FEDERAL INCOME TAX BRACKETS FOR 2022
Single
Taxable Income Tax Rates
$0 - $10,275 10% of taxable income
$10,276 - $41,775 $1027.50 plus 12% of the amount over $10,275
$41,776 - $89,075 $4,807.50plus 22% of the amount over $41,775
$89,076 - $170,050 $15,213.50 plus 24% of the amount over $89,075
$170,051 - $215,950 $34,647.50 plus 32% of the amount over $170,050
$215,951 - $539,900 $49,335.50 plus 35% of the amount over $215,950
$539,901 or more $162,718.00 plus 37% of the amount over $539,900
Married Filing Jointly or Qualifying Widow(er)
Taxable Income Tax Rate
$0 - $20,550 10% of taxable income
$20,551 - $83,550 $2,055 plus 12% of the amount over $20,550
$83,551 - $178,150 $9,615 plus 22% of the amount over $83,550
$178,151 - $340,100 $30,427 plus 24% of the amount over $178,150
$340,101 - $431,900 $69,295 plus 32% of the amount over $340,100
$431,901 - $647,850 $98,671 plus 35% of the amount over $431,900
$647,851 or more $174,253.50 plus 37% of the amount over $647,850
Married Filing Separately
Taxable Income Tax Rate
$0 - $10,275 10% of taxable income
$10,276 - $41,775 $1027.50 plus 12% of the amount over $10,275
$41,776 - $89,075 $4,807.50 plus 22% of the amount over $41,775
$89,076 - $170,050 $15,213.50 plus 24% of the amount over $89,075
$170,051 - $215,950 $34,647.50 plus 32% of the amount over $170,050
$215,951 - $323,925 $49,335.50 plus 35% of the amount over $215,950
$323,926 or more $87,126.75 plus 37% of the amount over $323,925
Head of Household
Taxable Income Tax Rate
$0 - $14,650 10% of taxable income
$14,651 - $55,900 $1,465 plus 12% of the amount over $14,650
$55,901 - $89,050 $6,415 plus 22% of the amount over $55,900
$89,051 - $170,050 $13,708 plus 24% of the amount over $89,050
$170,051 - $215,950 $33,148 plus 32% of the amount over $170,050
$215,951 - $539,900 $47,836 plus 35% of the amount over $215,950
$539,901 or more $161,218.50 plus 37% of the amount over $539,900
I have been asked many times for advice on how to keep from jumping up to the next tax bracket. The understanding behind this is usually the misconception of how our progressive tax system works. What many people don't realize is that our federal income tax brackets reflect marginal rates, not a rate that is applied to your entire income. Here is a quick example based on current tax rates :
For a married couple filing jointly in 2022, the 10% bracket covers income from $0 to $20,550, from $20,551 to $83,550 the tax rate is 12%, and from $83,551 to $178,150 the tax rate is 22%.
EXAMPLE:
A married couple filing jointly with taxable income of $100,000 will be in the 22% tax bracket, but they won't pay 22% in federal income taxes on the full amount. They would pay 10% on the first $20,550 ($2,055), 12% on the next $63,000 ($7,560), and 22% on the last $16,450 ($3,619). This works out to $ 13,234.00 , an effective rate of 13.234%.
What is taxable income?
Taxable income is total income minus any adjustments equals Adjusted gross income, minus your standard deduction or itemized deduction - whichever is greater minus qualified business deduction equals your Federal taxable income.
For a married couple filing jointly in 2022, the 10% bracket covers income from $0 to $20,550, from $20,551 to $83,550 the tax rate is 12%, and from $83,551 to $178,150 the tax rate is 22%.
EXAMPLE:
A married couple filing jointly with taxable income of $100,000 will be in the 22% tax bracket, but they won't pay 22% in federal income taxes on the full amount. They would pay 10% on the first $20,550 ($2,055), 12% on the next $63,000 ($7,560), and 22% on the last $16,450 ($3,619). This works out to $ 13,234.00 , an effective rate of 13.234%.
What is taxable income?
Taxable income is total income minus any adjustments equals Adjusted gross income, minus your standard deduction or itemized deduction - whichever is greater minus qualified business deduction equals your Federal taxable income.
