|
|
2018 Tax Rates – Single Taxpayers – Standard Deduction $12,000
|
2017 Rates |
|
|
10%
|
0 to $9,525
|
|
12%
|
$9,525 to $38,700
|
|
22%
|
$38,700 to $82,500
|
|
24%
|
$82,500 to $157,500
|
|
32%
|
$157,500 to $200,000
|
|
35%
|
$200,000 to $500,000
|
|
37%
|
Over $500,000
|
|
2018 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $24,000
|
|
10%
|
0 to $19,050
|
|
12%
|
$19,050 to $77,400
|
|
22%
|
$77,400 to $165,000
|
|
24%
|
$165,000 to $315,000
|
|
32%
|
$315,000 to $400,000
|
|
35%
|
$400,000 to $600,000
|
|
37%
|
Over $600,000
|
|
2018 Tax Rates – Married Filing Separately – Standard Deduction $12,000
|
|
10%
|
0 to $9,525
|
|
12%
|
$9,525 to $38,700
|
|
22%
|
$38,700 to $82,500
|
|
24%
|
$82,500 to $157,500
|
|
32%
|
$157,500 to $200,000
|
|
35%
|
$200,000 to $300,000
|
|
37%
|
Over $300,000
|
|
2018 Tax Rates – Head of Household – Standard Deduction $18,000
|
|
10%
|
0 to $13,600
|
|
12%
|
$13,600 to $51,800
|
|
22%
|
$51,800 to $82,500
|
|
24%
|
$82,500 to $157,500
|
|
32%
|
$157,500 to $200,000
|
|
35%
|
$200,000 to $500,000
|
|
37%
|
Over $500,000
|
|
2018 Tax Rates – Estates & Trusts
|
|
10%
|
0 to $2,550
|
|
24%
|
$2,550 to $9,150
|
|
35%
|
$9,150 to $12,500
|
|
37%
|
Over $12,500
|
|
Social Security
|
2018 Tax Rates
|
|
Social Security Tax Rate: Employers
|
6.2%
|
|
Social Security Tax Rate: Employees
|
6.2%
|
|
Social Security Tax Rate: Self-Employed
|
15.3%
|
|
Maximum Taxable Earnings
|
$128,400
|
|
Medicare Base Salary
|
Unlimited
|
|
Medicare Tax Rate: Employers
|
1.45%
|
|
Medicare Tax Rate: Employees
|
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%
|
|
Miscellaneous
|
2018 Tax Rates
|
|
Business expensing limit: Cap on equipment purchases
|
$2,500,000
|
|
Business expensing limit: New and Used Equipment and Software
|
$1,000,000
|
|
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 driving
|
18 cents
|
|
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
|
|
Standard mileage rate for charitable driving
|
14 cents
|
|
Child Tax Credit
|
$2,000
|
|
Unearned income maximum for children under 19 before kiddie tax applies
|
$1,050
|
|
Maximum capital gains tax rate for taxpayers with income up to $38,600 for single filers, $77,200 for married filing jointly
|
0%
|
|
Maximum capital gains tax rate for taxpayers with income above $38,600 for single filers, $77,200 for married filing jointly
|
15%
|
|
Maximum capital gains tax rate for taxpayers with income above $425,800 for single filers, $479,000 for married filing jointly
|
20%
|
|
Capital gains tax rate for unrecaptured Sec. 1250 gains
|
25%
|
|
Capital gains tax rate on collectibles
|
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
|
$11,180,000
|
|
Annual Exclusion for Gifts
|
$15,000
|
|
Education
|
2018 Tax Rates
|
|
American Opportunity Credit (Hope)
|
$2,500
|
|
Lifetime Learning Credit
|
$2,000
|
|
Student Loan Interest Deduction
|
$2,500
|
|
Coverdell Education Savings Contribution
|
$2,000
|
|
Source: IRS
|
|
|
Standard Meal Rates for Family Child Care Providers for 2018 income tax returns
|
|
Continental U.S.
|
2018-19 Tax Rates
|
|
For each breakfast
|
$1.31
|
|
For each lunch or supper
|
$2.46
|
|
For each snack (up to 3 per day for each child)
|
$0.73
|
|
Alaska
|
2018-19 Tax Rates
|
|
For each breakfast
|
$2.09
|
|
For each lunch or supper
|
$3.99
|
|
For each snack (up to 3 per day for each child)
|
$1.19
|
|
Hawaii
|
2018-19 Tax Rates
|
|
For each breakfast
|
$1.53
|
|
For each lunch or supper
|
$2.88
|
|
For each snack (up to 3 per day for each child)
|
$0.86
|
|
Source: Federal Register
|
|
|