$0

$11,000

10% of the taxable amount

$11,000

$44,725

$1,100.00 plus 12% of the excess over $11,000

$44,725

$95,375

$5,147.00 plus 22% of the excess over $44,725

$95,375

$182,100

$16,290.00 plus 24% of the excess over $95,375

$182,100

$231,250

$37,104.00 plus 32% of the excess over $182,100

$231,250

$578,125

$52,832.00 plus 35% of the excess over $231,250

$578,125

no limit

$174,238.25 plus 37% of the excess over $578,125

$0

$22,000

10% of the taxable amount

$22,000

$89,450

$2,200.00 plus 12% of the excess over $22,000

$89,450

$190,750

$10,294.00 plus 22% of the excess over $89,450

$190,750

$364,200

$32,580.00 plus 24% of the excess over $190,750

$364,200

$462,500

$74,208.00 plus 32% of the excess over $364,200

$462,500

$693,750

$105,664.00 plus 35% of the excess over $462,500

$693,750

no limit

$186,601.50 plus 37% of the excess over $693,750

$0

$11,000

10% of the taxable amount

$11,000

$44,725

$1,100.00 plus 12% of the excess over $11,000

$44,725

$95,375

$5,147.00 plus 22% of the excess over $44,725

$95,375

$182,100

$16,290.00 plus 24% of the excess over $95,375

$182,100

$231,250

$37,104.00 plus 32% of the excess over $182,100

$231,250

$346,875

$52,832.00 plus 35% of the excess over $231,250

$346,875

no limit

$93,300.75 plus 37% of the excess over $346,875

$0

$15,700

10% of the taxable amount

$15,700

$59,850

$1,570.00 plus 12% of the excess over $15,700

$59,850

$95,350

$6,868.00 plus 22% of the excess over $59,850

$95,350

$182,100

$14,678.00 plus 24% of the excess over $95,350

$182,100

$231,250

$35,498.00 plus 32% of the excess over $182,100

$231,250

$578,125

$51,226.00 plus 35% of the excess over $231,250

$578,125

no limit

$172,623.50 plus 37% of the excess over $578,125

$0

$2,900

10% of the taxable income

$2,900

$10,550

$290 plus 24% of the excess over $2,900

$10,550

$14,450

$2,126 plus 35% of the excess over $10,550

$14,450

no limit

$3,491 plus 37% of the excess over $14,450

Base Salary

$160,200

Social Security Tax Rate

6.20%

Maximum Social Security Tax

$9,932.40

Medicare Base Salary

unlimited

Medicare Tax Rate

1.45%

Additional Medicare Tax

0.90%

Filing status

Compensation over

Married filing jointly

$250,000

Married filing separate

$125,000

Single

$200,000

Head of household (with qualifying person)

$200,000

Qualifying widow(er) with dependent child

$200,000

American Opportunity Tax Credit (Hope)

$2,500

Lifetime Learning Credit

$2,000

Student Loan Interest Deduction

$2,500

Coverdell Education Savings Contribution

$2,000

Standard Deduction:

• Married filing jointly or Qualifying Widow(er)

$27,700

• Head of household

$20,800

• Single or Married filing separately

$13,850

Business Equipment Expense Deduction

$1,160,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2022 tax liability

Standard mileage rate for business driving

65.5 cents

Standard mileage rate for medical/moving driving

22 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$2,000 per qualifying child

Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $89,250 for joint filers and surviving spouses, $59,750 for heads of household, $44,625 for single filers, $44,625 for married taxpayers filing separately, and $3,000 for estates and trusts

0%

Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $553,850 for joint filers and surviving spouses, $523,050 for heads of household, $492,300 for single filers, $276,900 for married taxpayers filing separately, and $14,650 for estates and trusts

15%

Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $553,850 for joint filers and surviving spouses, $523,050 for heads of household, $492,300 for single filers, $276,900 for married taxpayers filing separately, and $14,650 for estates and trusts

20%

Long-term gain attributable to certain depreciation recapture

25%

Capital gains tax rate on collectibles and qualified small business stock

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 compensation up to $66,000

401(k) maximum employee contribution limit

$22,500 if under age 50
$30,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$12,920,000

Annual Exclusion for Gifts

$17,000

Foreign Earned Income Exclusion

$120,000