Tax Rates

$0

$9,950

10% of the taxable amount

$9,950

$40,525

$995 plus 12% of the excess over $9,950

$40,525

$86,375

$4,664 plus 22% of the excess over $40,525

$86,375

$164,925

$14,751 plus 24% of the excess over $86,375

$164,925

$209,425

$33,603 plus 32% of the excess over $164,925

$209,425

$523,600

$47,843 plus 35% of the excess over $209,425

$523,600

no limit

$157,804.25 plus 37% of the excess over $523,600

$0

$19,900

10% of the taxable amount

$19,990

$81,050

$1,990 plus 12% of the excess over $19,990

$81,050

$172,750

$9,328 plus 22% of the excess over $81,050

$172,750

$329,850

$29,502 plus 24% of the excess over $172,750

$329,850

$418,850

$67,206 plus 32% of the excess over $329,850

$418,850

$628,300

$95,686 plus 35% of the excess over $418,850

$628,300

no limit

$168,993.50 plus 37% of the excess over $628,300

$0

$9,950

10% of the taxable amount

$9,950

$40,525

$995 plus 12% of the excess over $9,950

$40,525

$86,375

$4,664 plus 22% of the excess over $40,525

$86,375

$164,925

$14,751 plus 24% of the excess over $86,375

$164,925

$209,425

$33,603 plus 32% of the excess over $164,925

$209,425

$314,150

$47,843 plus 35% of the excess over $209,425

$314,150

no limit

$84,496.75 plus 37% of the excess over $314,150

$0

$14,200

10% of the taxable amount

$14,200

$54,200

$1,420 plus 12% of the excess over $14,200

$54,200

$86,350

$6,220 plus 22% of the excess over $54,200

$86,350

$164,900

$13,293 plus 24% of the excess over $86,350

$164,900

$209,400

$32,145 plus 32% of the excess over $164,900

$209,400

$523,600

$46,385 plus 35% of the excess over $209,400

$523,600

no limit

$156,355 plus 37% of the excess over $523,600

$0

$2,650

10% of the taxable income

$2,650

$9,550

$265 plus 24% of the excess over $2,650

$9,550

$13,050

$1,921 plus 35% of the excess over $9,550

$13,050

no limit

$3,146 plus 37% of the excess over $13,050

Base Salary

$142,800

Social Security Tax Rate

6.20%

Maximum Social Security Tax

$8,853.60

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)

$25,100

• Head of household

$18,800

• Single or Married filing separately

$12,550

Business Equipment Expense Deduction

$1,050,000

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/moving driving

16 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 $80,800 for joint filers and surviving spouses, $54,100 for heads of household, $40,400 for single filers, $40,400 for married taxpayers filing separately, and $2,700 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 $501,600 for joint filers and surviving spouses, $473,750 for heads of household, $445,850 for single filers, $250,800 for married taxpayers filing separately, and $13,250 for estates and trusts

15%

Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $501,600 for joint filers and surviving spouses, $473,750 for heads of household, $445,850 for single filers, $250,800 for married taxpayers filing separately, and $13,250 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

$6,000 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 compensation up to $58,000

401(k) maximum employee contribution limit

$19,500 if under age 50
$26,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$11,700,000

Annual Exclusion for Gifts

$15,000

Foreign Earned Income Exclusion

$108,700

$0

$9,875

10% of the taxable amount

$9,875

$40,125

$987.50 plus 12% of the excess over $9,875

$40,125

$85,525

$4,617.50 plus 22% of the excess over $40,125

$85,525

$163,300

$14,605.50 plus 24% of the excess over $85,525

$163,300

$207,350

$33,271.50 plus 32% of the excess over $163,300

$207,350

$518,400

$47,367.50 plus 35% of the excess over $207,350

$518,400

no limit

$156,235.00 plus 37% of the excess over $518,400

$0

$19,750

10% of the taxable amount

$19,750

$80,250

$1,975.00 plus 12% of the excess over $19,750

$80,250

$171,050

$9,235.00 plus 22% of the excess over $80,250

$171,050

$326,600

$29,211.00 plus 24% of the excess over $171,050

$326,600

$414,700

$66,543.00 plus 32% of the excess over $326,600

$414,700

$622,050

$94,735.00 plus 35% of the excess over $414,700

$622,050

no limit

$167,307.50 plus 37% of the excess over $622,050

$0

$9,875

10% of the taxable amount

$9,875

$40,125

$987.50 plus 12% of the excess over $9,875

$40,125

$85,525

$4,617.50 plus 22% of the excess over $40,125

$85,525

$163,300

$14,605.50 plus 24% of the excess over $85,525

$163,300

$207,350

$33,271.50 plus 32% of the excess over $163,300

$207,350

$311,025

$47,367.50 plus 35% of the excess over $207,350

$311,025

no limit

$83,653.75 plus 37% of the excess over $311,025

$0

$14,100

10% of the taxable amount

$14,100

$53,700

$1,410.00 plus 12% of the excess over $14,100

$53,700

$85,500

$6,162.00 plus 22% of the excess over $53,700

$85,500

$163,300

$13,158.00 plus 24% of the excess over $85,500

$163,300

$207,350

$31,830.00 plus 32% of the excess over $163,300

$207,350

$518,400

$45,926.00 plus 35% of the excess over $207,350

$518,400

no limit

$154,793.50 plus 37% of the excess over $518,400

$0

$2,600

10% of the taxable income

$2,600

$9,450

$260.00 plus 24% of the excess over $2,600

$9,450

$12,950

$1,904.00 plus 35% of the excess over $9,450

$12,950

no limit

$3,129.00 plus 37% of the excess over $12,950

Base Salary

$137,700

Social Security Tax Rate

6.20%

Maximum Social Security Tax

$8,537.40

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)

$24,800

• Head of household

$18,650

• Single or Married filing separately

$12,400

Business Equipment Expense Deduction

$1,040,000

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/moving driving

17 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 $80,000 for joint filers and surviving spouses, $53,600 for heads of household, $40,000 for single filers, $40,000 for married taxpayers filing separately, and $2,650 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 $496,600 for joint filers and surviving spouses, $469,050 for heads of household, $441,450 for single filers, $248,300 for married taxpayers filing separately, and $13,150 for estates and trusts

15%

Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $496,600 for joint filers and surviving spouses, $469,050 for heads of household, $441,450 for single filers, $248,300 for married taxpayers filing separately, and $13,150 for estates and trusts

20%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles and qualified small business stock

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 compensation up to $57,000

401(k) maximum employee contribution limit

$19,500 if under age 50
$26,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$11,580,000

Annual Exclusion for Gifts

$15,000

Foreign Earned Income Exclusion

$107,600

$0

$9,700

10% of the taxable amount

$9,700

$39,475

$970.00 plus 12% of the excess over $9,700

$39,475

$84,200

$4,543.00 plus 22% of the excess over $39,475

$84,200

$160,725

$14,382.50 plus 24% of the excess over $84,200

$160,725

$204,100

$32,748.50 plus 32% of the excess over $160,725

$204,100

$510,300

$46,628.50 plus 35% of the excess over $204,100

$510,300

no limit

$153,798.50 plus 37% of the excess over $510,300

$0

$19,400

10% of the taxable amount

$19,400

$78,950

$1,940.00 plus 12% of the excess over $19,400

$78,950

$168,400

$9,086.00 plus 22% of the excess over $78,950

$168,400

$321,450

$28,765.00 plus 24% of the excess over $168,400

$321,450

$408,200

$65,497.00 plus 32% of the excess over $321,450

$408,200

$612,350

$164,709.50 plus 35% of the excess over $408,200

$612,350

no limit

$153,798.50 plus 37% of the excess over $612,350

$0

$9,700

10% of the taxable amount

$9,700

$39,475

$970.00 plus 12% of the excess over $9,700

$39,475

$84,200

$4,543.00 plus 22% of the excess over $39,475

$84,200

$160,725

$14,382.50 plus 24% of the excess over $84,200

$160,725

$204,100

$32,748.50 plus 32% of the excess over $160,725

$204,100

$306,175

$46,628.50 plus 35% of the excess over $204,100

$306,175

no limit

$82,354.75 plus 37% of the excess over $306,175

$0

$13,850

10% of the taxable amount

$13,850

$52,850

$1,385.00 plus 12% of the excess over $13,850

$52,850

$84,200

$6,065.00 plus 22% of the excess over $52,850

$84,200

$160,700

$12,962.00 plus 24% of the excess over $84,200

$160,700

$204,100

$31,322.00 plus 32% of the excess over $160,700

$204,100

$510,300

$45,210.00 plus 35% of the excess over $204,100

$510,300

no limit

$152,380.00 plus 37% of the excess over $510,300

$0

$2,600

10% of the taxable income

$2,600

$9,300

$260.00 plus 24% of the excess over $2,600

$9,300

$12,750

$1,868.00 plus 35% of the excess over $9,300

$12,750

no limit

$3,075.50 plus 37% of the excess over $12,750

Base Salary

$132,900

Social Security Tax Rate

6.20%

Maximum Social Security Tax

$8,239.80

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)

$24,400

• Head of household

$18,350

• Single or Married filing separately

$12,200

Business Equipment Expense Deduction

$1,020,000

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/moving driving

20 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 $78,750 for joint filers and surviving spouses, $52,750 for heads of household, $39,375 for single filers, $39,375 for married taxpayers filing separately, and $2,650 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 $488,850 for joint filers and surviving spouses, $461,700 for heads of household, $434,550 for single filers, $244,425 for married taxpayers filing separately, and $12,950 for estates and trusts

15%

Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $488,850 for joint filers and surviving spouses, $461,700 for heads of household, $434,550 for single filers, $244,425 for married taxpayers filing separately, and $12,950 for estates and trusts

20%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles and qualified small business stock

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 compensation up to $55,000

401(k) maximum employee contribution limit

$19,000 if under age 50
$25,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$11,400,000

Annual Exclusion for Gifts

$15,000

Foreign Earned Income Exclusion

$105,900

$0

$9,525

10% of the taxable amount

$9,525

$38,700

$952.50 plus 12% of the excess over $9,525

$38,700

$82,500

$4,453.50 plus 22% of the excess over $38,700

$82,500

$157,500

$14,089.50 plus 24% of the excess over $82,500

$157,500

$200,000

$32,089.50 plus 32% of the excess over $157,500

$200,000

$500,000

$45,689.50 plus 35% of the excess over $200,000

Over $500,000

no limit

$150,689.50 plus 37% of the excess over $500,000

$0

$19,050

10% of the taxable amount

$19,050

$77,400

$1,905 plus 12% of the excess over $19,050

$77,400

$165,000

$8,907 plus 22% of the excess over $77,400

$165,000

$315,000

$28,179 plus 24% of the excess over $165,000

$315,000

$400,000

$64,179 plus 32% of the excess over $315,000

$400,000

$600,000

$91,379 plus 35% of the excess over $400,000

$600,000

no limit

$161,379 plus 37% of the excess over $600,000

$0

$9,525

10% of the taxable amount

$9,525

$38,700

$952.50 plus 12% of the excess over $9,525

$38,700

$82,500

$4,453.50 plus 22% of the excess over $38,700

$82,500

$157,500

$14,089.50 plus 24% of the excess over $82,500

$157,500

$200,000

$32,089.50 plus 32% of the excess over $157,500

$200,000

$300,000

$45,689.50 plus 35% of the excess over $200,000

Over $300,000

no limit

$80,689.50 plus 37% of the excess over $300,000

$0

$13,600

10% of the taxable amount

$13,600

$51,800

$1,360 plus 12% of the excess over $13,600

$51,800

$82,500

$5,944 plus 22% of the excess over $51,800

$82,500

$157,500

$12,698 plus 24% of the excess over $82,500

$157,500

$200,000

$30,698 plus 32% of the excess over $157,500

$200,000

$500,000

$44,298 plus 35% of the excess over $200,000

$500,000

no limit

$149,298 plus 37% of the excess over $500,000

$0

$2,550

10% of the taxable income

$2,550

$9,150

$255 plus 24% of the excess over $2,550

$9,150

$12,500

$1,839 plus 35% of the excess over $9,150

$12,500

no limit

$3,011.50 plus 37% of the excess over $12,500

Base Salary

$128,400

Social Security Tax Rate

6.2%

Maximum Social Security Tax

$7,960.80

Medicare Base Salary

unlimited

Medicare Tax Rate

1.45%

Additional Medicare Tax

0.9%

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)

$24,000

• Head of household

$18,000

• Single or Married filing separately

$12,000

Business Equipment Expense Deduction

$1,000,000

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

110% of your 2017 tax liability

Standard mileage rate for business driving

54.5 cents

Standard mileage rate for medical/moving driving

18 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 $77,200 for joint filers and surviving spouses, $51,700 for heads of household, $38,600 for single filers, $38,600 for married taxpayers filing separately, and $2,600 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 $479,000 for joint filers and surviving spouses, $452,400 for heads of household, $425,800 for single filers, $239,500 for married taxpayers filing separately, and $12,700 for estates and trusts

15%

Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $479,000 for joint filers and surviving spouses, $452,400 for heads of household, $425,800 for single filers, $239,500 for married taxpayers filing separately, and $12,700 for estates and trusts

20%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles and qualified small business stock

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 compensation up to $55,000

401(k) maximum employee contribution limit

$18,500 if under age 50
$24,500 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$11,180,000

Annual Exclusion for Gifts

$15,000

Foreign Earned Income Exclusion

$104,100