Tax Rates

Tax Rates

2018 Tax Rates

  • Single Taxpayers

    The Standard Deduction is $12,000.

    $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%
  • Married Jointly & Surviving Spouses

    The standard deduction is $24,000.

    $0 to $19,05010%
    $19,051 to $77,40012%
    $77,401 to $165,00022%
    $165,001 to $315,00024%
    $315,001 to $400,00032%
    $400,001 to $600,00035%
    $600,001 or more37%
  • Married Filing Separately

    The standard deduction is $12,000.

    $0 to $9,52510%
    $9,526 to $38,70012%
    $38,701 to $82,50022%
    $82,501 to $157,50024%
    $157,501 to $200,00032%
    $200,001 to $300,00035%
    $300,001 or more37%
  • Head of Household

    The standard deduction is $18,000.

    $0 to $13,60010%
    $13,601 to $51,80012%
    $51,801 to $82,50022%
    $82,501 – $157,50024%
    $157,501 to $200,00032%
    $200,001 to $500,00035%
    $500,001 or more37%
  • Estates & Trusts

    $0 to $2,55015%
    $2,550 to $5,95025%
    $5,950 to $9,05028%
    $9,050 to $12,40033%
    Over $12,40039.6%

Special Rates, Credits and Deductions

  • Social Security

    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

    Education

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

    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