2022 Federal
Tax Bracket
The Federal income tax has been broken into 7 tax brackets as seen below. In order to determine the amount of taxes you will depend on your filing status and income.
Just because you move into a higher tax bracket doesn’t automatically mean that your income will be taxed at a higher rate; only the income earned within a particular tax bracket is subject that specific rate.
Tax Bracket for Single Tax Filers
| Tax Rate | Taxable Income Bracket |
|---|---|
| 10% | Up to $10,275 |
| 12% | $10,276 to $41,775 |
| 22% | $41,776 to $89,075 |
| 24% | $89,076 to $170,050 |
| 32% | $170,051 to $215,950 |
| 35% | $215,951 to $539,900 |
| 37% | $539,901 and above |
Tax Bracket for Married Filing Jointly or Qualifying Widow
| Tax Rate | Taxable Income |
|---|---|
| 10% | $0 to $20,550 |
| 12% | $20,551 to $83,550 |
| 22% | $83,551 to $178,150 |
| 24% | $178,151 to $340,100 |
| 32% | $340,101 to $431,900 |
| 35% | $431,901 to $647,850 |
| 37% | $647,851 or more |
Married Filing Separately Tax Bracket
| Tax Rate | Taxable Income Bracket |
|---|---|
| 10% | $0 to $10,275 |
| 12% | $10,276 to $41,775 |
| 22% | $41,776 to $89,075 |
| 24% | $89,076 to $170,050 |
| 32% | $170,051 to $215,950 |
| 35% | $215,951 to $323,925 |
| 37% | $323,926 and above |
Head of Household Tax Bracket
| Tax Rate | Taxable Income Range |
|---|---|
| 10% | Up to $14,650 |
| 12% | $14,651 to $55,900 |
| 22% | $55,901 to $89,050 |
| 24% | $89,051 to $170,050 |
| 32% | $170,051 to $215,950 |
| 35% | $215,951 to $539,900 |
| 37% | $539,901 or more |
2018 Personal Exemption
You are allowed to claim one personal exemption for yourself and one for your spouse (if married). However, if somebody else can list you as a dependent on their tax return, you are not permitted to claim a personal exemption for yourself.
For tax year 2018, the personal exemption amount is $4,000 (up from $3,950 in 2017).
The personal exemption was eliminated for the 2018 tax year. The only way you to take an exemption is if you are filing an amended return for a prior year. If you have any questions, please give us a call.