Below are 2021 tax rates for:
2021 Tax Rates
Social Security Tax Rates
Miscellaneous Tax Rates
Education Tax Rates
Standard Meal Rates for Family Child Care Providers for Income Tax Returns
2021 Tax Rates
2021 Tax Rates – Single Tax Payers
Standard Deduction $12,550
| 10% | 0 to $9,950 |
| 12% | $9,950 to $40,525 |
| 22% | $40,525 to $86,375 |
| 24% | $86,375 to $164,925 |
| 32% | $164,925 to $209,425 |
| 35% | $209,425 to $523,600 |
| 37% | Over $518,400 |
| 2021 Tax Rates – Married Jointly & Surviving Spouses Standard Deduction $25,100 | |
| 10% | 0 to $19,900 |
| 12% | $19,900 to $81,050 |
| 22% | $81,050 to $172,750 |
| 24% | $172,750 to $329,850 |
| 32% | $329,850 to $418,850 |
| 35% | $418,850 to $628,300 |
| 37% | Over $628,300 |
| 2021 Tax Rates – Married Filing Separately Standard Deduction $12,550 | |
| 10% | 0 to $9,950 |
| 12% | $9,950 to $40,525 |
| 22% | $40,525 to $86,375 |
| 24% | $86,355 to $164,925 |
| 32% | $164,925 to $209,425 |
| 35% | $209,425 to $314,150 |
| 37% | Over $314,150 |
| 2021 Tax Rates – Head of Household Standard Deduction $18,800 | |
| 10% | 0 to $14,200 |
| 12% | $14,200 to $54,200 |
| 22% | $54,200 to $86,350 |
| 24% | $86,350 to $164,900 |
| 32% | $164,900 to $209,400 |
| 35% | $209,400 to $523,600 |
| 37% | Over $523,600 |
| 2021 Tax Rates Estates & Trusts | |
| 10% | 0 to $2,650 |
| 24% | $2,650 to $9,550 |
| 35% | $9,550 to $13,050 |
| 37% | Over $13,050 |
Social Security Tax Rates
| Social Security | 2021 Tax Rates |
| Social Security Tax Rate: Employers | 6.2% |
| Social Security Tax Rate: Employees | 6.2% |
| Social Security Tax Rate: Self-Employed | 15.3% |
| Maximum Taxable Earnings | $142,800 |
| Medicare Base Salary | Unlimited |
| Medicare Tax Rate: Employers | 1.45% |
| Medicare Tax Rate: Employees | 1.45% |
| Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) | 0.9% |
| Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) | 3.8% |
Miscellaneous Tax Rates
| Miscellaneous | 2021 Tax Rates |
| Business expensing limit: Cap on equipment purchases | $2,620,000 |
| Business expensing limit: New and Used Equipment and Software | $1,050,000 |
| Qualified Business Income threshold amount: | $164,925 (single and head of household); $329,800 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit: | $5,300 (single coverage); $10,700 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2020 tax liability |
| Standard mileage rate for business driving | 56 cents |
| Standard mileage rate for medical driving | 16 cents |
| Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station | 16 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $3,000 to $3,600 |
| Unearned income maximum for children under 19 before kiddie tax applies | $1,100 |
| Maximum capital gains tax rate for taxpayers with income up to $40,400 for single filers, $80,800 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $40,400 for single filers, $80,800 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $445,850 for single filers, $501,600 for married filing jointly | 20% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles | 28% |
| Maximum contribution for Traditional/Roth IRA | $6,000 if under age 50 $7,000 if 50 or older |
| Maximum employee contribution to SIMPLE IRA | $13,500 if under age 50 $16,500 if 50 or older |
| Maximum Contribution to SEP IRA | 25% of eligible compensation up to $58,000 |
| 401(k) maximum employee contribution limit | $19,500 if under age 50 $26,000 if 50 or older |
| Estate tax exemption | $11,700,000 |
| Annual Exclusion for Gifts | $15,000 |
Education Tax Rates
| Education | 2021 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
| Source: IRS Revenue Procedure 2020-45 |
Standard Meal Rates for Family Child Care Providers for Income Tax Returns
| Continental U.S. | 2021-22 Tax Rates (July 1, 2021-June 30, 2022) |
| For each breakfast | $1.40 |
| For each lunch or supper | $2.63 |
| For each snack (up to 3 per day for each child) | $0.78 |
| Alaska | 2021-22 Tax Rates (July 1, 2021-June 30, 2022) |
| For each breakfast | $2.23 |
| For each lunch or supper | $4.26 |
| For each snack (up to 3 per day for each child) | $1.27 |
| Hawaii | 2021-22 Tax Rates (July 1, 2021-June 30, 2022) |
| For each breakfast | $1.63 |
| For each lunch or supper | $3.08 |
| For each snack (up to 3 per day for each child) | $0.91 |
| Source: Federal Register |