Tax Information

2022 Tax Rates Schedule X - Single
If taxable income is over But not over The tax is
$0 $10,275 10% of the taxable amount
$10,275 $41,775 $1,027.50 plus 12% of the excess over $10,275
$41,775 $89,075 $4,807.50 plus 22% of the excess over $41,775
$89,075 $170,050 $15,213.50 plus 24% of the excess over $89,075
$170,050 $215,950 $34,647.50 plus 32% of the excess over $170,050
$215,950 $539,900 $49,335.50 plus 35% of the excess over $215,950
$539,900 no limit $162,718.00 plus 37% of the excess over $539,900
2022 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)
If taxable income is over But not over The tax is
$0 $20,550 10% of the taxable amount
$20,550 $83,550 $2,055.00 plus 12% of the excess over $20,550
$83,550 $178,150 $9,615.00 plus 22% of the excess over $83,550
$178,150 $340,100 $30,427.00 plus 24% of the excess over $178,150
$340,100 $431,900 $69,295.00 plus 32% of the excess over $340,100
$431,900 $647,850 $98,671.00 plus 35% of the excess over $431,900
$647,850 no limit $174,253.50 plus 37% of the excess over $647,850
2022 Tax Rates Schedule Y-2 - Married Filing Separately
If taxable income is over But not over The tax is
$0 $10,275 10% of the taxable amount
$10,275 $41,775 $1,027.50 plus 12% of the excess over $10,275
$41,775 $89,075 $4,807.50 plus 22% of the excess over $41,775
$89,075 $170,050 $15,213.50 plus 24% of the excess over $89,075
$170,050 $215,950 $34,647.50 plus 32% of the excess over $170,050
$215,950 $323,925 $49,335.50 plus 35% of the excess over $215,950
$323,925 no limit $87,126.75 plus 37% of the excess over $323,925
2022 Tax Rates Schedule Z - Head of Household
If taxable income is over But not over The tax is
$0 $14,650 10% of the taxable amount
$14,650 $55,900 $1,465.00 plus 12% of the excess over $14,650
$55,900 $89,050 $6,415.00 plus 22% of the excess over $55,900
$89,050 $170,050 $13,708.00 plus 24% of the excess over $89,050
$170,050 $215,950 $33,148.00 plus 32% of the excess over $170,050
$215,950 $539,900 $47,836.00 plus 35% of the excess over $215,950
$539,900 no limit $161,218.50 plus 37% of the excess over $539,900
2022 Tax Rates Estates & Trusts
If taxable income is over But not over The tax is
$0 $2,750 10% of the taxable income
$2,750 $9,850 $275 plus 24% of the excess over $2,750
$9,850 $13,450 $1,979 plus 35% of the excess over $9,850
$13,450 no limit $3,239 plus 37% of the excess over $13,450
Social Security 2022 Tax Rates
Base Salary $147,000
Social Security Tax Rate 6.20%
Maximum Social Security Tax $9,114
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%
Additional Medicare 2022 Tax Rates
Additional Medicare Tax 0.90%
Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000
Education 2022 Credit and Deduction Limits
American Opportunity Tax Credit (Hope) $2,500
Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000
Miscellaneous 2022 Tax Rates
Standard Deduction:
• Married filing jointly or Qualifying Widow(er) $25,900
• Head of household $19,400
• Single or Married filing separately $12,950
Business Equipment Expense Deduction $1,080,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2021 tax liability
Standard mileage rate for business driving 58.5 cents Jan. 1 - June 30, 2022; 62.5 cents July 1 - Dec. 31, 2022
Standard mileage rate for medical/moving driving 18 cents Jan. 1 - June 30, 2022; 22 cents July 1 - Dec. 31, 2022
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $2,000 per qualifying child
Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $83,350 for joint filers and surviving spouses, $55,800 for heads of household, $41,675 for single filers, $41,675 for married taxpayers filing separately, and $2,800 for estates and trusts 0%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $517,200 for joint filers and surviving spouses, $488,500 for heads of household, $459,750 for single filers, $258,600 for married taxpayers filing separately, and $13,700 for estates and trusts 20%
Long-term gain attributable to certain depreciation recapture 25%
Capital gains tax rate on collectibles and qualified small business stock 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 $14,000 if under age 50 $17,000 if 50 or older
Maximum Contribution to SEP IRA 25% of compensation up to $61,000
401(k) maximum employee contribution limit $20,500 if under age 50 $27,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $12,060,000
Annual Exclusion for Gifts $16,000
Foreign Earned Income Exclusion $112,000

Tax Due Dates


Here is the IRS Online Tax Calendar where you can see federal tax deadlines for this month and future months: 

Tax Calendar

Financial Tools


Coming Soon

Retention Guide


Storing tax records: How long is long enough?

April 15 has come and gone and another year of tax forms and shoeboxes full of receipts is behind us. But what should be done with those documents after your check or refund request is in the mail?


Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time.


However, if the IRS believes you have significantly underreported your income (by 25 percent or more), it may go back six years in an audit. If there is any indication of fraud, or you do not file a return, no period of limitation exists. To be safe, use the following guidelines.

  • Business Documents To Keep For One Year

    • Correspondence with Customers and Vendors
    • Duplicate Deposit Slips
    • Purchase Orders (other than Purchasing Department copy)
    • Receiving Sheets
    • Requisitions
    • Stenographer's Notebooks
    • Stockroom Withdrawal Forms
    • Business Documents To Keep For Three Years
    • Employee Personnel Records (after termination)
    • Employment Applications
    • Expired Insurance Policies
    • General Correspondence
    • Internal Audit Reports
    • Internal Reports
    • Petty Cash Vouchers
    • Physical Inventory Tags
    • Savings Bond Registration Records of Employees
    • Time Cards For Hourly Employees
  • Business Documents To Keep For Six Years

    • Accident Reports, Claims
    • Accounts Payable Ledgers and Schedules
    • Accounts Receivable Ledgers and Schedules
    • Bank Statements and Reconciliations
    • Cancelled Checks
    • Cancelled Stock and Bond CertificatesEmployment Tax Records
    • Expense Analysis and Expense Distribution Schedules
    • Expired Contracts, Leases
    • •Expired Option Records
    • Inventories of Products, Materials, Supplies
    • Invoices to Customers
    • Notes Receivable Ledgers, Schedules
    • Payroll Records and Summaries, including payment to pensioners
    • Plant Cost Ledgers
    • Purchasing Department Copies of Purchase Orders
    • Records related to net operating losses (NOL's)
    • Sales Records
    • Subsidiary Ledgers
    • Time Books
    • Travel and Entertainment Records
    • Vouchers for Payments to Vendors, Employees, etc.
    • Voucher Register, Schedules
  • Business Records To Keep Forever

    While federal guidelines do not require you to keep tax records "forever," in many cases there will be other reasons you'll want to retain these documents indefinitely.


    • Audit Reports from CPAs/Accountants
    • Cancelled Checks for Important Payments (especially tax payments)
    • Cash Books, Charts of Accounts
    • Contracts, Leases Currently in Effect
    • Corporate Documents (incorporation, charter, by-laws, etc.)
    • Documents substantiating fixed asset additions
    • Deeds
    • Depreciation Schedules
    • Financial Statements (Year End)
    • General and Private Ledgers, Year End Trial Balances
    • Insurance Records, Current Accident Reports, Claims, Policies
    • Investment Trade Confirmations
    • IRS Revenue Agent Reports
    • Journals
    • Legal Records, Correspondence and Other Important Matters
    • Minutes Books of Directors and Stockholders
    • Mortgages, Bills of Sale
    • Property Appraisals by Outside Appraisers
    • Property Records
    • Retirement and Pension Records
    • Tax Returns and Worksheets
    • Trademark and Patent Registrations
  • Personal Documents To Keep For One Year

    While it's important to keep year-end mutual fund and IRA contribution statements forever, you don't have to save monthly and quarterly statements once the year-end statement has arrived.

  • Personal Documents To Keep For Three Years

    • Credit Card Statements
    • Medical Bills (in case of insurance disputes)
    • Utility Records
    • Expired Insurance Policies
  • Personal Documents To Keep For Six Years

    • Supporting Documents For Tax Returns
    • Accident Reports and Claims
    • Medical Bills (if tax-related)
    • Sales Receipts
    • Wage Garnishments
    • Other Tax-Related Bills
  • Personal Records To Keep Forever

    • CPA Audit Reports
    • Legal Records
    • Important Correspondence
    • Income Tax Returns
    • Income Tax Payment Checks
    • Property Records / Improvement Receipts (or six years after property sold)
    • Investment Trade Confirmations
    • Retirement and Pension Records (Forms 5448, 1099-R and 8606 until all distributions are made from your IRA or other qualified plan)
  • Special Circumstances

    • Car Records (keep until the car is sold)
    • Credit Card Receipts (keep until verified on your statement)
    • Insurance Policies (keep for the life of the policy)
    • Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
    • Pay Stubs (keep until reconciled with your W-2)
    • Sales Receipts (keep for life of the warranty)
    • Stock and Bond Records (keep for 6 years beyond selling)
    • Warranties and Instructions (keep for the life of the product)
    • Other Bills (keep until payment is verified on the next bill)
    • Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)

Tax Forms


To begin, Download the Tax Organizer Form 

Forms, Instructions and Publications


Coming Soon

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