Tax Rates
Tax rates change every year. Take a look at this year’s tax rates.
2023 Tax Rates - Single Taxpayers - Standard Deduction $13,850
10%
12%
22%
24%
32%
35%
37%
0 to $11,000
$11,000 to $44,725
$44,725 to $95,375
$95,375 to $182,100
$182,100 to $231,250
$231,250 to $578,125
Over $578,125
2023 Tax Rates - Married Jointly & Surviving Spouses - Standard Deduction $27,700
10%
12%
22%
24%
32%
35%
37%
0 to $22,000
$22,000 to $89,450
$89,450 to $190,750
$190,750 to $364,200
$364,200 to $462,500
$462,500 to $693,750
Over $693,750
2023 Tax Rates - Married Filing Separately - Standard Deduction $13,850
10%
12%
22%
24%
32%
35%
37%
0 to $11,000
$11,000 to $44,725
$44,725 to $95,375
$95,375 to $182,100
$182,100 to $231,250
$231,250 to $346,875
Over $346,875
2023 Tax Rates - Head of Household - Standard Deduction $20,800
10%
12%
22%
24%
32%
35%
37%
0 to $15,700
$15,700 to $59,850
$59,850 to $95,350
$95,350 to $182,100
$182,100 to $231,250
$231,250 to $578,100
Over $578,100
2023 Tax Rates - Estates & Trusts
10%
24%
35%
37%
0 to $2,900
$2,900 to $10,550
$10,550 to $14,450
Over $14,450
Social Security
Social Security Tax Rate: Employers
Social Security Tax Rate: Employees
Social Security Tax Rate: Self-Employed
Maximum Taxable Earnings
Medicare Base Salary
Medicare Tax Rate: Employers
Medicare Tax Rate: Employees
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers)
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers)
2023 Tax Rates
6.20%
6.20%
15.30%
$160,200
Unlimited
1.45%
1.45%
0.90%
3.80%
Miscellaneous
Business expensing limit: Cap on equipment purchases
Business expensing limit: New and Used Equipment and Software
Qualified Business Income threshold amount:
Qualified Small Employer Health Reimbursement Arrangement limit:
Prior-year safe harbor for estimated taxes of higher-income
Standard mileage rate for business driving
Standard mileage rate for medical driving
Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station
Standard mileage rate for charitable driving
Child Tax Credit
Unearned income maximum for children under 19 before kiddie tax applies
Maximum capital gains tax rate for taxpayers with income up to $44,625 for single filers, $89,250 for married filing jointly
Maximum capital gains tax rate for taxpayers with income $44,625 to $492,300 for single filers, $89,250 to $553,850 for married filing jointly
Maximum capital gains tax rate for taxpayers with income above $492,300 for single filers, $553,850 for married filing jointly
Capital gains tax rate for unrecaptured Sec. 1250 gains
Capital gains tax rate on collectibles
Maximum contribution for Traditional/Roth IRA
Maximum employee contribution to SIMPLE IRA
Maximum Contribution to SEP IRA
401(k) maximum employee contribution limit
Estate tax exemption
Annual Exclusion for Gifts
2023 Tax Rates
$2,890,000
$1,160,000
$182,100 (single and head of household); $364,200 (married filing joint return)
$5,850 (single coverage); $11,800 (family coverage)
110% of your 2022 tax liability
65.5
22
22
14
$2,000
$1,250
0%
15%
20%
25%
28%
"$6,500 if under age 50 | $7,500 if 50 or older"
"$15,500 if under age 50 | $19,000 if 50 or older"
"25% of eligible compensation up to $66,000"
"$22,500 if under age 50 | $30,000 if 50 or older"
$12,920,000
$17,000
Miscellaneous
Business expensing limit: Cap on equipment purchases
Business expensing limit: New and Used Equipment and Software
Qualified Business Income threshold amount:
Qualified Small Employer Health Reimbursement Arrangement limit:
Prior-year safe harbor for estimated taxes of higher-income
Standard mileage rate for business driving
Standard mileage rate for medical driving
Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station
Standard mileage rate for charitable driving
Child Tax Credit
Unearned income maximum for children under 19 before kiddie tax applies
Maximum capital gains tax rate for taxpayers with income up to $44,625 for single filers, $89,250 for married filing jointly
Maximum capital gains tax rate for taxpayers with income $44,625 to $492,300 for single filers, $89,250 to $553,850 for married filing jointly
Maximum capital gains tax rate for taxpayers with income above $492,300 for single filers, $553,850 for married filing jointly
Capital gains tax rate for unrecaptured Sec. 1250 gains
Capital gains tax rate on collectibles
Maximum contribution for Traditional/Roth IRA
Maximum employee contribution to SIMPLE IRA
Maximum Contribution to SEP IRA
401(k) maximum employee contribution limit
Estate tax exemption
Annual Exclusion for Gifts
2023 Tax Rates
$2,890,000
$1,160,000
$182,100 (single and head of household); $364,200 (married filing joint return)
$5,850 (single coverage); $11,800 (family coverage)
110% of your 2022 tax liability
65.5
22
22
14
$2,000
$1,250
0%
15%
20%
25%
28%
"$6,500 if under age 50 | $7,500 if 50 or older"
"$15,500 if under age 50 | $19,000 if 50 or older"
"25% of eligible compensation up to $66,000"
"$22,500 if under age 50 | $30,000 if 50 or older"
$12,920,000
$17,000
Education
American Opportunity Credit (per student)
Lifetime Learning Credit (per return)
Student Loan Interest Deduction
Coverdell Education Savings Account Contribution
Source: IRS Revenue Procedure 2022-38
2023 Tax Rates
$2,500
$2,000
$2,500
$2,000
Standard Meal Rates for Family Child Care Providers for income tax returns
Continental U.S.
For each breakfast
For each lunch or supper
For each snack (up to 3 per day for each child)
2022-23 Tax Rates (July 1, 2022-June 30, 2023)
$2
$3
$0.97
Alaska
For each breakfast
For each lunch or supper
For each snack (up to 3 per day for each child)
2022-23 Tax Rates (July 1, 2022-June 30, 2023)
$3
$5
$1.52
Hawaii
For each breakfast
For each lunch or supper
For each snack (up to 3 per day for each child)
Source: Federal Register
2022-23 Tax Rates (July 1, 2022-June 30, 2023)
$2
$4
$1.12