income tax rates

•Personal Exemptions Eliminated•

Personal and dependent exemptions are eliminated under the new TCJA from 2018 to 2025. You are not able to reduce the income that subjects to tax by the exemptions amount for each person included on your tax return as you have in previous years such as yourself, your spouse, or your dependents.

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•2023 Individual Income Tax Brackets•

2023 Individual Income Tax Brackets

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status. The top marginal income tax rate of 37 percent will hit taxpayers with a taxable income of $578,125 and higher for single filers and $63,750 and higher for married couples filing jointly.

Here are the 2023 tax rates and brackets organized by filing
status:

single, Married file jointly, heads of household

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•2023 Standard Deduction Amounts•

2023 Standard Deduction Amounts

There are 2 main types of tax deductions: the standard deduction and itemized deductions. You are allowed to claim one type of deduction on your tax return, but not both. For instance, if you claim the standard deduction, you cannot claim itemized deductions – and vice versa (if you itemized deductions, you cannot claim the standard deduction). You can use whichever type of deduction results in the lowest tax. Here are the standard deduction amounts by filing status:

The standard deduction for 2023 is $1,850 higher for those who are over 65 or blind. If someone can claim you as a dependent, you get a smaller standard deduction.

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•2023 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

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2024 Individual Income Tax Brackets

•2024 Individual Income Tax Brackets•

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status.

Here are the 2024 tax rates and brackets organized by filing
status:

single, Married file jointly, heads of household

Home

•2024 Standard Deduction Amounts

•2024 Standard Deduction Amounts•

There are 2 main types of tax deductions: the standard deduction and itemized deductions. You are allowed to claim one type of deduction on your tax return, but not both. For instance, if you claim the standard deduction, you cannot claim itemized deductions – and vice versa (if you itemized deductions, you cannot claim the standard deduction). You can use whichever type of deduction results in the lowest tax. Here are the standard deduction amounts by filing status:

Home

•2024 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

Home

2022 Individual Income Tax Brackets

•2022 Individual Income Tax Brackets•

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status.

Here are the 2022 tax rates and brackets organized by filing
status:

single, Married file jointly, heads of household

Home

•2022 Standard Deduction Amounts•

There are 2 main types of tax deductions: the standard deduction and itemized deductions. You are allowed to claim one type of deduction on your tax return, but not both. For instance, if you claim the standard deduction, you cannot claim itemized deductions – and vice versa (if you itemized deductions, you cannot claim the standard deduction). You can use whichever type of deduction results in the lowest tax. Here are the standard deduction amounts by filing status:

The standard deduction is $1,400 higher for those who are over
65 or blind. It is $1,750 higher if they're also unmarried and not a surviving spouse. If someone can claim you as a dependent, you get a smaller standard deduction.

Home

•2022 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

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CA 2023 State Income Tax bracket

•2023 ca tax brackets

California state income tax rates are 1%, 2%, 4%, 6%, 8%, 9.3%, 10.3%, 11.3% and 12.3%. Mental Health Services tax rate is 1% for taxable income in excess of $1,000,000

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NY 2023 State Income Tax bracket

•2023 NY tax brackets

New York state income tax rates are 4%, 4.5%, 5.25%, 5.85%, 6.25%, 6.85%, 9.65%, 10.3% and 10.9%.
New York City and Yonkers have their own local income tax on top of the state tax. New York City income tax rates are 3.078%, 3.762%, 3.819% and 3.876%.

Home

Christine Lo

Tax & Accounting Service

income tax rates

•Personal Exemptions Eliminated•

Personal and dependent exemptions are eliminated under the new TCJA from 2018 to 2025. You are not able to reduce the income that subjects to tax by the exemptions amount for each person included on your tax return as you have in previous years such as yourself, your spouse, or your dependents.

•2023 Individual Income Tax Brackets•

Here are the 2023 tax rates and brackets organized by filing
status:

•2023 Standard Deduction Amounts•

The standard deduction for 2023 is $1,850 higher for those who are over 65 or blind. If someone can claim you as a dependent, you get a smaller standard deduction.

•2023 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

•2024 Individual Income Tax Brackets•

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status.

Here are the 2024 tax rates and brackets organized by filing
status:

•2024 Standard Deduction Amounts•

•2024 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

•2022 Individual Income Tax Brackets•

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status.

Here are the 2022 tax rates and brackets organized by filing
status:

•2022 Standard Deduction Amounts•

The standard deduction is $1,400 higher for those who are over
65 or blind. It is $1,750 higher if they're also unmarried and not a surviving spouse. If someone can claim you as a dependent, you get a smaller standard deduction.

•2022 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

•2023 ca tax brackets

California state income tax rates are 1%, 2%, 4%, 6%, 8%, 9.3%, 10.3%, 11.3% and 12.3%. Mental Health Services tax rate is 1% for taxable income in excess of $1,000,000

•2023 NY tax brackets

New York state income tax rates are 4%, 4.5%, 5.25%, 5.85%, 6.25%, 6.85%, 9.65%, 10.3% and 10.9%.
New York City and Yonkers have their own local income tax on top of the state tax. New York City income tax rates are 3.078%, 3.762%, 3.819% and 3.876%.

Christine Lo

Accounting and Tax Services

Christine Lo

Tax & Accounting Service

income tax rates

•Personal Exemptions Eliminated•

Personal and dependent exemptions are eliminated under the new TCJA from 2018 to 2025. You are not able to reduce the income that subjects to tax by the exemptions amount for each person included on your tax return as you have in previous years such as yourself, your spouse, or your dependents.

•2023 Individual Income Tax Brackets•

Here are the 2023 tax rates and brackets organized by filing status:

•2023 Standard Deduction Amounts•

The standard deduction for 2023 is $1,850 higher for those who are over 65 or blind. If someone can claim you as a dependent, you get a smaller standard deduction.

•2023 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and rates than ordinary income.

•2024 Individual Income Tax Brackets•

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status.

Here are the 2024 tax rates and brackets organized by filing status:

•2024 Standard Deduction Amounts•

•2024 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and rates than ordinary income.

•2022 Individual Income Tax Brackets•

The Federal income tax has 7 rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The amount of tax you owe depends on your income level and filing status.

Here are the 2022 tax rates and brackets organized by filing status:

•2022 Standard Deduction Amounts•

The standard deduction is $1,400 higher for those who are over 65 or blind. It is $1,750 higher if they're also unmarried and not a surviving spouse. If someone can claim you as a dependent, you get a smaller standard deduction.

•2022 Long-term Capital Gains Tax Brackets•

Long-term capital gains re-taxed using different brackets and rates than ordinary income.

•2023 ca tax brackets

California state income tax rates are 1%, 2%, 4%, 6%, 8%, 9.3%, 10.3%, 11.3% and 12.3%. Mental Health Services tax rate is 1% for taxable income in excess of $1,000,000

•2023 NY tax brackets

New York state income tax rates are 4%, 4.5%, 5.25%, 5.85%, 6.25%, 6.85%, 9.65%, 10.3% and 10.9%. New York City and Yonkers have their own local income tax on top of the state tax. New York City income tax rates are 3.078%, 3.762%, 3.819% and 3.876%.

Here are the 2023 tax rates and brackets organized by filing
status:

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

Here are the 2024 tax rates and brackets organized by filing
status:

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

Here are the 2022 tax rates and brackets organized by filing
status:

The standard deduction is $1,400 higher for those who are over
65 or blind. It is $1,750 higher if they're also unmarried and not a surviving spouse. If someone can claim you as a dependent, you get a smaller standard deduction.

Long-term capital gains re-taxed using different brackets and
rates than ordinary income.

New York state income tax rates are 4%, 4.5%, 5.25%, 5.85%, 6.25%, 6.85%, 9.65%, 10.3% and 10.9%.
New York City and Yonkers have their own local income tax on top of the state tax. New York City income tax rates are 3.078%, 3.762%, 3.819% and 3.876%.