2022 Tax Rates – Single Taxpayers – Standard Deduction $12,950 2021 Rates
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 above $41,675 for single filers, $83,350 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