Tax Rates

2021 Federal Individual Income Tax Rates
Single Individuals:
Taxable Income
Over But Not Under Tax
$0 $9,950 10%
$9,951 $40,525 12%
$40,526 $86,375 22%
$86,376 $164,925 24%
$164,926 $209,425 32%
$209,426 $523,600 35%
$523,601 And Over 37%
Joint Returns and Surviving Spouses:
Taxable Income
Over But Not Under Tax
$0 $19,900 10%
$19,901 $81,050 12%
$81,051 $172,750 22%
$172,751 $329,850 24%
$329,851 $418,850 32%
$418,851 $628,300 35%
$628,301 And Over 37%
Heads of Households:
Taxable Income
Over But Not Under Tax
$0 $14,200 10%
$14,201 $54,200 12%
$54,201 $86,350 22%
$86,351 $164,900 24%
$164,901 $209,400 32%
$209,401 $523,600 35%
$523,601 And Over 37%
Married Filing Separately:
Taxable Income
Over But Not Under Tax
$0 $9,950 10%
$9,951 $40,525 12%
$40,526 $86,375 22%
$86,376 $164,925 24%
$164,926 $209,425 32%
$209,426 $314,150 35%
$314,151 And Over 37%


2021 Retirement Plan Contribution Limits
Plan Type Under Age 50 Over Age 50
401(k), 403(b), most 457, Salary Reduction SEP $19,500 $26,000
SIMPLE $13,500 $16,000
IRA (Traditional/Roth) $6,000 $7,000
Phase Outs Phase Out Range
Traditional IRA Deduction Phase Outs: Modified Adjustment Income
Married Filing Joint $198,000 $208,000
Married Filing Joint - One Spouse is Covered at Work $105,000 $125,000
Single Or Head of Household $66,000 $76,000
Married or Filing Separately $10,000
Roth IRA Contribution Phase Outs: Modified Adjustment Income
Married Filing Joint $198,000 $208,000
Single $125,000 $140,000
Employer-sponsored plans may have additional contribution limits. Not all employer plans allow the higher contributions amount for those aged 50 and older.The IRA limitation caps a person's combined contributions to traditional and Roth IRAs for the year.


2021 Alternate Minimum Tax (AMT) Exemptions
Unmarried Individuals $73,600
Married Filing Jointly $114,600
Married Filing Separatley $57,300
Trusts and Estates $25,700


2021 Individual Retirement Accounts (IRAs)
Participant of Employer Retirement Plan:
Filing Status Modifed AGI Deduction
Single or Head of Household $66,000 or less Full up to limit
$66,001 - $75,999 Partial
$76,000 or more No deduction
Joint or Surviving Spouse $198,000 or less Full up to limit
$198,001 - $208,000 Partial
$208,001 or more No deduction
Married Filing Separately less than $10,000 Partial
$10,000 or more No deduction
One Spouse Participates - One Does Not:
Filing Status Modified AGI Deduction
Married Filing Jointly $105,000 or less Full up to limit
$105,001 - $125,000 Partial
$125,001 or more No Deduction
Married Filing Separately less than $10,000 Partial
$10,000 or more No deduction
If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "Single" filing status.
2021 Retirement Plan Contribution Limits
Plan Type Under Age 50 Over Age 50
IRA (Traditional & Roth) $6,000 $7,000


2021 Standard Deduction and Itemized
Standard Deduction
Single $12,550
Married Filing Jointly $25,100
Head of Household $18,800
Married Filing Separately $12,550
Additional Amount for Aged or Blind
Single $1,700
Married Filing Jointly $1,350
Standard Deduction for Dependent
Minimum $1,100
Or Earned income plus $350


2021 Long-term Capital Gains
Single
Income Long-term Capital Gains Rate
$0 - $40,400 0%
$40,401 - $445,850 15%
$445,851 or more 20%
Married filing jointly
Income Long-term Capital Gains Rate
$0 - $80,800 0%
$80,801 - $501,600 15%
$501,601 or more 20%
Head of household
Income Long-term Capital Gains Rate
$0 - $54,100 0%
$54,101 - $473,750 15%
$473,751 or more 20%
Married filing separately
Income Long-term Capital Gains Rate
$0 - $40,400 0%
$40,401 - $250,800 15%
$250,801 or more 20%

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