Tax Rates
2018
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10% |
0 to $9,525 |
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12% |
$9,525 to $38,700 |
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22% |
$38,700 to $82,500 |
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24% |
$82,500 to $157,500 |
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32% |
$157,500 to $200,000 |
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35% |
$200,000 to $500,000 |
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37% |
Over $500,000 |
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2018 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $24,000 |
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10% |
0 to $19,050 |
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12% |
$19,050 to $77,400 |
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22% |
$77,400 to $165,000 |
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24% |
$165,000 to $315,000 |
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32% |
$315,000 to $400,000 |
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35% |
$400,000 to $600,000 |
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37% |
Over $600,000 |
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2018 Tax Rates – Married Filing Separately – Standard Deduction $12,000 |
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10% |
0 to $9,525 |
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12% |
$9,525 to $38,700 |
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22% |
$38,700 to $82,500 |
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24% |
$82,500 to $157,500 |
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32% |
$157,500 to $200,000 |
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35% |
$200,000 to $300,000 |
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37% |
Over $300,000 |
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2018 Tax Rates – Head of Household – Standard Deduction $18,000 |
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10% |
0 to $13,600 |
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12% |
$13,600 to $51,800 |
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22% |
$51,800 to $82,500 |
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24% |
$82,500 to $157,500 |
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32% |
$157,500 to $200,000 |
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35% |
$200,000 to $500,000 |
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37% |
Over $500,000 |
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2018 Tax Rates – Estates & Trusts |
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10% |
0 to $2,550 |
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24% |
$2,550 to $9,150 |
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35% |
$9,150 to $12,500 |
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37% |
Over $12,500 |
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Social Security |
2018 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 |
$128,400 |
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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 |
2018 Tax Rates |
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Business expensing limit: Cap on equipment purchases |
$2,500,000 |
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Business expensing limit: New and Used Equipment and Software |
$1,000,000 |
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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 |
54.5 cents |
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Standard mileage rate for medical driving |
18 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 |
18 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 |
$1,050 |
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Maximum capital gains tax rate for taxpayers with income up to $38,600 for single filers, $77,200 for married filing jointly |
0% |
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Maximum capital gains tax rate for taxpayers with income above $38,600 for single filers, $77,200 for married filing jointly |
15% |
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Maximum capital gains tax rate for taxpayers with income above $425,800 for single filers, $479,000 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 |
$5,500 if under age 50 |
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Maximum employee contribution to SIMPLE IRA |
$12,500 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 |
$18,500 if under age 50 |
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Estate tax exemption |
$11,180,000 |
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Annual Exclusion for Gifts |
$15,000 |
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Education |
2018 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 |
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Standard Meal Rates for Family Child Care Providers for 2018 income tax returns |
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Continental U.S. |
2018-19 Tax Rates |
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For each breakfast |
$1.31 |
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For each lunch or supper |
$2.46 |
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For each snack (up to 3 per day for each child) |
$0.73 |
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Alaska |
2018-19 Tax Rates |
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For each breakfast |
$2.09 |
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For each lunch or supper |
$3.99 |
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For each snack (up to 3 per day for each child) |
$1.19 |
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Hawaii |
2018-19 Tax Rates |
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For each breakfast |
$1.53 |
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For each lunch or supper |
$2.88 |
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For each snack (up to 3 per day for each child) |
$0.86 |
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Source: Federal Register |
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