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2022 Tax Reference Amounts

Here is a list of the common items that we are asked about the corresponding amounts.

Retirement Accounts

IRA Contribution Limit (Through Age 49)$6,000
IRA Contribution Limit (Age 50 and Up)$7,000
401(k) Contribution Limit (Through Age 49)$20,500
401(k) Contribution Limit (Age 50 and Up)$27,000

The phase-out limits for deducting contributions to a Traditional IRA (based on AGI):

Filing joint and active participant in employer's retirement plan$109,000 - $129,000
Filing single or head-of-household and active participant in
employer's retirement plan
$68,000 - $78,000
Married but filing separate and active participant in employer's
retirement plan
$0 - $10,000
Not active participant in employer's retirement plan but spouse
is an active participant (filing joint)
$204,000 - $214,000

There are different phase-outs for who can contribute to a Roth IRA (based on AGI):

Filing joint$198,000 - $208,000
Filing single or head-of-household$125,000 - $140,000
Married but filing separate$0 - $10,000

Social Security

Amounts related to withholding or credits:

Income subject to OASDI (SS updated this)$147,000
Income subject to MedicareNo limit
Maximum OASDI to be paid by employee (6.2%)$9,114.00
Amount to earn 1 credit (self-employed)$1,510

Maximum earnings and still receive full Social Security benefits:

Under full retirement age (prior years)
Social Security benefit reduced $1 for every $2 over limit.
$19,560/yr  $1,630/mo
Year of full retirement (only months prior to reaching full
retirement age)
Social Security benefit reduced $1 for every $3 over limit.
$51,960/yr  $4,330/mo
Full retirement ageNo limit

Medicare

Standard Part B Premium (ignoring hold-harmless provision)$170.10
Maximum 2019 income for standard Part B premium (Single)$91,000
Maximum 2019 income for standard Part B premium (Joint)$182,000

Health Saving Account (HSA) Limitations

Annual contribution limits:

Self-only Coverage (Through Age 54)$3,650
Self-only Coverage (Age 55 and Up)$4,650
Family Coverage (Through Age 54)$7,300
Family Coverage (Age 55 and Up)$8,300

Minimum annual policy deductibles:

Self-only Coverage$1,400
Family Coverage$2,800

Maximum annual deductible and out-of-pocket expense:

Self-only Coverage$7,050
Family Coverage$14,100

Mileage Rates

Business use (January 1 - June 30)58.5¢
Business use (July 1 - December 31)62.5¢
Portion of business deduction allocated to depreciation26¢
Medical and Moving (January 1 - June 30)18¢
Medical and Moving (July 1 - December 31)22¢
Charitable (statutory)14¢

Miscellaneous Items

Maximum annual gift amount$16,000
Kiddie Tax threshold (oversimplified - no earned income)$2,200


2021 Tax Reference Amounts