KJE.Default.TaxRate=24;KJE.Default.TaxRateRetire=22;KJE.Default.TaxRateCapGain=15;KJE.Default.StateTaxRate=8;KJE.Default.IncomeTaxTableCurrent="Use the ‘Filing Status and Federal Income Tax Rates on Taxable Income’ table to assist you in estimating your federal tax rate.
Tax Rate | Married Filing Jointly or Qualified Widow(er) | Single | Head of Household | Married Filing Separately |
---|---|---|---|---|
10% | $0 - $22,000 | $0 - $11,000 | $0 - $15,700 | $0 - $11,000 |
12% | $22,000 - $89,450 | $11,000 - $44,725 | $15,700 - $59,850 | $11,000 - $44,725 |
22% | $89,450 - $190,750 | $44,725 - $95,375 | $59,850 - $95,350 | $44,725 - $95,375 |
24% | $190,750 - $364,200 | $95,375 - $182,100 | $95,350 - $182,100 | $95,375 - $182,100 |
32% | $364,200 - $462,500 | $182,100 - $231,250 | $182,100 - $231,250 | $182,100 - $231,250 |
35% | $462,500 - $693,750 | $231,250 - $578,125 | $231,250 - $578,125 | $231,250 - $346,875 |
37% | Over $693,750 | Over $578,125 | Over $578,125 | Over $346,875 |
*Caution: Do not use these tax rate schedules to figure 2022 taxes. Use only to figure 2023 estimates. Source: Rev. Proc. 2022-45 |
Filing Status | Standard Deduction |
---|---|
Married Filing Joint | $27,700 |
Qualified Widow(er) | $27,700 |
Single | $13,850 |
Heads of Household | $20,800 |
Married Filing Separately | $13,850 |
Tax Rate | Married Filing Jointly or Qualified Widow(er) | Single | Head of Household | Married Filing Separately |
---|---|---|---|---|
0% | $0 - $89,250 | $0 - $44,625 | $0 - $59,750 | $0 - $44,625 |
15% | $89,250 - $553,850 | $44,625 - $492,300 | $59,750 - $523,050 | $44,625 - $276,900 |
20% | Over $553,850 | Over $523,050 | Over $492,300 | Over $276,900 |
*Caution: Do not use these tax rate schedules to figure 2022 taxes. Use only to figure 2023 estimates. Source: Rev. Proc. 2022-45 |
Tax Rate | Married Filing Jointly or Qualified Widow(er) | Single | Head of Household | Married Filing Separately |
---|---|---|---|---|
10% | $0 - $20,550 | $0 - $10,275 | $0 - $14,650 | $0 - $10,275 |
12% | $20,550 - $83,550 | $10,275 - $41,775 | $14,650 - $55,900 | $10,275 - $41,775 |
22% | $83,550 - $178,150 | $41,775 - $89,075 | $55,900 - $89,050 | $41,775 - $89,075 |
24% | $178,150 - $340,100 | $89,075 - $170,050 | $89,050 - $170,050 | $89,075 - $170,050 |
32% | $340,100 - $431,900 | $170,050 - $215,950 | $170,050 - $215,950 | $170,050 - $215,950 |
35% | $431,900 - $647,850 | $215,950 - $539,900 | $215,950 - $539,900 | $215,950 - $323,925 |
37% | Over $647,850 | Over $539,900 | Over $539,900 | Over $323,925 |
*Caution: Do not use these tax rate schedules to figure 2021 taxes. Use only to figure 2022 estimates. Source: Rev. Proc. 2021-45 |
Filing Status | Standard Deduction |
---|---|
Married Filing Joint | $25,900 |
Qualified Widow(er) | $25,900 |
Single | $12,950 |
Heads of Household | $19,400 |
Married Filing Separately | $12,950 |
Tax Rate | Married Filing Jointly or Qualified Widow(er) | Single | Head of Household | Married Filing Separately |
---|---|---|---|---|
0% | $0 - $83,350 | $0 - $41,675 | $0 - $55,800 | $0 - $41,675 |
15% | $83,350 - $517,200 | $41,675 - $459,750 | $55,800 - $488,500 | $41,675 - $258,600 |
20% | Over $517,200 | Over $488,500 | Over $459,750 | Over $258,600 |
*Caution: Do not use these tax rate schedules to figure 2021 taxes. Use only to figure 2022 estimates. Source: Rev. Proc. 2021-45 |
2023 | 2022 | Change | |
---|---|---|---|
HSA Contribution Limit | Single: $3,850 Family: $7,750 | Single: $3,650 Family: $7,300 | Single: +$200 Family: +$450 |
HSA catch-up contributions* | $1,000 | $1,000 | No change, not indexed to inflation |
HDHP minimum deductible | Single: $1,500 Family: $3,000 | Single: $1,400 Family: $2,800 | Self-only: +$100 Family: +$200 |
HDHP maximum out-of-pocket** | Single: $7,500 Family: $15,000 | Single: $7,050 Family: $14,100 | Single: +$450 Family: +$900 |
*Catch-up contributions can be made anytime during the year in which the participant turns 55. **This includes deductible amount, co-payments and other non-premium payments. |
Please note, you are no longer eligible to make HSA contributions starting in the first month that you are eligible for and enrolled in Medicare Part A or B.
Source and complete details on HSAs you may wish review: About Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans";KJE.definitions.set("**HSA_LIMITS_DEFINITION**",KJE.Default.HSALimitsDefinition);KJE.definitions.set("**HSA_MINDEDUCTIBLE_DEFINITION**","In 2023, for a HDHP, the minimum deductible amount is $1,500 for self-only coverage and $3,000 for family coverage.");KJE.definitions.set("**HSA_OUTOFPOCKET_DEFINITION**","For 2023, the HSA out-of-pocket maximum is $7,500 for self only coverage and $15,000 for family coverage.");KJE.definitions.set("**HSA_MAXIMUMCONTRIBUTION_DEFINITION**","For 2023, the maximum contribution to an HSA is $3,850 for self-only coverage and $7,750 for family coverage.");KJE.HSAvsTraditionalCalc=function(){this.MSG_ERROR1="Annual deductible must be less than your maximum out of pocket expense.";this.MONTHLY_PREMIUM=KJE.FloatArray(2);this.ANNUAL_DEDUCTIBLE=KJE.FloatArray(2);this.MAXIMUM_ANNUAL_OUT_OF_POCKET=KJE.FloatArray(2);this.OTHER_EXPENSE=KJE.FloatArray(2);this.CO_INSURANCE=KJE.FloatArray(2);this.CO_PAY=KJE.FloatArray(2);this.CO_PAYDOC=KJE.FloatArray(2);this.HSA_CONTRIBUTIONS=KJE.FloatArray(2);this.bIncludCopaysInMaxOOP=KJE.parameters.get("INCLUDE_COPAYS_IN_OUTOFPOCKET_TOTAL",true);this.AVG_COST_PRESCRIPTIONS=KJE.parameters.get("AVG_COST_PRESCRIPTIONS",50);this.AVG_COST_DOCTOR_VISITS=KJE.parameters.get("AVG_COST_DOCTOR_VISITS",50);this.ANNUAL_PREMIUM=KJE.FloatArray(3);this.ESTIMATED_MEDICAL_EXPENSES=KJE.FloatArray(3);this.ESTIMATED_HSA_WITHDRAWALS=KJE.FloatArray(3);this.ESTIMATED_HSA_TAX_SAVINGS=KJE.FloatArray(3);this.TOTAL_ANNUAL_COST=KJE.FloatArray(3);this.TOTAL_MONTHLY_COST=KJE.FloatArray(3);this.HSA_UNUSED_BALANCE=0;this.bUseCopay=[false,true];this.MSG_HSA_BALANCE=[KJE.parameters.get("MSG_HSA_BALANCE1","Your entire HSA_CONTRIBUTIONS1 HSA contribution can be paid from HDHP qualified plan premium savings."),KJE.parameters.get("MSG_HSA_BALANCE2","Your HSA_CONTRIBUTIONS1 HSA contribution can be paid in part from HDHP qualified plan premium savings.")];this.DS_NEW=KJE.FloatArray(2);this.cats=[KJE.parameters.get("MSG_GRAPHCAT1","HSA"),KJE.parameters.get("MSG_GRAPHCAT2","Traditional")]};KJE.HSAvsTraditionalCalc.prototype.clear=function(){var b=this.MONTHLY_PREMIUM.length;for(var a=0;aA[x]){throw (this.MSG_ERROR1)}q[x]=m[x]*12;n=(e[x]?0:f*w+u*v)+r[x];var p=(e[x]?f*C[x]+v*d[x]:0);if(n In order to put money into an HSA you are required to have a High Deductible Health Plan (HDHP) in effect for either you or your family. A HDHP is simply health insurance that meets certain minimum deductible and maximum out-of-pocket expense requirements. **HSA_LIMITS_DEFINITION** A HDHP with a HSA could save you TOTAL_MONTHLY_COST3 per month.
MSG_HSA_BALANCE Your unused HSA account balance is HSA_UNUSED_BALANCE for the year which rolls over to next year, tax-free (state taxes may vary). **GRAPH** Annual prescriptions ANNUAL_PRESCRIPTIONS Annual doctor visits ANNUAL_DOCTOR_VISITS Marginal income tax rate MARGINAL_INCOME_TAX_RATE HDHP Qualified Plan Traditional Health Plan Monthly premium MONTHLY_PREMIUM1 MONTHLY_PREMIUM2 Annual deductible ANNUAL_DEDUCTIBLE1 ANNUAL_DEDUCTIBLE2 Maximum annual out-of-pocket MAXIMUM_ANNUAL_OUT_OF_POCKET1 MAXIMUM_ANNUAL_OUT_OF_POCKET2 Co-pay for prescriptions CO_PAY1 CO_PAY2 Co-pay for doctor visits CO_PAYDOC1 CO_PAYDOC2 Other expenses OTHER_EXPENSE1 OTHER_EXPENSE2 Co-insurance CO_INSURANCE1 CO_INSURANCE2 HSA Contributions HSA_CONTRIBUTIONS1 HSA_CONTRIBUTIONS2 HDHP Qualified Plan Traditional Health Plan Difference Annual premium ANNUAL_PREMIUM1 ANNUAL_PREMIUM2 ANNUAL_PREMIUM3 Estimated medical expenses ESTIMATED_MEDICAL_EXPENSES1 ESTIMATED_MEDICAL_EXPENSES2 ESTIMATED_MEDICAL_EXPENSES3 Estimated HSA withdrawals ESTIMATED_HSA_WITHDRAWALS1 ESTIMATED_HSA_WITHDRAWALS2 ESTIMATED_HSA_WITHDRAWALS3 Estimated HSA tax savings ESTIMATED_HSA_TAX_SAVINGS1 ESTIMATED_HSA_TAX_SAVINGS2 ESTIMATED_HSA_TAX_SAVINGS3 Total annual cost TOTAL_ANNUAL_COST1 TOTAL_ANNUAL_COST2 TOTAL_ANNUAL_COST3 Total monthly cost TOTAL_MONTHLY_COST1 TOTAL_MONTHLY_COST2 TOTAL_MONTHLY_COST3 Unused HSA Account Balance* HSA_UNUSED_BALANCE $0 HSA_UNUSED_BALANCE