TAX TOOLS ► TAX RATES

2021 Tax Rates Schedule X – Single

If taxable income is over

But not over

The tax is

$0$9,95010% 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
$523,600no limit$157,804.25 plus 37% of the excess over $523,600

2021 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0$19,90010% 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
$628,300no limit$168,993.50 plus 37% of the excess over $628,300

2021 Tax Rates Schedule Y-2 – Married Filing Separately

If taxable income is over

But not over

The tax is

$0$9,95010% 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
$314,150no limit$84,496.75 plus 37% of the excess over $314,150

2021 Tax Rates Schedule Z – Head of Household

If taxable income is over

But not over

The tax is

$0$14,20010% 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
$523,600no limit$156,355 plus 37% of the excess over $523,600

2021 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0$2,65010% 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
$13,050no limit$3,146 plus 37% of the excess over $13,050

Social Security 2021 Tax Rates

Base Salary$142,800
Social Security Tax Rate6.20%
Maximum Social Security Tax$8,853.60
Medicare Base Salaryunlimited
Medicare Tax Rate1.45%

Additional Medicare 2021 Tax Rates

Additional Medicare Tax0.90%
Filing statusCompensation 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

Education 2021 Credit and Deduction Limits

American Opportunity Tax Credit (Hope)$2,500
Lifetime Learning Credit$2,000
Student Loan Interest Deduction$2,500
Coverdell Education Savings Contribution$2,000

Miscellaneous 2021 Tax Rates

Standard Deduction:
  • Married filing jointly or Qualifying Widow(er)
$25,100
  • Head of household
$18,800
  • Single or Married filling separately
$12,550
Business Equipment Expense Deduction$1,050,000
Prior-year safe harbor for estimated taxes of higher-income110% of your 2020 tax liability
Standard mileage rate for business driving56 cents
Standard mileage rate for medical/moving driving16 cents
Standard mileage rate for charitable driving14 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 trusts0%
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 trusts15%
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 trusts20%
Long-term gain attributable to certain depreciation recapture25%
Capital gains tax rate on collectibles and qualified small business stock28%
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 IRA25% 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 deduction100%
Estate tax exemption$11,700,000
Annual Exclusion for Gifts$15,000
Foreign Earned Income Exclusion$108,700

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