Tax Rates

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)

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
$13,000 $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
Over $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

 

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:

Married filing jointly or Qualifying Widow(er) $24,000
Head of household $18,000
Single or Married filing separately $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

  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)

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
$13,000 $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
Over $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

 

  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:

Married filing jointly or Qualifying Widow(er) $24,000
Head of household $18,000
Single or Married filing separately $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

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