2021 Tax Rates Schedule X - Single

If taxable income is over

But not over

The tax is

$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

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

$19,900

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

2021 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over

But not over

The tax is

$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

2021 Tax Rates Schedule Z - Head of Household

If taxable income is over

But not over

The tax is

$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

2021 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$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

Social Security 2021 Tax Rates

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 2021 Tax Rates

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

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-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