The Retirement Financial Center

Philippe E. Berthoud
10 Liberty Street
Danvers, MA 01923
978-777-5000
peberthoud@unitedplanners.com
www.retirementctr.com

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July 27, 2020

2020 Key Numbers
 

2024 Federal Income Tax Rate Schedules (Individuals, Trusts, and Estates)

Single taxpayers

If taxable income is:Your tax is:
Not over $11,600 10% of taxable income
Over $11,600 to $47,150 $1,160 + 12% of the excess over $11,600
Over $47,150 to $100,525 $5,426 + 22% of the excess over $47,150
Over $100,525 to $191,950 $17,168.50 + 24% of the excess over $100,525
Over $191,950 to $243,725 $39,110.50 + 32% of the excess over $191,950
Over $243,725 to $609,350 $55,678.50 + 35% of the excess over $243,725
Over $609,350 $183,647.25 + 37% of the excess over $609,350

Married filing jointly and surviving spouses

If taxable income is:Your tax is:
Not over $23,200 10% of taxable income
Over $23,200 to $94,300 $2,320 + 12% of the excess over $23,200
Over $94,300 to $201,050 $10,852 + 22% of the excess over $94,300
Over $201,050 to $383,900 $34,337 + 24% of the excess over $201,050
Over $383,900 to $487,450 $78,221 + 32% of the excess over $383,900
Over $487,450 to $731,200 $111,357 + 35% of the excess over $487,450
Over $731,200 $196,669.50 + 37% of the excess over $731,200

Married individuals filing separately

If taxable income is:Your tax is:
Not over $11,600 10% of taxable income
Over $11,600 to $47,150 $1,160 + 12% of the excess over $11,600
Over $47,150 to $100,525 $5,426 + 22% of the excess over $47,150
Over $100,525 to $191,950 $17,168.50 + 24% of the excess over $100,525
Over $191,950 to $243,725 $39,110.50 + 32% of the excess over $191,950
Over $243,725 to $365,600 $55,678.50 + 35% of the excess over $243,725
Over $365,600 $93,334.75 + 37% of the excess over $365,600

Heads of household

If taxable income is:Your tax is:
Not over $16,550 10% of taxable income
Over $16,550 to $63,100 $1,655 + 12% of the excess over $16,550
Over $63,100 to $100,500 $7,241 + 22% of the excess over $63,100
Over $100,500 to $191,950 $15,469 + 24% of the excess over $100,500
Over $191,950 to $243,700 $37,417 + 32% of the excess over $191,950
Over $243,700 to $609,350 $53,977 + 35% of the excess over $243,700
Over $609,350 $181,954.50 + 37% of the excess over $609,350

Trusts and estates

If taxable income is:Your tax is:
Not over $3,100 10% of taxable income
Over $3,100 to $11,150 $310 + 24% of the excess over $3,100
Over $11,150 to $15,200 $2,242 + 35% of the excess over $11,150
Over $15,200 $3,659.50 + 37% of the excess over $15,200
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IMPORTANT DISCLOSURES

Philippe E Berthoud and William E. Riquier offer Securities and Advisory Services through United Planners Financial Services, Member FINRA/SIPC. United Planners and The Retirement Financial Center are independent companies.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.



This communication is strictly intended for individuals residing in the state(s) of AZ, CA, CO, CT, FL, GA, ME, MD, MA, MT, NV, NH, NJ, NY, VA and WA. No offers may be made or accepted from any resident outside the specific states referenced.

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