{"id":1125,"date":"2025-11-08T10:19:13","date_gmt":"2025-11-08T10:19:13","guid":{"rendered":"https:\/\/elzagraphics.co.in\/Next-Level\/?page_id=1125"},"modified":"2025-11-08T10:19:13","modified_gmt":"2025-11-08T10:19:13","slug":"tax-rates","status":"publish","type":"page","link":"https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/","title":{"rendered":"Tax Rates"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row css=&#8221;.vc_custom_1761109999836{margin-bottom: 0px !important;padding-bottom: 10px !important;}&#8221;][vc_column]\n  <h2 style=\"text-align: center;color: #008FD4;\" > Tax Rates<\/h2>\n[vc_text_separator title=&#8221;&#8221; css=&#8221;&#8221;][vc_row_inner][vc_column_inner][vc_column_text css=&#8221;&#8221;]<\/p>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Federal Income Taxes<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><strong>Taxable Income Over<\/strong><\/td>\n<td><strong>Taxable Income Not over<\/strong><\/td>\n<td><strong>Tax +<\/strong><\/td>\n<td><strong>% on excess<\/strong><\/td>\n<td><strong>of the amount over<\/strong><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Single Filers<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$11,000<\/td>\n<td>$0<\/td>\n<td>10%<\/td>\n<td>$0<\/td>\n<\/tr>\n<tr>\n<td>$11,000<\/td>\n<td>$44,725<\/td>\n<td>$1,100<\/td>\n<td>12%<\/td>\n<td>$11,000<\/td>\n<\/tr>\n<tr>\n<td>$44,725<\/td>\n<td>$95,375<\/td>\n<td>$5,147<\/td>\n<td>22%<\/td>\n<td>$44,725<\/td>\n<\/tr>\n<tr>\n<td>$95,375<\/td>\n<td>$182,100<\/td>\n<td>$16,290<\/td>\n<td>24%<\/td>\n<td>$95,375<\/td>\n<\/tr>\n<tr>\n<td>$182,100<\/td>\n<td>$231,250<\/td>\n<td>$37,104<\/td>\n<td>32%<\/td>\n<td>$182,100<\/td>\n<\/tr>\n<tr>\n<td>$231,250<\/td>\n<td>$578,125<\/td>\n<td>$52,832<\/td>\n<td>35%<\/td>\n<td>$231,250<\/td>\n<\/tr>\n<tr>\n<td>$578,125<\/td>\n<td>$<\/td>\n<td>$174,238<\/td>\n<td>37%<\/td>\n<td>$578,125<\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr class=\"gray-bg\">\n<td>Married Filing Jointly and Surviving Spouses<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$22,000<\/td>\n<td>$0<\/td>\n<td>10%<\/td>\n<td>$0<\/td>\n<\/tr>\n<tr>\n<td>$22,000<\/td>\n<td>$89,450<\/td>\n<td>$2,200<\/td>\n<td>12%<\/td>\n<td>$22,000<\/td>\n<\/tr>\n<tr>\n<td>$89,450<\/td>\n<td>$190,750<\/td>\n<td>$10,204<\/td>\n<td>22%<\/td>\n<td>$89,450<\/td>\n<\/tr>\n<tr>\n<td>$190,750<\/td>\n<td>$364,200<\/td>\n<td>$32,580<\/td>\n<td>24%<\/td>\n<td>$190,750<\/td>\n<\/tr>\n<tr>\n<td>$364,200<\/td>\n<td>$462,500<\/td>\n<td>$74,208<\/td>\n<td>32%<\/td>\n<td>$364,200<\/td>\n<\/tr>\n<tr>\n<td>$462,500<\/td>\n<td>$693,750<\/td>\n<td>$105,664<\/td>\n<td>35%<\/td>\n<td>$462,500<\/td>\n<\/tr>\n<tr>\n<td>$693,750<\/td>\n<td>$<\/td>\n<td>$186,601.50<\/td>\n<td>37%<\/td>\n<td>$693,750<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Married Filing Separately<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$11,000<\/td>\n<td>$0<\/td>\n<td>10%<\/td>\n<td>$0<\/td>\n<\/tr>\n<tr>\n<td>$11,000<\/td>\n<td>$44,725<\/td>\n<td>$1,100<\/td>\n<td>12%<\/td>\n<td>$11,000<\/td>\n<\/tr>\n<tr>\n<td>$44,725<\/td>\n<td>$95,375<\/td>\n<td>$5,147<\/td>\n<td>22%<\/td>\n<td>$44,725<\/td>\n<\/tr>\n<tr>\n<td>$95,375<\/td>\n<td>$182,100<\/td>\n<td>$16,290<\/td>\n<td>24%<\/td>\n<td>$95,375<\/td>\n<\/tr>\n<tr>\n<td>$182,100<\/td>\n<td>$231,250<\/td>\n<td>$37,104<\/td>\n<td>32%<\/td>\n<td>$182,100<\/td>\n<\/tr>\n<tr>\n<td>$231,250<\/td>\n<td>$346,875<\/td>\n<td>$52,832<\/td>\n<td>35%<\/td>\n<td>$231,250<\/td>\n<\/tr>\n<tr>\n<td>$346,875<\/td>\n<td>$<\/td>\n<td>$93,300.75<\/td>\n<td>37%<\/td>\n<td>$346,875<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Head of Household<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$15,700<\/td>\n<td>$0<\/td>\n<td>10%<\/td>\n<td>$0<\/td>\n<\/tr>\n<tr>\n<td>$15,700<\/td>\n<td>$59,850<\/td>\n<td>$1,570<\/td>\n<td>12%<\/td>\n<td>$15,700<\/td>\n<\/tr>\n<tr>\n<td>$59,850<\/td>\n<td>$95,350<\/td>\n<td>$6,868<\/td>\n<td>22%<\/td>\n<td>$59,850<\/td>\n<\/tr>\n<tr>\n<td>$95,350<\/td>\n<td>$182,100<\/td>\n<td>$14,678<\/td>\n<td>24%<\/td>\n<td>$95,350<\/td>\n<\/tr>\n<tr>\n<td>$182,100<\/td>\n<td>$231,250<\/td>\n<td>$35,498<\/td>\n<td>32%<\/td>\n<td>$182,100<\/td>\n<\/tr>\n<tr>\n<td>$231,250<\/td>\n<td>$578,100<\/td>\n<td>$51,226<\/td>\n<td>35%<\/td>\n<td>$231,250<\/td>\n<\/tr>\n<tr>\n<td>$578,100<\/td>\n<td>$<\/td>\n<td>$172,623.50<\/td>\n<td>37%<\/td>\n<td>$578,100<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Trusts &amp; Estates<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$2,900<\/td>\n<td>$0<\/td>\n<td>10%<\/td>\n<td>$0<\/td>\n<\/tr>\n<tr>\n<td>$2,900<\/td>\n<td>$10,550<\/td>\n<td>$290<\/td>\n<td>24%<\/td>\n<td>$2,900<\/td>\n<\/tr>\n<tr>\n<td>$10,550<\/td>\n<td>$14,450<\/td>\n<td>$2,126<\/td>\n<td>35%<\/td>\n<td>$10,550<\/td>\n<\/tr>\n<tr>\n<td>$14,450<\/td>\n<td>$<\/td>\n<td>$2,491<\/td>\n<td>37%<\/td>\n<td>$14,450<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Health Savings Accounts<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Contribution Limits<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Single\/Family<\/td>\n<td>$3,650\/$7,300<\/td>\n<td>$3,850\/$7,750<\/td>\n<\/tr>\n<tr>\n<td>Age 55+ Catch-up<\/td>\n<td>$1,000<\/td>\n<td>$1,000<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>High Deductible Health Plans<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Minimum HDHP Deductible Single\/Family<\/td>\n<td>$1,400\/$2,800<\/td>\n<td>$1,500\/$3,000<\/td>\n<\/tr>\n<tr>\n<td>Maximum out of Pocket Single\/Family<\/td>\n<td>$7,050\/$14,100<\/td>\n<td>$7,500\/15,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sources: IRS Rev. Proc. 2021-25<\/p>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><strong>Standard Deductions<\/strong><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Married Filing Jointly &amp; Surviving Spouses<\/td>\n<td>$25,900<\/td>\n<td>$27,700<\/td>\n<\/tr>\n<tr>\n<td>Head of Household<\/td>\n<td>$19,400<\/td>\n<td>$20,800<\/td>\n<\/tr>\n<tr>\n<td>Single or Married Filing Separately<\/td>\n<td>$12,950<\/td>\n<td>$13,850<\/td>\n<\/tr>\n<tr class=\"lightgray-bg\">\n<td>Additional Deduction for Blind or aged (over age 65)<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Single or Head or Household<\/td>\n<td>$1,700<\/td>\n<td>$1,750<\/td>\n<\/tr>\n<tr>\n<td>Married Filing Jointly or Separately<\/td>\n<td>$1,350<\/td>\n<td>$1,400<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sources: IRS Rev. Proc. 2021-45<\/p>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Social Security<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Taxable wage base<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Social Security (OASDI)<\/td>\n<td>$147,000<\/td>\n<td>$160,200<\/td>\n<\/tr>\n<tr class=\"lightgray-bg\">\n<td>Medicare (HI only)<\/td>\n<td>No limit<\/td>\n<td>No limit<\/td>\n<\/tr>\n<tr>\n<td>Quarter of Coverage<\/td>\n<td>$1,510<\/td>\n<td>$1,510<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Retirement earning test<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Under full retirement age<\/strong><\/td>\n<td>$19,560\/yr. ($1,630\/mo.)<\/td>\n<td>$21,240\/yr. ($1,770\/mo.)<\/td>\n<\/tr>\n<tr class=\"lightgray-bg\">\n<td><strong>Note:<\/strong>\u00a0One dollar in benefits will be withheld for every $2 in earnings above the limit<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Year reaching full retirement age<\/strong><\/td>\n<td>$51,960\/yr. ($4,330\/mo.)<\/td>\n<td>$56,520\/yr. ($4,710\/mo.)<\/td>\n<\/tr>\n<tr class=\"lightgray-bg\">\n<td><strong>Note:<\/strong>\u00a0Applies only to earnings for months prior to attaining full retirement age. One dollar in benefits will be withheld for every $3 in earnings above the limit.<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Taxability of benefits (Based on Provisional Income)<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr class=\"light-bg\">\n<td><\/td>\n<td>Individual<\/td>\n<td>Married filing jointly<\/td>\n<\/tr>\n<tr>\n<td>Not taxable<\/td>\n<td>Less then $25,000<\/td>\n<td>Less then $32,000<\/td>\n<\/tr>\n<tr>\n<td>Up to 50%<\/td>\n<td>$25,000-$34,000<\/td>\n<td>$32,000-$44,000<\/td>\n<\/tr>\n<tr>\n<td>Up to 85%<\/td>\n<td>Greater than $34,000<\/td>\n<td>Greater than $44,000<\/td>\n<\/tr>\n<tr class=\"light-bg\">\n<td>Married Filing Separately<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Up to 85% of benefits are taxable.<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr class=\"lightgray-bg\">\n<td>Provisional Income = Adjusted Gross Income + Nontaxable Income + 1\/2 Social Security Benefits<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Age to receive full benefits<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr class=\"light-bg\">\n<td>Year of birth<\/td>\n<td>Full retirement age<\/td>\n<td>% reduced at age 62<\/td>\n<\/tr>\n<tr>\n<td>1943-1954<\/td>\n<td>66<\/td>\n<td>25.00%<\/td>\n<\/tr>\n<tr>\n<td>1955<\/td>\n<td>66 and 2 months<\/td>\n<td>25.83%<\/td>\n<\/tr>\n<tr>\n<td>1956<\/td>\n<td>66 and 4 months<\/td>\n<td>26.67%<\/td>\n<\/tr>\n<tr>\n<td>1957<\/td>\n<td>66 and 6 months<\/td>\n<td>27.50%<\/td>\n<\/tr>\n<tr>\n<td>1958<\/td>\n<td>66 and 8 months<\/td>\n<td>28.33%<\/td>\n<\/tr>\n<tr>\n<td>1959<\/td>\n<td>66 and 10 months<\/td>\n<td>29.17%<\/td>\n<\/tr>\n<tr>\n<td>1960 and later<\/td>\n<td>67<\/td>\n<td>30.00%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table width=\"100%\">\n<tbody>\n<tr class=\"gray-bg\">\n<td>Delayed retirement credits<\/td>\n<td><\/td>\n<\/tr>\n<tr class=\"light-bg\">\n<td>Year of birth<\/td>\n<td>Yearly rate of increase<\/td>\n<\/tr>\n<tr>\n<td>1943 or later<\/td>\n<td>8.0%<\/td>\n<\/tr>\n<tr class=\"lightgray-bg\">\n<td>Accrues when you reach full retirement age until you start receiving benefits or reach age 70.<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Source: Social Security Administration website, SSA.gov.<\/p>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Traditional and Roth IRA<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>IRA annual contribution limit<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Contribution limit<\/td>\n<td>$6,000<\/td>\n<td>$6,500<\/td>\n<\/tr>\n<tr>\n<td>50+ Catch-up<\/td>\n<td>$1,000<\/td>\n<td>$1,000<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Traditional IRA deductibility phase-out (based on MAGI)<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Participants in employer plans<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Married filing jointly or qualifying widow(er)<\/td>\n<td>$109,000-$129,000<\/td>\n<td>$116,000-$136,000<\/td>\n<\/tr>\n<tr>\n<td>Married filing separately<\/td>\n<td>$0-$10,000<\/td>\n<td>$0-$10,000<\/td>\n<\/tr>\n<tr>\n<td>Single or head of household<\/td>\n<td>$68,000-$78,000<\/td>\n<td>$73,000-$83,000<\/td>\n<\/tr>\n<tr>\n<td><strong>Nonparticipant married to a participant<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Married filing jointly<\/td>\n<td>$204,000-$214,000<\/td>\n<td>$218,000-$228,000<\/td>\n<\/tr>\n<tr>\n<td>Married filing separately<\/td>\n<td>$0-$10,000<\/td>\n<td>$0-$10,000<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Roth IRA phase-out (based on MAGI)<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Married filing jointly or qualifying widow(er)<\/td>\n<td>$204,000-$214,000<\/td>\n<td>$218,000-$228,000<\/td>\n<\/tr>\n<tr>\n<td>Married filing separately and lived with your spouse<\/td>\n<td>$0-$10,000<\/td>\n<td>$0-$10,000<\/td>\n<\/tr>\n<tr>\n<td>Single or Head of Household, or Married filing separately and lived apart from your spouse<\/td>\n<td>$129,000-$144,000<\/td>\n<td>$138,000-$153,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sources: IRS Notice 2021-61<\/p>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Capital Gains\/Qualified Dividends<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><strong>Taxable Income Over<\/strong><\/td>\n<td><strong>But Not over<\/strong><\/td>\n<td><strong>Tax rate<\/strong><\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Single Filers<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$44,625<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td>$44,625<\/td>\n<td>$492,300<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>$492,300<\/td>\n<td>$<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Married Filing Jointly &amp; Surviving Spouses<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$89,250<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td>$89,250<\/td>\n<td>$553,850<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>$553,850<\/td>\n<td>$<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Married Filing Separately<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$44,625<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td>$44,625<\/td>\n<td>$276,900<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>$276,900<\/td>\n<td>$<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Head of Household<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$59,750<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td>$59,750<\/td>\n<td>$523,050<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>$523,050<\/td>\n<td>$<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr class=\"gray-bg\">\n<td>Trusts &amp; Estates<\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>$0<\/td>\n<td>$3,000<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td>$3,000<\/td>\n<td>$14,641<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>$14,650<\/td>\n<td>$<\/td>\n<td>20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sources: IRS Rev. Proc. 2021-45<\/p>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Gift and Estate Tax<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Annual Gift exclusion<\/td>\n<td>$16,000<\/td>\n<td>$17,000<\/td>\n<\/tr>\n<tr>\n<td>Unified credit amount<\/td>\n<td>$12,060,000<\/td>\n<td>$12,920,000<\/td>\n<\/tr>\n<tr>\n<td>Gift to non-citizen spouse<\/td>\n<td>$164,000<\/td>\n<td>$175,000<\/td>\n<\/tr>\n<tr>\n<td>Highest estate tax bracket<\/td>\n<td>37%<\/td>\n<td>40%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sources: IRS Rev. Proc. 2021-45<\/p>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">SEP IRA and SIMPLE IRA contribution limits<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Maximum annual additions to a SEP IRA<\/td>\n<td>$61,000<\/td>\n<td>$66,000<\/td>\n<\/tr>\n<tr>\n<td>Maximum compensation considered for a SEP IRA<\/td>\n<td>$305,000<\/td>\n<td>$330,000<\/td>\n<\/tr>\n<tr>\n<td>SIMPLE IRA salary deferral amount<\/td>\n<td>$14,000<\/td>\n<td>$15,500<\/td>\n<\/tr>\n<tr>\n<td>50+ Catch-up<\/td>\n<td>$3,000<\/td>\n<td>$3,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Sources: IRS Notice 2022-55<\/p>\n<\/div>\n<\/div>\n<div class=\"gap-60\"><\/div>\n<div class=\"row\">\n<div class=\"col-lg-12 col-md-12\">\n<div class=\"heading\">\n<h4 class=\"list-column-title\">Qualified Plans<\/h4>\n<\/div>\n<table width=\"100%\">\n<tbody>\n<tr class=\"blue-bg\">\n<td><\/td>\n<td><strong>2022<\/strong><\/td>\n<td><strong>2023<\/strong><\/td>\n<\/tr>\n<tr>\n<td>401(k), 403(b), 457(b) salary deferral1<\/td>\n<td>$20,500<\/td>\n<td>$22,500<\/td>\n<\/tr>\n<tr>\n<td>50+ Catch-up<\/td>\n<td>$6,500<\/td>\n<td>$7,500<\/td>\n<\/tr>\n<tr>\n<td>Simple Salary deferral<\/td>\n<td>$14,000<\/td>\n<td>$15,500<\/td>\n<\/tr>\n<tr>\n<td>50+ Catch-up<\/td>\n<td>$3,000<\/td>\n<td>$3,500<\/td>\n<\/tr>\n<tr>\n<td>Maximum annual additions in a defined contribution plan<\/td>\n<td>$61,000<\/td>\n<td>$66,000<\/td>\n<\/tr>\n<tr>\n<td>Maximum Annual benefit in defined benefit plan<\/td>\n<td>$245,000<\/td>\n<td>$265,000<\/td>\n<\/tr>\n<tr>\n<td>Maximum compensation considered<\/td>\n<td>$305,000<\/td>\n<td>$330,000<\/td>\n<\/tr>\n<tr>\n<td>Highly compensated employee<\/td>\n<td>$135,000<\/td>\n<td>$150,000<\/td>\n<\/tr>\n<tr>\n<td>Key employee &#8211; Officer<\/td>\n<td>$200,000<\/td>\n<td>$215,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Special catch-up rules applies to certain 403(b) contributors with 15 or more years of service and governmental 457(b) participants in the last 3 years before<\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row css=&#8221;.vc_custom_1761109999836{margin-bottom: 0px !important;padding-bottom: 10px !important;}&#8221;][vc_column][vc_text_separator title=&#8221;&#8221; css=&#8221;&#8221;][vc_row_inner][vc_column_inner][vc_column_text css=&#8221;&#8221;] Federal Income Taxes Taxable Income Over Taxable Income Not over Tax + % on excess of the amount over Single Filers $0 $11,000 $0 10% $0 $11,000 $44,725 $1,100 12% $11,000 $44,725 $95,375 $5,147 22% $44,725 $95,375 $182,100 $16,290 24% $95,375 $182,100 $231,250 $37,104 32% $182,100 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/template-fullwidth.php","meta":{"footnotes":""},"class_list":["post-1125","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax Rates - Next Level Tax Carrollton<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Rates - Next Level Tax Carrollton\" \/>\n<meta property=\"og:description\" content=\"[vc_row css=&#8221;.vc_custom_1761109999836{margin-bottom: 0px !important;padding-bottom: 10px !important;}&#8221;][vc_column][vc_text_separator title=&#8221;&#8221; 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css=&#8221;&#8221;][vc_row_inner][vc_column_inner][vc_column_text css=&#8221;&#8221;] Federal Income Taxes Taxable Income Over Taxable Income Not over Tax + % on excess of the amount over Single Filers $0 $11,000 $0 10% $0 $11,000 $44,725 $1,100 12% $11,000 $44,725 $95,375 $5,147 22% $44,725 $95,375 $182,100 $16,290 24% $95,375 $182,100 $231,250 $37,104 32% $182,100 [&hellip;]","og_url":"https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/","og_site_name":"Next Level Tax Carrollton","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/","url":"https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/","name":"Tax Rates - Next Level Tax Carrollton","isPartOf":{"@id":"https:\/\/elzagraphics.co.in\/Next-Level\/#website"},"datePublished":"2025-11-08T10:19:13+00:00","breadcrumb":{"@id":"https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/elzagraphics.co.in\/Next-Level\/tax-rates\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/elzagraphics.co.in\/Next-Level\/"},{"@type":"ListItem","position":2,"name":"Tax Rates"}]},{"@type":"WebSite","@id":"https:\/\/elzagraphics.co.in\/Next-Level\/#website","url":"https:\/\/elzagraphics.co.in\/Next-Level\/","name":"Next Level Tax Carrollton","description":"Dedicated to help your business grow..","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/elzagraphics.co.in\/Next-Level\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/pages\/1125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/comments?post=1125"}],"version-history":[{"count":1,"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/pages\/1125\/revisions"}],"predecessor-version":[{"id":1126,"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/pages\/1125\/revisions\/1126"}],"wp:attachment":[{"href":"https:\/\/elzagraphics.co.in\/Next-Level\/wp-json\/wp\/v2\/media?parent=1125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}