{"id":158,"date":"2019-12-18T07:56:15","date_gmt":"2019-12-18T07:56:15","guid":{"rendered":"https:\/\/www.mckaytax.com\/blog\/?p=158"},"modified":"2019-12-16T22:03:04","modified_gmt":"2019-12-16T22:03:04","slug":"how-your-tax-rates-have-changed-from-2019-to-2020","status":"publish","type":"post","link":"https:\/\/www.mckaytax.com\/blog\/how-your-tax-rates-have-changed-from-2019-to-2020\/","title":{"rendered":"How Your Tax Rates Have Changed from 2019 to 2020"},"content":{"rendered":"

Taxes change from year to year, and for some, it may seem entirely different while others may view it as almost the same.\u00a0 That’s why we thought we’d put together a little list of what changes to expect for your 2020 taxes.<\/p>\n

First, let’s review what your tax rates are for 2019.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

2019 federal income tax brackets<\/h2>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

For taxes due in April 2020, or in October 2020 with an extension<\/b><\/a><\/h3>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Tax rate<\/td>\nSingle<\/td>\nMarried, filing jointly<\/td>\nMarried, filing separately<\/td>\nHead of household<\/td>\n<\/tr>\n
Standard Deduction<\/td>\n\u00a012,200<\/td>\n\u00a024,400<\/td>\n\u00a012,200<\/td>\n\u00a018,350<\/td>\n<\/tr>\n
10%<\/td>\n$0 to $9,700<\/td>\n$0 to $19,400<\/td>\n$0 to $9,700<\/td>\n$0 to $13,850<\/td>\n<\/tr>\n
12%<\/td>\n$9,701 to $39,475<\/td>\n$19,401 to $78,950<\/td>\n$9,701 to $39,475<\/td>\n$13,851 to $52,850<\/td>\n<\/tr>\n
22%<\/td>\n$39,476 to $84,200<\/td>\n$78,951 to $168,400<\/td>\n$39,476 to $84,200<\/td>\n$52,851 to $84,200<\/td>\n<\/tr>\n
24%<\/td>\n$84,201 to $160,725<\/td>\n$168,401 to $321,450<\/td>\n$84,201 to $160,725<\/td>\n$84,201 to $160,700<\/td>\n<\/tr>\n
32%<\/td>\n$160,726 to $204,100<\/td>\n$321,451 to $408,200<\/td>\n$160,726 to $204,100<\/td>\n$160,701 to $204,100<\/td>\n<\/tr>\n
35%<\/td>\n$204,101 to $510,300<\/td>\n$408,201 to $612,350<\/td>\n$204,101 to $306,175<\/td>\n$204,101 to $510,300<\/td>\n<\/tr>\n
37%<\/td>\n$510,301 or more<\/td>\n$612,351 or more<\/td>\n$306,176 or more<\/td>\n$510,301 or more<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Now, here are the tax rates and changes you can expect for 2020.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

2020 federal income tax brackets<\/h2>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

For taxes due in April 2021<\/h3>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Tax rate<\/td>\nSingle<\/td>\nMarried, filing jointly<\/td>\nMarried, filing separately<\/td>\nHead of household<\/td>\n<\/tr>\n
Standard Deduction<\/td>\n\u00a012,400<\/td>\n\u00a024,800<\/td>\n\u00a012,400<\/td>\n\u00a018,650<\/td>\n<\/tr>\n
10%<\/td>\n$0 to $9,875<\/td>\n$0 to $19,750<\/td>\n$0 to $9,875<\/td>\n$0 to $14,100<\/td>\n<\/tr>\n
12%<\/td>\n$9,876 to $40,125<\/td>\n$19,751 to $80,250<\/td>\n$9,876 to $40,125<\/td>\n$14,101 to $53,700<\/td>\n<\/tr>\n
22%<\/td>\n$40,126 to $85,525<\/td>\n$80,251 to $171,050<\/td>\n$40,126 to $85,525<\/td>\n$53,701 to $85,500<\/td>\n<\/tr>\n
24%<\/td>\n$85,526 to $163,300<\/td>\n$171,051 to $326,600<\/td>\n$85,526 to $163,300<\/td>\n$85,501 to $163,300<\/td>\n<\/tr>\n
32%<\/td>\n$163,301 to $207,350<\/td>\n$326,601 to $414,700<\/td>\n$163,301 to $207,350<\/td>\n$163,301 to $207,350<\/td>\n<\/tr>\n
35%<\/td>\n$207,351 to $518,400<\/td>\n$414,701 to $622,050<\/td>\n$207,351 to $311,025<\/td>\n$207,351 to $518,400<\/td>\n<\/tr>\n
37%<\/td>\n$518,401 or more<\/td>\n$622,051 or more<\/td>\n$311,026 or more<\/td>\n$518,401 or more<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

If you have any questions about these changes or additional changes from year to year, hop over to our Contact<\/a> page and reach out to us.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taxes change from year to year, and for some, it may seem entirely different while others may view it as almost the same.\u00a0 That’s why we thought we’d put together a little list of what changes to expect for your 2020 taxes. First, let’s review what your tax rates are for 2019. 2019 federal income … <\/p>\n

Continue reading “How Your Tax Rates Have Changed from 2019 to 2020”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":161,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,15],"tags":[],"_links":{"self":[{"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/posts\/158"}],"collection":[{"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/comments?post=158"}],"version-history":[{"count":3,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/posts\/158\/revisions"}],"predecessor-version":[{"id":162,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/posts\/158\/revisions\/162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/media\/161"}],"wp:attachment":[{"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/media?parent=158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/categories?post=158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mckaytax.com\/blog\/wp-json\/wp\/v2\/tags?post=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}