Tax rates change every year. Take a look at the tax rates for 2022.
Federal Income Tax Rates
Single:
| Tax rate | Taxable income bracket | Tax |
|---|---|---|
| 10% | $0 to $10,275 | 10% of taxable income |
| 12% | $10,276 to $41,775 | $1,027.50 plus 12% of the amount over $10,275 |
| 22% | $41,776 to $89,075 | $4,807.50 plus 22% of the amount over $41,775 |
| 24% | $89,076 to $170,050 | $15,213.50 plus 24% of the amount over $89,075 |
| 32% | $170,051 to $215,950 | $34,647.50 plus 32% of the amount over $170,050 |
| 35% | $215,950 to $539,900 | $49,335.50 plus 35% of the amount over $215,950 |
| 37% | $539,901 or more | $162,718 plus 37% of the amount over $539,900 |
Married Filing Jointly or Qualifying Widow(er):
| Tax rate | Taxable income bracket | Tax |
|---|---|---|
| 10% | $0 to $20,550 | 10% of taxable income |
| 12% | $20,551 to $83,550 | $2,055 plus 12% of the amount over $20,550 |
| 22% | $83,551 to $178,150 | $9,615 plus 22% of the amount over $83,550 |
| 24% | $178,151 to $340,100 | $30,427 plus 24% of the amount over $178,150 |
| 32% | $340,101 to $431,900 | $69,295 plus 32% of the amount over $340,100 |
| 35% | $431,901 to $647,850 | $98,671 plus 35% of the amount over $431,900 |
| 37% | $647,851 or more | $174,253.50 plus 37% of the amount over $647,850 |
Married Filing Separately:
| Tax rate | Taxable income bracket | Tax |
|---|---|---|
| 10% | $0 to $10,275 | 10% of taxable income |
| 12% | $10,276 to $41,775 | $1,027.50 plus 12% of the amount over $10,275 |
| 22% | $41,776 to $89,075 | $4,807.50 plus 22% of the amount over $41,775 |
| 24% | $89,076 to $170,050 | $15,213.50 plus 24% of the amount over $89,075 |
| 32% | $170,051 to $215,950 | $34,647.50 plus 32% of the amount over $170,050 |
| 35% | $215,950 to $323,925 | $49,335.50 plus 35% of the amount over $215,950 |
| 37% | $323,926 or more | $86,127 plus 37% of the amount over $323,925 |
Head of Household:
| Tax rate | Taxable income bracket | Tax |
|---|---|---|
| 10% | $0 to $14,650 | 10% of taxable income |
| 12% | $14,651 to $55,900 | $1,465 plus 12% of the amount over $14,650 |
| 22% | $55,901 to $89,050 | $6,415 plus 22% of the amount over $55,900 |
| 24% | $89,051 to $170,050 | $13,708 plus 24% of the amount over $89,050 |
| 32% | $170,051 to $215,950 | $33,148.50 plus 32% of the amount over $170,050 |
| 35% | $215,951 to $539,900 | $47,836.50 plus 35% of the amount over $215,950 |
| 37% | $539,901 or more | $162,218.50 plus 37% of the amount over $539,900 |
Unearned Income of a Minor Child (the “Kiddie Tax”) –
The kiddie tax applies to children under 19 or dependent full-time college students under 24 with unearned income in excess of $2,300 (for tax year 2022). The first $1,150 of a child’s unearned income qualifies for the standard deduction. The next $1,150 is taxed at the child’s income tax rate. Unearned income beyond $2,300 is taxed at the parent’s normal tax bracket.
Estates and Trusts
| Tax rate | Taxable income bracket | Tax |
| 10% | $0 to $2,750 | 10% of taxable income |
| 24% | $2,751 to $9,850 | $275 plus 24% of the excess over $2,750 |
| 35% | $9,851 to $13,450 | $1,979 plus 35% of the excess over $9,850 |
| 37% | $13,451 or more | $3,239 plus 37% of the excess over $13,450 |
Social Security Tax Rates
| Maximum Income Subject to Social Security Tax | $147,000 | |
| Social Security Tax Rate | 6.2% | |
| Maximum Social Security Tax | $9,114.00 | |
Medicare Tax Rates
| Maximum Income Subject to Medicare Tax | Unlimited |
| Medicare Tax Rate | 1.45% |
| Additional Medicare Rate for High Earners: | 0.9% |
| For Annual Earned Income Over: | |
| Single | $200,000 |
| Married Filing Separately | $125,000 |
| Head of Household (with qualifying person) | $200,000 |
| Qualifying Widower (with dependent child) | $200,000 |
| Married Filing Jointly | $250,000 |
| Standard Deductions | |
| Single | $12,950 (up from $12,550 for 2021) |
| Married Filing Separately | $12,950 (up from $12,550 for 2021) |
| Married Filing Jointly | $25,900 (up from $25,100 for 2021) |
| Head of Household | $19,400 (up from $18,800 for 2021) |
| Dependent | cannot exceed the greater of |
| (1) $1,100, or | |
| (2) the sum of $400 and the individual’s earned income (cannot exceed the standard deduction for your filing status) |
Additional Standard Deduction for Older and Blind Taxpayers
The additional standard deduction for married taxpayers 65 or older or blind will be $1,400 (a total of $2,800 if both are 65 or older or blind) . For a single taxpayer or head of household who is 65 or older or blind, the additional standard deduction will be $1,750.
