Quick Reference 2023

Jason Watson, CPA

2 years ago

By Jason Watson, CPA
Posted Wednesday, October 18, 2023

Single 2023

From	To	Rate	Marginal Tax	Total Tax
0	11,000	10%	1,100	1,100
11,001	44,725	12%	4,047	5,147
44,726	95,375	22%	11,143	16,290
95,376	182,100	24%	20,814	37,104
182,101*	231,250	32%	15,728	52,832
231,251	578,125	35%	121,406	174,238
578,125	forever	37%

Married Filing Jointly 2023

From	To	Rate	Marginal Tax	Total Tax
0	22,000	10%	2,200	2,200
22,001	89,450	12%	8,094	10,294
89,451	190,750	22%	22,286	32,580
190,751	364,200	24%	41,628	74,208
364,201*	462,500	32%	31,456	105,664
462,501	693,750	35%	80,938	186,602
693,751	forever	37%

* Start of Section 199A qualified business income phaseout for small business owners.

Standard Deduction Single	13,850
Standard Deduction Married Filing Joint	27,700
Social Security Wage Limit	160,200
IRA Contribution Limit	6,500 + 1,000 catch-up
Roth Income Phaseout Single	138,000
Roth Income Phaseout Married Filing Joint	218,000
401k Employee	22,500 + 7,500 catch-up
401k Employer	38,500
Max 401k Total	66,000 + 7,500 catch-up

Jason Watson, CPA, is a Senior Partner of WCG CPAs & Advisors, a boutique yet progressive tax, accounting
and business consultation firm located in Colorado serving small business owners and taxpayers worldwide.

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