2021 federal income tax brackets
Single
| Taxable Income | Tax owed |
|---|---|
| $0 - $9,950 | 10% of taxable income |
| $9,951 to $40,525 | $995 plus 12% of the amount over $9,950 |
| $40,526 to $86,375 | $4,664plus 22% of the amount over $40,525 |
| $86,376 to $164,925 | $14,751plus 24% of the amount over $86,375 |
| $164,926 to $209,425 | $33,603plus 32% of the amount over $164,925 |
| $209,426 to $523,200 | $47,843plus 35% of the amount over $209,425 |
| $523,601 or more | $157,804.25plus 37% of the amount over $523,600 |
Married Filing Jointly
| Taxable Income | Tax owed |
|---|---|
| $0 to $19,900 | 10% of taxable income |
| $19,901 to $81,050 | $19,901 plus 12% of the amount over $19,900 |
| $81,051 to $172,750 | $9,328plus 22% of the amount over $81,050 |
| $172,751 to $329,850 | $29,502 plus 24% of the amount over $172,750 |
| $329,851 to $418,850 | $67,206plus 32% of the amount over $329,850 |
| $418,851 to $628,300 | $95,686 plus 35% of the amount over $418,850 |
| $628,301 or more | $168,993.50plus 37% of the amount over $628,300 |
Married Filing Separately
| Taxable Income | Tax owed | $0 to $9,950 | 10% of taxable income |
|---|---|
| $9,951 to $40,525 | 995plus 12% of the amount over $9950 |
| $40,526 to $86,375 | $4,664plus 22% of the amount over $40,525 |
| $86,376 to $164,925 | $14,751plus 24% of the amount over $86,375 |
| $64,926 to $209,425 | $33,603 plus 32% of the amount over $164,925 |
| $209,426 to $314,150 | $47,843 plus 35% of the amount over $209,425 |
| $314,151 or more | $84,496.75plus 37% of the amount over $314,150 |
Head of Household
| Taxable Income | Tax owed | $0 to $14,200 | 10% of taxable income |
|---|---|
| $14,201 to $54,200 | $1,420plus 12% of the amount over $14,200 |
| $54,201 to $86,350 | $6,220 plus 22% of the amount over $54,200 |
| $86,351 to $164,900 | $13,293plus 24% of the amount over $86,350 |
| $164,901 to $209,400 | $32,145 plus 32% of the amount over $164,900 |
| $209,401 to $523,600 | $46,385 plus 35% of the amount over $209,400 |
| $523,601 or more | $156,355plus 37% of the amount over $523,600 |
2021 Capital Gain and Qualified dividends Tax Rates
| Rate | Single Filer | Married Filing Jointly | Head of Household | Married Filing Separately |
| 0% | $0-$40,400 | $0-$80,800 | $0-$53,600 | $0-$40,000 |
| 15% | $40,401 to $445,850 | $80,801 to $501,600 | $54,101 to $473,750 | $40,401 to $250,800 |
| 20% | Over $445,850 | Over $501,600 | Over $473,750 | Over $250,800 |
* Additional 3.8% tax imposed on the lesser of the individual's Net investment Income or the excess of the individual's MAGI over certain thresholds ($250,000 for married couples filing jointly or surviving spouse, $125,000 for married couples filing separately, and $200,000 for all other individual taxpayers.) **The taxable part of a gain from selling setion 1020 and gain from selling collectiblers(coins or art) is taxed at maximum 28%. ***The portion of any unrecaptured section 1250 gain from selling section 1250 real property is taxed at a maximum 25% rate. ****Short-term capital gains are taxed at the same rate as ordinary income.
Individual Estimated Taxes
| Individuals can base federal estimated tax payments on: | |||
| 1) 90% of current tax | |||
| 2) 100% of prior year's tax, or | |||
| 3) 110% of prior year's tax if prior year's AGI is :>$150,000 (>$75,000 for married Filing Separately) | |||
| . Annualization exception | |||
| . No penalty if tax <$1,000 or no tax liabilities in preceding tax year. | |||
