Tax Rates

Name: Clear Accounting Solutions
Address: 8618 NE 143rd Street, Suite 100, Kirkland, WA, 98034, United States
Telephone: +1-206-529-4955
Price range: $$

2018 Tax Rates

Single Taxpayers
Married Jointly & Surviving Spouses
Married Filing Separately
Head of Household
Estates & Trusts

Special Rates, Credits and Deductions

Social Security

Social Security Tax Rate: Employers	6.2%
Social Security Tax Rate: Employees	6.2%
Social Security Tax Rate: Self-Employed	12.4%
Maximum Taxable Earnings	$118,500
Medicare Base Salary	Unlimited
Medicare Tax Rate	1.45%
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers)	0.9%
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers)	3.8%

Education

Miscellaneous

Business expensing limit: Cap on equipment purchases	$2,500,000
Business expensing limit: New and Used Equipment and Software	$1,00,000
Prior-year safe harbor for estimated taxes of higher-income	110% of your 2018 tax liability
Standard mileage rate for business driving	54.5 cents
Standard mileage rate for medical/moving driving	18 cents
Standard mileage rate for charitable driving	14 cents
Child Tax Credit	$1,000
Unearned income maximum for children under 19 · and· children aged 19 through 23 who are full-time students and whose earned income does not exceed half of the annual expenses for their support before kiddie tax applies	$2,100
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket	0%
Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket	15%
Maximum capital gains tax rate for taxpayers in the 39.6% bracket	20%
Capital gains tax rate for unrecaptured Sec. 1250 gains	25%
Capital gains tax rate on collectibles	0%, 15%, 20%, and 28%
Maximum contribution for Traditional/Roth IRA	$5,500 if under age 50 $6,500 if 50 or older
Maximum employee contribution to SIMPLE IRA	$12,500 if under age 50 $15,500 if 50 or older
Maximum Contribution to SEP IRA	25% of eligible compensation up to $55,000
401(k) maximum employee contribution limit	$18,500 if under age 50 $24,500 if 50 or older
Estate tax exemption	$5,600,000
Annual Exclusion for Gifts	$15,000

$0 to $9,525	10%
$9,526 to $38,700	12%
$38,701 to $82,500	22%
$82,501 – $157,500	24%
$157,501 to $200,000	32%
$200,001 to $500,000	35%
$500,001 or more	37%

$0 to $19,050	10%
$19,051 to $77,400	12%
$77,401 to $165,000	22%
$165,001 to $315,000	24%
$315,001 to $400,000	32%
$400,001 to $600,000	35%
$600,001 or more	37%

$0 to $9,525	10%
$9,526 to $38,700	12%
$38,701 to $82,500	22%
$82,501 to $157,500	24%
$157,501 to $200,000	32%
$200,001 to $300,000	35%
$300,001 or more	37%

$0 to $13,600	10%
$13,601 to $51,800	12%
$51,801 to $82,500	22%
$82,501 – $157,500	24%
$157,501 to $200,000	32%
$200,001 to $500,000	35%
$500,001 or more	37%

$0 to $2,550	15%
$2,550 to $5,950	25%
$5,950 to $9,050	28%
$9,050 to $12,400	33%
Over $12,400	39.6%

American Opportunity Credit (Hope)	$2,500
Lifetime Learning Credit	$2,000
Student Loan Interest Deduction	$2,500
Coverdell Education Savings Contribution	$2,000