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Updated for Tax Year 2022 • October 19, 2022 01:57 PM OVERVIEW These tax rate schedules are provided to help you estimate your 2022 federal income tax. TurboTax will apply these rates as you complete your tax return. Use the tables below to find your 2022 and 2023 tax brackets. 2022 Tax Brackets and Tax Rates (for filing in 2023)Single
Married Filing Jointly or Qualifying Widow (Widower)
Married Filing Separately
Head of Household
2023 Tax Brackets and Tax Rates (for filing in 2024)Single
Married Filing Jointly or Qualifying Widow (Widower)
Married Filing Separately
Head of Household
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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business. What are the US tax brackets for 2022?For the 2022 tax year, there are seven federal tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your tax bracket is determined by your filing status and taxable income.
What is the standard deduction for a couple filing jointly in 2022?The standard deduction is a specific dollar amount that reduces your taxable income. For the 2022 tax year, the standard deduction is $25,900 for joint filers, $19,400 for heads of household, and $12,950 for single filers and those married filing separately.
What is the 2022 standard deduction?2022 Standard Deductions
$12,950 for single filers. $12,950 for married couples filing separately. $19,400 for heads of households. $25,900 for married couples filing jointly.
How can I lower my tax bracket?Contribute to a Retirement Account.. Open a Health Savings Account.. Check for Flexible Spending Accounts at Work.. Use Your Side Hustle to Claim Business Deductions.. Claim a Home Office Deduction.. Rent Out Your Home for Business Meetings.. Write Off Business Travel Expenses, Even While on Vacation.. |