Tax Rates

2018 Tax Rates

These are the applicable numbers for the tax year 2018in other words, effective January 1, 2018.

 Single Taxpayers – 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 $500,000
37%Over $500,000

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

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

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

Estates & Trusts

10%0 to $2,550
24%$2,550 to $9,150
35%$9,150 to $12,500
37%Over $12,500
Social Security2018 Tax Rates
Social Security Tax Rate: Employers6.2%
Social Security Tax Rate: Employees6.2%
Social Security Tax Rate: Self-Employed15.3%
Maximum Taxable Earnings$128,400
Medicare Base SalaryUnlimited
Medicare Tax Rate: Employers1.45%
Medicare Tax Rate: Employees1.45%
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%
Miscellaneous2018 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-income110% of your 2018 tax liability
Standard mileage rate for business driving54.5 cents
Standard mileage rate for medical driving18 cents
Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station18 cents
Standard mileage rate for charitable driving14 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 jointly0%
Maximum capital gains tax rate for taxpayers with income above $38,600 for single filers, $77,200 for married filing jointly15%
Maximum capital gains tax rate for taxpayers with income above $425,800 for single filers, $479,000 for married filing jointly20%
Capital gains tax rate for unrecaptured Sec. 1250 gains25%
Capital gains tax rate on collectibles28%
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 IRA25% 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
Education2018 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

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

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