Helpful information:
Tax Rate for 2022
Tax Rates Single Married Jointly
Ordinary Capital Income range Income range
Income Gains
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10% 0% $0 to $10,275 $0 to $20,550
12% 0% $10,275 to $41,775 $20,550 to $83,550
22% 15% $41,775 to $89,075 $83,550 to $178,150
24% 15% $89,075 to $170,050 $178,150 to $340,100
32% 15% $170,050 to $215,950 $340,100 to $431,900
35% 15%-20% $215,950 to $539,900 $431,900 to $647,850
37% 20% Over $539,900 Over $647,850
2022 Pension and IRA limits
Under 50 Over 50
IRA contribution $6,000 $7,000
SIMPLE contribution $14,000 $17,000
401K/403B deferrals $20,500 $27,000
Maximum benefit defined contribution plan..$61,000
Maximum benefit defined benefit plan........$245,000
Maximum compensation base...................$305,000
Highly compensated employee wage.........$135,000
Social security taxable wage base..............$147,000
Health Savings accounts contribution limits
Individual $3,650
Family $7,300
Age 55 and older increase $1,000
Standard Rates
STANDARD MILEAGE RATES After 6/30/22
Business...............58.5 cents/mile 62.5 cents/mile
Medical or moving....18 cents/mile 22 cents/mile
Charitable...............14 cents/mile 14 cents/mile
BUSINESS TRAVEL PER DIEM RATES
Lodging Meals Total
Low cost area $132 $57 $189
High cost area $214 $68 $282
Alaska rates vary by locale but tend to be higher for meals
CHILD CARE PROVIDER MEAL RATES ALASKA
Breakfast $2.09
Lunch or dinner $3.99
Snack $1.19
Links to Important Forms
Section 179 and bonus depreciation for 2017
Maximum deduction limit $500,000
Spending cap $2 million
Bonus depreciation permitted 50%
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There is a dollar for dollar reduction in the 179 deduction for asset purchases in excess of $2 million
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