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Scarlet Oak Financial Services

Faye Sykes, CLTC, NSSA
CEO & Independent Advisor
1117 Perimeter Center West
Suite W-212
Atlanta, GA 30338
800-871-1219
fsykes@scarletoakfs.com
www.scarletoakfs.com View Bio

Faye Sykes's Profile Picture

January 15, 2024

SOFS 2024 Key Numbers (Links Version)
 

2023 Federal Income Tax Rate Schedules (Individuals, Trusts, and Estates)

Single taxpayers

If taxable income is:Your tax is:
Not over $11,000 10% of taxable income
Over $11,000 to $44,725 $1,100 + 12% of the excess over $11,000
Over $44,725 to $95,375 $5,147 + 22% of the excess over $44,725
Over $95,375 to $182,100 $16,290 + 24% of the excess over $95,375
Over $182,100 to $231,250 $37,104 + 32% of the excess over $182,100
Over $231,250 to $578,125 $52,832 + 35% of the excess over $231,250
Over $578,125 $174,238.25 + 37% of the excess over $578,125

Married filing jointly and surviving spouses

If taxable income is:Your tax is:
Not over $22,000 10% of taxable income
Over $22,000 to $89,450 $2,200 + 12% of the excess over $22,000
Over $89,450 to $190,750 $10,294 + 22% of the excess over $89,450
Over $190,750 to $364,200 $32,580 + 24% of the excess over $190,750
Over $364,200 to $462,500 $74,208 + 32% of the excess over $364,200
Over $462,500 to $693,750 $105,664 + 35% of the excess over $462,500
Over $693,750 $186,601.50 + 37% of the excess over $693,750

Married individuals filing separately

If taxable income is:Your tax is:
Not over $11,000 10% of taxable income
Over $11,000 to $44,725 $1,100 + 12% of the excess over $11,000
Over $44,725 to $95,375 $5,147 + 22% of the excess over $44,725
Over $95,375 to $182,100 $16,290 + 24% of the excess over $95,375
Over $182,100 to $231,250 $37,104 + 32% of the excess over $182,100
Over $231,250 to $346,875 $52,832 + 35% of the excess over $231,250
Over $346,875 $93,300.75 + 37% of the excess over $346,875

Heads of household

If taxable income is:Your tax is:
Not over $15,700 10% of taxable income
Over $15,700 to $59,850 $1,570 + 12% of the excess over $15,700
Over $59,850 to $95,350 $6,868 + 22% of the excess over $59,850
Over $95,350 to $182,100 $14,678 + 24% of the excess over $95,350
Over $182,100 to $231,250 $35,498 + 32% of the excess over $182,100
Over $231,250 to $578,100 $51,226 + 35% of the excess over $231,250
Over $578,100 $172,623.50 + 37% of the excess over $578,100

Trusts and estates

If taxable income is:Your tax is:
Not over $2,900 10% of taxable income
Over $2,900 to $10,550 $290 + 24% of the excess over $2,900
Over $10,550 to $14,450 $2,126 + 35% of the excess over $10,550
Over $14,450 $3,491 + 37% of the excess over $14,450
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Broadridge Investor Communication Solutions, Inc. prepared this material for use by Scarlet Oak Financial Services.

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 individual circumstances. Scarlet Oak Financial Services provides these materials 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.

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This communication is strictly intended for individuals residing in the state(s) of AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VI, VA, WA, WV, WI and WY. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2024.