Tax Rates
2018 Tax Rates
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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% -
The standard deduction is $24,000.
$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% -
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 to $157,500 24% $157,501 to $200,000 32% $200,001 to $300,000 35% $300,001 or more 37% -
The standard deduction is $18,000.
$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%
Special Rates, Credits and Deductions
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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
American Opportunity Credit (Hope) $2,500 Lifetime Learning Credit $2,000 Student Loan Interest Deduction $2,500 Coverdell Education Savings Contribution $2,000 -
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 olderMaximum employee contribution to SIMPLE IRA $12,500 if under age 50
$15,500 if 50 or olderMaximum 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 olderEstate tax exemption $5,600,000 Annual Exclusion for Gifts $15,000