Updated  - December 16th, 2020







Federal Income tax (Individual)




Rate

                                   


Taxable Income (Single)



to $9,875
10%

to $40,125
12%

to $85,525
22%

to $163,300
24%

to $207,350
32%

to $518,400
35%

over
37%




Taxable Income (Married Filing Jointly)




to $19,750
10%

to $80,250
12%

to $171,050
22%

to $326,600
24%

to $414,700
32%

to $622,050
35%

over
37%




Long term Capital Gain  & Qualified dividends:





Individual (Single)


to $40,000
0%

to $441,450
15%

over
20%

Individual (Married Filing Jointly)


to $80,000
0%

to $496,600
15%

over
20%




Net Investment Income Tax





after $200,000 net investment income (Single)
3.8%

after $250,000 taxable net investment (Married Filing Jointly)
3.8%




Corporation Tax



21%




Self-Employment tax



15.3%




Payroll taxes





Social security 
6.2% of first $137,700

Medicare 
1.45%

Medicare surtax (income >$200,000)
0.9%

Federal Unemployment
0.6% of first $7000




Estate & Trust





to $2,600
10%

to $9,450
24%

to $12,950
35%

over
37%




Annual gift tax exclusion
$15,000

Federal Estate Exemption
$11,580,000




Standard Deduction





Single
$12,400

Married Filing Jointly
$24,800

Head of Household
$18,650




Education Credit





Lifetime learning credit
max

up to $59,000 taxable income (Single)
$2,000

up to $118,000 taxable income  (Married Filing Jointly)
$2,000




American Opportunity credit
max

up to $80,000 taxable income (Single)
$2,500

up to $160,000 taxable income  (Married Filing Jointly)
$2,500




Child credit





Child tax credit (Child less than 17)
$2,500

Child and dependent care credit
$3,000





Business mileage rate deduction


57.5c /business mile




Home Office Deduction

(up to 300 square feet)


$5/business square foot




Retirement savings deduction





401K contribution
$19,500

SEP contribution
$57,000

IRA & Roth IRA
$6,000




Tax free social security benefits





Single
$25,000

Married Filing jointly
$32,000







Foreign Earned Income Exclusion
$107,600












USA Federal Tax rates & Tax credits (2020 Tax Year)

Les barèmes d'imposition & déductions fiscales (Année fiscale 2020)