Federal Income Tax Brackets and Rates
| Tax Rate | For Single Filers | For Married Inviduals | For Heads of Households |
|---|---|---|---|
10% |
$0 to $11,600 |
$0 to $23,200 |
$0 to $16,550 |
12% |
$11,600 to $47,150 |
$23,200 to $94,300 |
$16,550 to $63,100 |
22% |
$47,150 to $100,525 |
$94,300 to $201,050 |
$63,100 to $100,500 |
24% |
$100,525 to $191,950 |
$201,050 to $383,900 |
$100,500 to $191,950 |
32% |
$191,950 to $243,725 |
$383,900 to $487,450 |
$191,950 to $243,700 |
35% |
$243,725 to $609,350 |
$487,450 to $731,200 |
$243,700 to $690,350 |
37% |
$690,350 or more |
$731,200 or more |
$690,350 or more |
Estates & Trusts
| Tax Rate | Taxable Income |
|---|---|
10% |
$0 to $3,100 |
24% |
$3,100 to $11,150 |
35% |
$11,150 to $15,200 |
37% |
$15,200 or more |
Standard Deduction
| Filing Status | Deduction Amount |
|---|---|
Single |
$14,600 |
Married Filing Jointly |
$29,200 |
Head of Household |
$21,900 |
| Additional Deduction for over 65 or Blind | |
|---|---|
Single |
$1,150 |
Married |
$1,950 |
Capital Gains Tax Bracket
| For Unmarried Individuals, Taxable Income Over | For Married Individuals Filing Joint Returns, Taxable Income Over | For Heads of Households, Taxable Income Over | Estates & Trusts | |
|---|---|---|---|---|
0% |
$0 |
$0 |
$0 |
$0 |
15% |
$47,025 |
$94,050 |
$63,000 |
$3,150 |
20% |
$518,900 |
$583,750 |
$551,350 |
$15,450 |
| Retirement Plan Limits | |
|---|---|
IRA Contributions (Roth & Traditional) | |
Annual Limit |
$7,000 |
Catch-Up Contributions (ages 50+) |
$1,000 |
| 401k, 403b, Profit Sharing Plans | |
|---|---|
Annual Limit |
$23,000 |
Catch-Up Contributions (ages 50+) |
$7,500 |
| IRA Deduction Phase-Out | Starts | Ends |
|---|---|---|
Married Filing Joint |
$123,000 |
$143,000 |
Married Filing Separate* |
– |
$10,000 |
Single/Head of Household |
$77,000 |
$87,000 |
| Roth IRA Deduction Phase-Out | Starts | Ends |
|---|---|---|
Married Filing Joint |
$230,000 |
$240,000 |
Married Filing Separate* |
– |
$10,000 |
All Others |
$146,000 |
$161,000 |
*Married Filing Separate can use limits for “All Others” if they have not lived with their spouse in the past year.
| HSA Contribution Limits | |
|---|---|
Self-Only |
$4,150 |
Family |
$8,300 |
Catch-Up Contributions (ages 50+) |
$1,000 |
| Standard Mileage Rates | |
|---|---|
Business |
67 cents/mile |
Charitable |
14 cents/mile |
Medical |
21 cents/mile |
| Annual Gifting Exclusion |
|---|
$18,000 |