Tax Rates
2019
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10% |
0 to $9,700 |
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12% |
$9,700 to $39,475 |
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22% |
$39,475 to $84,200 |
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24% |
$84,200 to $160,725 |
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32% |
$160,725 to $204,100 |
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35% |
$204,100 to $510,300 |
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37% |
Over $510,300 |
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2019 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $24,400 |
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10% |
0 to $19,400 |
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12% |
$19,400 to $78,950 |
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22% |
$78,950 to $168,400 |
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24% |
$168,400 to $321,450 |
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32% |
$321,450 to $408,200 |
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35% |
$408,200 to $612,350 |
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37% |
Over $612,350 |
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2019 Tax Rates – Married Filing Separately – Standard Deduction $12,200 |
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10% |
0 to $9,700 |
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12% |
$9,700 to $39,475 |
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22% |
$39,475 to $84,200 |
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24% |
$84,200 to $160,725 |
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32% |
$160,725 to $204,100 |
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35% |
$204,100 to $306,175 |
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37% |
Over $306,175 |
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2019 Tax Rates – Head of Household – Standard Deduction $18,350 |
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10% |
0 to $13,850 |
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12% |
$13,850 to $52,850 |
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22% |
$52,850 to $84,200 |
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24% |
$84,200 to $160,700 |
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32% |
$160,700 to $204,100 |
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35% |
$204,100 to $510,300 |
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37% |
Over $510,300 |
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2019 Tax Rates – Estates & Trusts |
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10% |
0 to $2,600 |
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24% |
$2,600 to $9,300 |
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35% |
$9,300 to $12,750 |
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37% |
Over $12,750 |
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Social Security |
2019 Tax Rates |
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Social Security Tax Rate: Employers |
6.2% |
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Social Security Tax Rate: Employees |
6.2% |
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Social Security Tax Rate: Self-Employed |
15.3% |
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Maximum Taxable Earnings |
$132,900 |
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Medicare Base Salary |
Unlimited |
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Medicare Tax Rate: Employers |
1.45% |
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Medicare Tax Rate: Employees |
1.45% |
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Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) |
0.9% |
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Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) |
3.8% |
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Miscellaneous |
2019 Tax Rates |
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Business expensing limit: Cap on equipment purchases |
$2,550,000 |
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Business expensing limit: New and Used Equipment and Software |
$1,020,000 |
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Qualified Business Income threshold amount: |
$160,700 (single and head of household); $321,400 (married filing joint return) |
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Qualified Small Employer Health Reimbursement Arrangement limit: |
$5,150 (single coverage); $10,450 (family coverage) |
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Prior-year safe harbor for estimated taxes of higher-income |
110% of your 2018 tax liability |
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Standard mileage rate for business driving |
58 cents |
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Standard mileage rate for medical driving |
20 cents |
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Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station |
20 cents |
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Standard mileage rate for charitable driving |
14 cents |
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Child Tax Credit |
$2,000 |
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Unearned income maximum for children under 19 before kiddie tax applies |
$1,100 |
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Maximum capital gains tax rate for taxpayers with income up to $39,375 for single filers, $78,750 for married filing jointly |
0% |
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Maximum capital gains tax rate for taxpayers with income above $39,375 for single filers, $78,750 for married filing jointly |
15% |
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Maximum capital gains tax rate for taxpayers with income above $434,550 for single filers, $488,850 for married filing jointly |
20% |
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Capital gains tax rate for unrecaptured Sec. 1250 gains |
25% |
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Capital gains tax rate on collectibles |
28% |
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Maximum contribution for Traditional/Roth IRA |
$6,000 if under age 50 |
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Maximum employee contribution to SIMPLE IRA |
$13,000 if under age 50 |
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Maximum Contribution to SEP IRA |
25% of eligible compensation |
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401(k) maximum employee contribution limit |
$19,000 if under age 50 |
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Estate tax exemption |
$11,400,000 |
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Annual Exclusion for Gifts |
$15,000 |
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Education |
2019 Tax Rates |
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American Opportunity Credit (Hope) |
$2,500 |
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Lifetime Learning Credit |
$2,000 |
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Student Loan Interest Deduction |
$2,500 |
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Coverdell Education Savings Contribution |
$2,000 |
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Source: IRS Revenue Procedure 2018-57 |
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Standard Meal Rates for Family Child Care Providers for 2019 income tax returns |
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Continental U.S. |
2019-20 Tax Rates (July 1, 2019-June 30, 2020) |
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For each breakfast |
$1.33 |
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For each lunch or supper |
$2.49 |
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For each snack (up to 3 per day for each child) |
$0.74 |
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Alaska |
2019-20 Tax Rates (July 1, 2019-June 30, 2020) |
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For each breakfast |
$2.12 |
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For each lunch or supper |
$4.04 |
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For each snack (up to 3 per day for each child) |
$1.20 |
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Hawaii |
2019-20 Tax Rates (July 1, 2019-June 30, 2020) |
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For each breakfast |
$1.54 |
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For each lunch or supper |
$2.92 |
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For each snack (up to 3 per day for each child) |
$0.87 |
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Source: Federal Register |
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