Tax Info - 2021

Marginal Ordinary Income Tax Rates
Single
Rate Over To
10% 0 9,950
12% 9,950 40,525
22% 40,525 86,375
24% 86,375 164,925
32% 164,925 209,425
35% 209,425 523,600
37% 523,600  
Head of Household
Rate  Over To 
10% 0 14,200
12% 14,200 54,200
22% 54,200 86,350
24% 86,350 164,900
32% 164,900 209,400
35% 209,400 523,600
37% 523,600  
Married Filing Jointly & Qualifying Widow(er)
Rate  Over To 
10% 0 19,900
12% 19,900 81,505
22% 81,050 172,750
24% 172,750 329,850
32% 329,850 418,850
35% 418,850 628,300
37% 628,300  
Married Filing Separately
Rate  Over To 
10% 0 9,950
12% 9,950 40,525
22% 40,525 86,375
24% 86,375 164,925
32% 164,925 209,425
35% 209,425 314,150
37% 314,150  
Standard Deduction
Filing Status
Amount
Single
$12,550
Head of Household
$18,800
Married Filing Joint/Qualifying Widow(er)
$25,100
Marrifed Filing Separate
$12,550
Additional Standard Deduction if Blink or Age 65+
Amount
Single
$1,700
Head of Household
$1,700
Married Filing Joint/Qualifying Widow(er)
$1,350
Marrifed Filing Separate
$1,350
Standard Deduction For Dependents
Amount
Regular Amount
$1,100
Maximum amount earned plus $350 up to allowed standard deduction based upon filing status
Personal Exemptions
For 2019-2025, the personal exemption has been suspended; personal exemption is $0.
Phaseout of Personal Exemptions
Filing Status
Phaseout Begins
Phaseout Ends
Married Filing Joint
N/A
N/A
Qualifying Widow(er)
N/A
N/A
Head of Household
N/A
N/A
Single
N/A
N/A
Married Filing Separately
N/A
N/A
Child Tax Credit
The child tax credit is $2,000 per qualifying child. The refundable portions (additional child tax credit) is $1,400. The credit begins to phase-out at modified adjusted income of $400,000 for married filing joint ( $200,000 for all others).
Capital Gains - Long Term and Short Term
Type of Asset
Short-Term Tax Rate
Long-Term Tax Rate
Net Investment Income Tax (NIIT)
Collectibles
Ordinary Tax Rates
28%
Potential 3.8%
Depreciation Recapture
Ordinary Tax Rates
25%
Potential 3.8%
Qualified Small Bus Stock
Ordinary Tax Rates
28% after exclusion
Potential 3.8%
Other Capital Assets
Ordinary Tax Rates
(See table below)
Potential 3.8%
LTCG Rate
0%
15%
20%
Single
$0-$40,400
$40,401-$445,850
$445,851+
MFJ
$0-$80,800
$80,801-$501,600
$501,601+
H of H
$0-$54,100
$54,101-$473,750
$473,751+
MFS
$0-$40,400
$40,401-$250,800
$250,801+