages and self-employment income above $200,000 (single filers) or $250,000 (joint filers) | 0.9% |
| Net investment income tax on taxpayers with modified adjusted grossincome (MAGI) exceeding $200,000 (single filers) or $250,000 (jointfilers) | 3.8% |
| 2024 Miscellaneous | 2024 Tax Rates |
| Business Section 179 expensing limit | $1,220,000 |
| Business Section 179 phaseout threshold | $3,050,000 |
| First-year bonus depreciation rate | 60% |
| Income threshold after which the Section 199A (qualified business income) deduction for pass-through entities may begin to phase out | $191,950 (single and head of household); $383,900 (married filing jointly) |
| Qualified small-employer Health Reimbursement Arrangement limit | $6,150 (single coverage); $12,450 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher-income taxpayers | 110% of 2023 tax liability |
| Standard mileage rate for business driving | 67 cents |
| Standard mileage rate for medical driving | 21 cents |
| Standard mileage rate for moving driving (only members of the Armed Forces on active duty who move because of a permanent change of station) | 21 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit (per child under age 17 at the end of the tax year) | $2,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,300 |
| Maximum capital gains tax rate for taxpayers with income up to $47,025 for single filers, $94,050 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income $47,025 to $518,900 for single filers, $94,050 to $583,750 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $518,900 for single filers, $583,750 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 | $7,000 if under age 50/$8,000 if 50 or older |
| Maximum employee contribution to SIMPLE IRA | $16,000 if under age 50/$19,500 if 50 or older |
| Maximum contribution to SEP IRA | 25% of eligible compensation up to $69,000 |
| 2024 Education | 2024 Tax Rates |
| American Opportunity Credit (per student) | $2,500 |
| Lifetime Learning Credit (per return) | $2,000 |
| Student Loan Interest Deduction (per return) | $2,500 |
| Coverdell Education Savings Account Contribution (per student) | $2,000 |
| 2024 Standard Meal Rates for Family Child Care Providers for income tax returns | |
| Continental U.S. | 2023-24 Tax Rates (July 1, 2023-June 30, 2024) |
| For each breakfast | $1.65 |
| For each lunch or supper | $3.12 |
| For each snack (up to 3 per day for each child) | $0.93 |
| Alaska | 2023-24 Tax Rates (July 1, 2023-June 30, 2024) |
| For each breakfast | $2.63 |
| For each lunch or supper | $5.05 |
| For each snack (up to 3 per day for each child) | $1.50 |
| Hawaii | 2023-24 Tax Rates (July 1, 2023-June 30, 2024) |
| For each breakfast | $2.12 |
| For each lunch or supper | $4.05 |
| For each snack (up to 3 per day for each child) | $1.20 |
| Source: Federal Register | |
| 2023 Tax Rates - Single Taxpayers - Standard Deduction $13,850 | |
| 10% | 0 to $11,000 |
| 12% | $11,000 to $44,725 |
| 22% | $44,725 to $95,375 |
| 24% | $95,375 to $182,100 |
| 32% | $182,100 to $231,250 |
| 35% | $231,250 to $578,125 |
| 37% | Over $578,125 |
| 2023 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $27,700 | |
| 10% | 0 to $22,000 |
| 12% | $22,000 to $89,450 |
| 22% | $89,450 to $190,750 |
| 24% | $190,750 to $364,200 |
| 32% | $364,200 to $462,500 |
| 35% | $462,500 to $693,750 |
| 37% | Over $693,750 |
| 2023 Tax Rates - Married Filing Separately - Standard Deduction $13,850 | |
| 10% | 0 to $11,000 |
| 12% | $11,000 to $44,725 |
| 22% | $44,725 to $95,375 |
| 24% | $95,375 to $182,100 |
| 32% | $182,100 to $231,250 |
| 35% | $231,250 to $346,875 |
| 37% | Over $346,875 |
| 2023 Tax Rates - Head of Household - Standard Deduction $20,800 | |
| 10% | 0 to $15,700 |
| 12% | $15,700 to $59,850 |
| 22% | $59,850 to $95,350 |
| 24% | $95,350 to $182,100 |
| 32% | $182,100 to $231,250 |
| 35% | $231,250 to $578,100 |
| 37% | Over $578,100 |
| 2023 Tax Rates - Estates & Trusts | |
| 10% | 0 to $2,900 |
| 24% | $2,900 to $10,550 |
| 35% | $10,550 to $14,450 |
| 37% | Over $14,450 |
| Social Security | 2023 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 | $160,200 |
| 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 | 2023 Tax Rates |
| Business expensing limit: Cap on equipment purchases | $2,890,000 |
| Business expensing limit: New and Used Equipment and Software | $1,160,000 |
| Qualified Business Income threshold amount: | $182,100 (single and head of household); $364,200 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit: | $5,850 (single coverage); $11,800 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2022 tax liability |
| Standard mileage rate for business driving | 65.5 |
| Standard mileage rate for medical driving | 22 |
| Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station | 22 |
| Standard mileage rate for charitable driving | 14 |
| Child Tax Credit | $2,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,250 |
| Maximum capital gains tax rate for taxpayers with income up to $44,625 for single filers, $89,250 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income $44,625 to $492,300 for single filers, $89,250 to $553,850 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $492,300 for single filers, $553,850 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 |
$6,500 if under age 50 $7,500 if 50 or older |
| Maximum employee contribution to SIMPLE IRA |
$15,500 if under age 50 $19,000 if 50 or older |
| Maximum Contribution to SEP IRA |
25% of eligible compensation up to $66,000 |
| 401(k) maximum employee contribution limit |
$22,500 if under age 50 $30,000 if 50 or older |
| Estate tax exemption | $12,920,000 |
| Annual Exclusion for Gifts | $17,000 |
| Education | 2023 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 2022-38 |
| 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 | |
| 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 | |
| 2021 Tax Rates - Single Taxpayers - Standard Deduction $12,550 | |
| 10% | 0 to $9,950 |
| 12% | $9,950 to $40,525 |
| 22% | $40,525 to $86,375 |
| 24% | $86,375 to $164,925 |
| 32% | $164,925 to $209,425 |
| 35% | $209,425 to $523,600 |
| 37% | Over $518,400 |
| 2021 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $25,100 | |
| 10% | 0 to $19,900 |
| 12% | $19,900 to $81,050 |
| 22% | $81,050 to $172,750 |
| 24% | $172,750 to $329,850 |
| 32% | $329,850 to $418,850 |
| 35% | $418,850 to $628,300 |
| 37% | Over $628,300 |
| 2021 Tax Rates - Married Filing Separately - Standard Deduction $12,550 | |
| 10% | 0 to $9,950 |
| 12% | $9,950 to $40,525 |
| 22% | $40,525 to $86,375 |
| 24% | $86,355 to $164,925 |
| 32% | $164,925 to $209,425 |
| 35% | $209,425 to $314,150 |
| 37% | Over $314,150 |
| 2021 Tax Rates - Head of Household - Standard Deduction $18,800 | |
| 10% | 0 to $14,200 |
| 12% | $14,200 to $54,200 |
| 22% | $54,200 to $86,350 |
| 24% | $86,350 to $164,900 |
| 32% | $164,900 to $209,400 |
| 35% | $209,400 to $523,600 |
| 37% | Over $523,600 |
| 2021 Tax Rates - Estates & Trusts | |
| 10% | 0 to $2,650 |
| 24% | $2,650 to $9,550 |
| 35% | $9,550 to $13,050 |
| 37% | Over $13,050 |
| Social Security | 2021 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 | $142,800 |
| 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 | 2021 Tax Rates |
| Business expensing limit: Cap on equipment purchases | $2,620,000 |
| Business expensing limit: New and Used Equipment and Software | $1,050,000 |
| Qualified Business Income threshold amount: | $164,925 (single and head of household); $329,800 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit: | $5,300 (single coverage); $10,700 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2020 tax liability |
| Standard mileage rate for business driving | 56 cents |
| Standard mileage rate for medical driving | 16 cents |
| Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station | 16 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,100 |
| Maximum capital gains tax rate for taxpayers with income up to $40,400 for single filers, $80,800 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $40,400 for single filers, $80,800 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $445,850 for single filers, $501,600 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 |
$13,500 if under age 50 $16,500 if 50 or older |
| Maximum Contribution to SEP IRA |
25% of eligible compensation up to $58,000 |
| 401(k) maximum employee contribution limit |
$19,500 if under age 50 $26,000 if 50 or older |
| Estate tax exemption | $11,700,000 |
| Annual Exclusion for Gifts | $15,000 |
| Education | 2021 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
| Source: IRS Revenue Procedure 2020-45 |
| 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/b> | 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 | |
| 2020 Tax Rates - Single Taxpayers - Standard Deduction $12,400. | |
| 10% | 0 to $9,875 |
| 12% | $9,875 to $40,125 |
| 22% | $40,125 to $85,525 |
| 24% | $85,525 to $163,300 |
| 32% | $163,300 to $207,350 |
| 35% | $207,350 to $518,400 |
| 37% | Over $518,400 |
| 2020 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $24,800 | |
| 10% | 0 to $19,750 |
| 12% | $19,750 to $80,250 |
| 22% | $80,250 to $171,050 |
| 24% | $171,050 to $326,600 |
| 32% | $326,600 to $414,700 |
| 35% | $414,700 to $622,050 |
| 37% | Over $622,050 |
| 2020 Tax Rates - Married Filing Separately - Standard Deduction $12,400 | |
| 10% | 0 to $9,875 |
| 12% | $9,875 to $40,125 |
| 22% | $40,125 to $85,525 |
| 24% | $85,525 to $163,300 |
| 32% | $163,300 to $207,350 |
| 35% | $207,350 to $311,025 |
| 37% | Over $311,025 |
| 2020 Tax Rates - Head of Household - Standard Deduction $18,650 | |
| 10% | 0 to $14,100 |
| 12% | $14,100 to $53,700 |
| 22% | $53,700 to $85,500 |
| 24% | $85,500 to $163,300 |
| 32% | $163,300 to $207,350 |
| 35% | $207,350 to $518,400 |
| 37% | Over $518,400 |
| 2020 Tax Rates - Estates & Trusts | |
| 10% | 0 to $2,600 |
| 24% | $2,600 to $9,450 |
| 35% | $9,450 to $12,950 |
| 37% | Over $12,950 |
| Social Security | 2020 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 | $137,700 |
| 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 | 2020 Tax Rates |
| Business expensing limit: Cap on equipment purchases | $2,590,000 |
| Business expensing limit: New and Used Equipment and Software | $1,040,000 |
| Qualified Business Income threshold amount: | $163,300 (single and head of household); $326,600 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit: | $5,250 (single coverage); $10,450 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2019 tax liability |
| Standard mileage rate for business driving | 57.5 cents |
| Standard mileage rate for medical driving | 17 cents |
| Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station | 17 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,100 |
| Maximum capital gains tax rate for taxpayers with income up to $40,000 for single filers, $80,000 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $40,000 for single filers, $80,000 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $441,450 for single filers, $496,600 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 |
$13,500 if under age 50 $16,500 if 50 or older |
| Maximum Contribution to SEP IRA |
25% of eligible compensation up to $57,000 |
| 401(k) maximum employee contribution limit |
$19,500 if under age 50 $26,000 if 50 or older |
| Estate tax exemption | $11,580,000 |
| Annual Exclusion for Gifts | $15,000 |
| Education | 2020 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
| Source: IRS Revenue Procedure 2019-44 |
| Standard Meal Rates for Family Child Care Providers for income tax returns | |
| Continental U.S. | 2020-21 Tax Rates (July 1, 2020-June 30, 2021) |
| For each breakfast | $1.39 |
| For each lunch or supper | $2.61 |
| For each snack (up to 3 per day for each child) | $0.78 |
| Alaska | 2020-21 Tax Rates (July 1, 2020-June 30, 2019) |
| For each breakfast | $2.22 |
| For each lunch or supper | $4.24 |
| For each snack (up to 3 per day for each child) | $1.26 |
| Hawaii | 2020-21 Tax Rates (July 1, 2020-June 30, 2021) |
| For each breakfast | $1.62 |
| For each lunch or supper | $3.06 |
| For each snack (up to 3 per day for each child) | $0.91 |
| Source: Federal Register | |
| 2019 Tax Rates - Single Taxpayers - Standard Deduction $12,200 | |
| 10% | 0 to $9,700 |
| 12% | $9,700 to $39,475 |
| 22% | $39,475 to $84,200 |
| 24% | $84,200 to $160,725 |
| 32% | $160,725 to $204,100 |
| 35% | $204,100 to $510,300 |
| 37% | Over $510,300 |
| 2019 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $24,400 | |
| 10% | 0 to $19,400 |
| 12% | $19,400 to $78,950 |
| 22% | $78,950 to $168,400 |
| 24% | $168,400 to $321,450 |
| 32% | $321,450 to $408,200 |
| 35% | $408,200 to $612,350 |
| 37% | Over $612,350 |
| 2019 Tax Rates - Married Filing Separately - Standard Deduction $12,200 | |
| 10% | 0 to $9,700 |
| 12% | $9,700 to $39,475 |
| 22% | $39,475 to $84,200 |
| 24% | $84,200 to $160,725 |
| 32% | $160,725 to $204,100 |
| 35% | $204,100 to $306,175 |
| 37% | Over $306,175 |
| 2019 Tax Rates - Head of Household - Standard Deduction $18,350 | |
| 10% | 0 to $13,850 |
| 12% | $13,850 to $52,850 |
| 22% | $52,850 to $84,200 |
| 24% | $84,200 to $160,700 |
| 32% | $160,700 to $204,100 |
| 35% | $204,100 to $510,300 |
| 37% | Over $510,300 |
| 2019 Tax Rates - Estates & Trusts | |
| 10% | 0 to $2,600 |
| 24% | $2,600 to $9,300 |
| 35% | $9,300 to $12,750 |
| 37% | Over $12,750 |
| Social Securit | 2019 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 | $132,900 |
| 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 | 2019 Tax Rates |
| Business expensing limit: Cap on equipment purchases | $2,550,000 |
| Business expensing limit: New and Used Equipment and Software | $1,020,000 |
| Qualified Business Income threshold amount: | $160,700 (single and head of household); $321,400 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit: | $5,150 (single coverage); $10,450 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2018 tax liability |
| Standard mileage rate for business driving | 58 cents |
| Standard mileage rate for medical driving | 20 cents |
| Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station | 20 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,100 |
| Maximum capital gains tax rate for taxpayers with income up to $39,375 for single filers, $78,750 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $39,375 for single filers, $78,750 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $434,550 for single filers, $488,850 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 |
$13,000 if under age 50 $16,000 if 50 or older |
| Maximum Contribution to SEP IRA |
25% of eligible compensation up to $56,000 |
| 401(k) maximum employee contribution limit |
$19,000 if under age 50 $25,000 if 50 or older |
| Estate tax exemption | $11,400,000 |
| Annual Exclusion for Gifts | $15,000 |
| Education | 2019 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
| Source: IRS Revenue Procedure 2018-57 |
| Standard Meal Rates for Family Child Care Providers for 2019 income tax returns | |
| Continental U.S. | 2019-20 Tax Rates (July 1, 2019-June 30, 2020) |
| For each breakfast | $1.33 |
| For each lunch or supper | $2.49 |
| For each snack (up to 3 per day for each child) | $0.74 |
| Alaska | >2019-20 Tax Rates (July 1, 2019-June 30, 2020) |
| For each breakfast | $2.12 |
| For each lunch or supper | $4.04 |
| For each snack (up to 3 per day for each child) | $1.20 |
| Hawaii | 2019-20 Tax Rates (July 1, 2019-June 30, 2020) |
| For each breakfast | $1.54 |
| For each lunch or supper | $2.92 |
| For each snack (up to 3 per day for each child) | $0.87 |
| Source: Federal Register | |
| 2018 Tax Rates - Single Taxpayers - Standard Deduction $12,000 | |
| 10% | 0 to $9,525 |
| 12% | $9,525 to $38,700 |
| 22% | $38,700 to $82,500 |
| 24% | $82,500 to $157,500 |
| 32% | $157,500 to $200,000 |
| 35% | $200,000 to $500,000 |
| 37% | Over $500,000 |
| 2018 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $24,000 | |
| 10% | 0 to $19,050 |
| 12% | $19,050 to $77,400 |
| 22% | $77,400 to $165,000 |
| 24% | $165,000 to $315,000 |
| 32% | $315,000 to $400,000 |
| 35% | $400,000 to $600,000 |
| 37% | Over $600,000 |
| 2018 Tax Rates - Married Filing Separately - Standard Deduction $12,000 | |
| 10% | 0 to $9,525 |
| 12% | $9,525 to $38,700 |
| 22% | $38,700 to $82,500 |
| 24% | $82,500 to $157,500 |
| 32% | $157,500 to $200,000 |
| 35% | $200,000 to $300,000 |
| 37% | Over $300,000 |
| 2018 Tax Rates - Head of Household - Standard Deduction $18,000 | |
| 10% | 0 to $13,600 |
| 12% | $13,600 to $51,800 |
| 22% | $51,800 to $82,500 |
| 24% | $82,500 to $157,500 |
| 32% | $157,500 to $200,000 |
| 35% | $200,000 to $500,000 |
| 37% | Over $500,000 |
| 2018 Tax Rates - Estates & Trusts | |
| 10% | 0 to $2,550 |
| 24% | $2,550 to $9,150 |
| 35% | $9,150 to $12,500 |
| 37% | Over $12,500 |
| Social Security | 2018 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 | $128,400 |
| 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 | 2018 Tax Rates |
| Business expensing limit: Cap on equipment purchases | $2,500,000 |
| Business expensing limit: New and Used Equipment and Software | $1,000,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2018 tax liability |
| Standard mileage rate for business driving | 54.5 cents |
| Standard mileage rate for medical driving | 18 cents |
| Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station | 18 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,050 |
| Maximum capital gains tax rate for taxpayers with income up to $38,600 for single filers, $77,200 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $38,600 for single filers, $77,200 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $425,800 for single filers, $479,000 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 |
$5,500 if under age 50 $6,500 if 50 or older |
| Maximum employee contribution to SIMPLE IRA |
$12,500 if under age 50 $15,500 if 50 or older |
| Maximum Contribution to SEP IRA |
25% of eligible compensation up to $55,000 |
| 401(k) maximum employee contribution limit |
$18,500 if under age 50 $24,500 if 50 or older |
| Estate tax exemption | $11,180,000 |
| Annual Exclusion for Gifts | $15,000 |
| Education | 2018 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
| Source: IRS |
| Standard Meal Rates for Family Child Care Providers for 2018 income tax returns | |
| Continental U.S. | 2018-19 Tax Rates |
| For each breakfast | $1.31 |
| For each lunch or supper | $2.46 |
| For each snack (up to 3 per day for each child) | $0.73 |
| Alaska | 2018-19 Tax Rates |
| For each breakfast | $2.09 |
| For each lunch or supper | $3.99 |
| For each snack (up to 3 per day for each child) | $1.19 |
| Hawaii | 2018-19 Tax Rates |
| For each breakfast | $1.53 |
| For each lunch or supper | $2.88 |
| For each snack (up to 3 per day for each child) | $0.86 |
| Source: Federal Register | |