2021 Tax Rates

Single Taxpayers

Standard Deduction $12,550

Tax Bracket

10%

12%

22%

24%

32%

35%

37%

Income

0 to $9,950

$9,950 to $40,525

$40,525 to $86,375

$86,375 to $164,925

$164,925 to $209,425

$209,425 to $523,600

Over $523,600

Married Filing Jointly & Surviving Spouses

Standard Deduction $25,100

Tax Bracket

10%

12%

22%

24%

32%

35%

37%

Income

0 to $19,900

$19,900 to $81,050

$81,050 to $172,750

$172,750 to $329,850

$329,850 to $418,850

$418,850 to $628,300

Over $628,300

Married Filing Separately

Standard Deduction $12,550

Tax Bracket

10%

12%

22%

24%

32%

35%

37%

Income

0 to $9,950

$9,950 to $40,525

$40,525 to $86,375

$86,375 to $164,925

$164,925 to $209,425

$209,425 to $314,150

Over $314,150

Head of Household

Standard Deduction $18,800

Tax Bracket

10%

12%

22%

24%

32%

35%

37%

Income

0 to $14,200

$14,200 to $54,200

$54,200 to $86,350

$86,350 to $164,900

$164,900 to $209,400

$209,400 to $523,600

Over $523,600

Estates & Trusts

Tax Bracket

10%

24%

35%

37%

Income

0 to $2,650

$2,650 to $9,550

$9,550 to $13,050

Over $13,050

Education

American Opportunity Credit (Hope)

Lifetime Learning Credit

Student Loan Interest Deduction

Coverdell Education Savings Contribution

$2,500

$2,000

$2,500

$2,000

Additional Rates

Business expensing limit: Cap on equipment purchases

Business expensing limit: New and Used Equipment and Software

Qualified Business Income threshold amount:

Qualified Small Employer Health Reimbursement Arrangement limit:

Prior-year safe harbor for estimated taxes of higher-income

Standard mileage rate for business driving

Standard mileage rate for medical driving

Standard mileage rate for moving - Members of the Armed Forces who move because of a permanent change of station

Standard mileage rate for charitable driving

Child Tax Credit

Unearned income maximum for children under 19 before kiddie tax applies

Maximum capital gains tax rate for taxpayers with income up to $40,400 for single filers, $80,800 for married filing jointly

Maximum capital gains tax rate for taxpayers with income above $40,400 for single filers, $80,800 for married filing jointly

Maximum capital gains tax rate for taxpayers with income above $445,850 for single filers, $501,600 for filing jointly

Capital gains tax rate for unrecaptured Sec. 1250 gains

Capital gains tax rate on collectibles

Maximum contribution for Traditional/Roth IRA

Maximum employee contribution to SIMPLE IRA

Maximum Contribution to SEP IRA

401(k) maximum employee contribution limit

Estate tax exemption

Annual Exclusion for Gifts

$2,620,000

$1,050,000

$164,925 (single and head of household); $329,800 (married filing joint)

$5,300 (single); $10,700 (family)

110% of your 2020 tax liability

56 cents

16 cents

16 cents

14 cents

$2,000

$1,100

0%

15%

20%

25%

28%

$6,000 if under age 50 / $7,000 if 50 or older

$13,500 if under age 50 / $16,500 if 50 or older

25% of eligible compensation / up to $58,000

$19,500 if under age 50 / $26,000 if 50 or older

$11,700,000

$15,000