TAX RATES
2018 Tax Rates Schedule X – Single |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $9,525 | 10% of the taxable amount |
| $9,525 | $38,700 | $952.50 plus 12% of the excess over $9,525 |
| $38,700 | $82,500 | $4,453.50 plus 22% of the excess over $38,700 |
| $82,500 | $157,500 | $14,089.50 plus 24% of the excess over $82,500 |
| $157,500 | $200,000 | $32,089.50 plus 32% of the excess over $157,500 |
| $200,000 | $500,000 | $45,689.50 plus 35% of the excess over $200,000 |
| Over $500,000 | no limit | $150,689.50 plus 37% of the excess over $500,000 |
2018 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er) |
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If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $19,050 | 10% of the taxable amount |
| $19,050 | $77,400 | $1,905 plus 12% of the excess over $19,050 |
| $77,400 | $165,000 | $8,907 plus 22% of the excess over $77,400 |
| $165,000 | $315,000 | $28,179 plus 24% of the excess over $165,000 |
| $315,000 | $400,000 | $64,179 plus 32% of the excess over $315,000 |
| $400,000 | $600,000 | $91,379 plus 35% of the excess over $400,000 |
| $600,000 | no limit | $161,379 plus 37% of the excess over $600,000 |
2018 Tax Rates Schedule Y-2 – Married Filing Separately |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $9,525 | 10% of the taxable amount |
| $9,525 | $38,700 | $952.50 plus 12% of the excess over $9,525 |
| $38,700 | $82,500 | $4,453.50 plus 22% of the excess over $38,700 |
| $82,500 | $157,500 | $14,089.50 plus 24% of the excess over $82,500 |
| $157,500 | $200,000 | $32,089.50 plus 32% of the excess over $157,500 |
| $200,000 | $300,000 | $45,689.50 plus 35% of the excess over $200,000 |
| Over $300,000 | no limit | $80,689.50 plus 37% of the excess over $300,000 |
2018 Tax Rates Schedule Z – Head of Household |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $13,600 | 10% of the taxable amount |
| $13,600 | $51,800 | $1,360 plus 12% of the excess over $13,600 |
| $51,800 | $82,500 | $5,944 plus 22% of the excess over $51,800 |
| $82,500 | $157,500 | $12,698 plus 24% of the excess over $82,500 |
| $157,500 | $200,000 | $30,698 plus 32% of the excess over $157,500 |
| $200,000 | $500,000 | $44,298 plus 35% of the excess over $200,000 |
| $500,000 | no limit | $149,298 plus 37% of the excess over $500,000 |
2018 Tax Rates Estates & Trusts |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $2,550 | 10% of the taxable income |
| $2,550 | $9,150 | $255 plus 24% of the excess over $2,550 |
| $9,150 | $12,500 | $1,839 plus 35% of the excess over $9,150 |
| $12,500 | no limit | $3,011.50 plus 37% of the excess over $12,500 |
Social Security 2018 Tax Rates |
|
| Base Salary | $128,400 |
| Social Security Tax Rate | 6.2% |
| Maximum Social Security Tax | $7,960.80 |
| Medicare Base Salary | unlimited |
| Medicare Tax Rate | 1.45% |
Additional Medicare 2018 Tax Rates |
|
| Additional Medicare Tax | 0.9% |
| Filing status | Compensation over |
| Married filing jointly | $250,000 |
| Married filing separate | $125,000 |
| Single | $200,000 |
| Head of household (with qualifying person) | $200,000 |
| Qualifying widow(er) with dependent child | $200,000 |
Education 2018 Credit and Deduction Limits |
|
| American Opportunity Tax Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
Miscellaneous 2018 Tax Rates |
|
| Standard Deduction: | |
|
$24,000 |
|
$18,000 |
|
$12,000 |
| Business Equipment Expense Deduction | $1,000,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2017 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 | $2,000 per qualifying child |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $77,200 for joint filers and surviving spouses, $51,700 for heads of household, $38,600 for single filers, $38,600 for married taxpayers filing separately, and $2,600 for estates and trusts | 0% |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $479,000 for joint filers and surviving spouses, $452,400 for heads of household, $425,800 for single filers, $239,500 for married taxpayers filing separately, and $12,700 for estates and trusts | 15% |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $479,000 for joint filers and surviving spouses, $452,400 for heads of household, $425,800 for single filers, $239,500 for married taxpayers filing separately, and $12,700 for estates and trusts | 20% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles and qualified small business stock | 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 compensation up to $55,000 |
| 401(k) maximum employee contribution limit | $18,500 if under age 50 $24,500 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $11,180,000 |
| Annual Exclusion for Gifts | $15,000 |
| Foreign Earned Income Exclusion | $104,100 |