Tax Rates

/Tax Rates
Tax Rates 2020-03-06T16:52:07-06:00

2019 Tax Rates Schedule X – Single

If taxable income is over

But not over

The tax is

$0 $9,700 10%
$9,701 $39,475 12%
$39,476 $84,200 22%
$84,201 $160,725 24%
$160,726 $204,100 32%
$204,101 $510,300 35%
$510,301 no limit 37%

2019 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0 $19,400 10%
$19,401 $78,950 12%
$78,951 $168,400 22%
$168,401 $321,450 24%
$321,451 $408,200 32%
$408,201 $612,350 35%
$612,351 no limit 37%

2019 Tax Rates Schedule Y-2 – Married Filing Separately

If taxable income is over

But not over

The tax is

$0 $9,700 10%
$9,701 $39,475 12%
$39,476 $84,200 22%
$84,201 $160,725 24%
$160,726 $204,100 32%
$204,101 $306,175 35%
$306,176 no limit 37%

2019 Tax Rates Schedule Z – Head of Household

If taxable income is over

But not over

The tax is

$0 $13,850 10%
$13,851 $52,850 12%
$52,851 $84,200 22%
$84,201 $160,700 24%
$160,701 $204,100 32%
$204,101 $510,300 35%
$510,301 no limit 37%

2019 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0 $2,600 10% of the taxable income
$2,601 $9,300 $260 + 24% amount over $2,600
$9,301 $12,750 $1,868 + 35% of amount over $9,300
$12,750 no limit $3,075.50 + 37% amount over $112,750

Social Security 2019 Tax Rates

Base Salary $132,900
Social Security Tax Rate 6.20%
Maximum Social Security Tax $8,239.80
Medicare Base Salary No Limit
Medicare Tax Rate 1.45%

Additional Medicare Tax Rates

Additional Medicare Tax 0.90%
Filing Status Compensation Over
Married Filing Jointly $250,000
Married Filing Separate $125,000
Single $200,000
Head of Household (with qualifying person) $200,000
Qualifying Widow(er) with dependent child $200,000

Education 2019 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 2019 Tax Rates

Standard Deduction:
Married Filing Jointly or Qualifying Widow(er) $24,400
Head of Household $18,350
Single or Married Filing Seperately $12,200
Business Equipment Expense Deduction $1,020,000
Prior-Year Safe Harbor for Estimated Taxes of Higher-Income 110% of your 2019 tax liability
Standard Mileage Rate for Business Driving .58 cents
Standard Mileage Rate for Medical/Moving Driving .20 cents
Standard Mileage Rate for Charitable Driving .14 cents
Child Tax Credit $2,000 per qualifying child
Maximum capital gains tax rates for taxpayers with adjusted net capital up to $78,750 for joint filers and surviving spouses, $52,750 for heads of household, $39,375 for single filers, $39,375 for married taxpayers filing seperately, and $2,650 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 $488,850 for joint filers and surviving spouses, $461,700 for heads of household, $434,550 for single filers, $244,425 for married taxpayers filing seperately, and $12,950 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $488,850 for joint filers and surviving spouses, $461,700 for heads of household, $434,550 for single filers, $244,425 for married taxpayers filing seperately, and $12,950 for estates and trusts 20%
Capital gains tax rate for unrecaptured Sec. 1250 gains 25%
Capital gains tax rate on collectibles and qualifed small business stock 28%
Maximum contribution for Traditional/Roth IRA $6,000 if under age 50; $7,000 if 50 or older
Maximum employee contribution to SIMPLE IRA $13,000 if under age 50; $16,000 if 50 or older
401(k) maximum employee contribution limit $19,000 if under age 50; $25,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $11,400,000
Annual Exclusion for Gifts $15,000
Foreign Earned Income Exclusion $105,900

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
$13,600 $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
$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

Social Security 2018 Tax Rates

Base Salary $128,700
Social Security Tax Rate 6.2%
Maximum Social Security Tax $7,979.40
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2018 Tax Rates

Additional Medicare Tax 0.9%
Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

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
  • Sinlge or Married filling 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
$24,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $11,200,000
Annual Exclusion for Gifts $15,000
Foreign Earned Income Exclusion $104,100

2017 Tax Rates Schedule X – Single

If taxable income is over

But not over

The tax is

$0 $9,325 10% of the taxable amount
$9,325 $37,950 $932.50 plus 15% of the excess over $9,325
$37,950 $91,900 $5,226.25 plus 25% of the excess over $37,950
$91,900 $191,650 $18,713.75 plus 28% of the excess over $91,900
$191,650 $416,700 $46,643.75 plus 33% of the excess over $191,650
$416,700 $418,400 $120,910.25 plus 35% of the excess over $416,700
Over $418,400 no limit $121,505.25 plus 39.6% of the excess over $418,400

2017 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0 $18,650 10% of the taxable amount
$18,650 $75,900 $1,865 plus 15% of the excess over $18,650
$75,900 $153,100 $10,452.50 plus 25% of the excess over $75,900
$153,100 $233,350 $29,752.50 plus 28% of the excess over $153,100
$233,350 $416,700 $52,222.50 plus 33% of the excess over $233,350
$416,700 $470,700 $112,728 plus 35% of the excess over $416,700
$470,700 no limit $131,628 plus 39.6% of the excess over $470,700

2017 Tax Rates Schedule Y-2 – Married Filing Separately

If taxable income is over

But not over

The tax is

$0 $9,325 10% of the taxable amount
$9,325 $37,950 $932.50 plus 15% of the excess over $9,325
$37,950 $76,550 $5,226.25 plus 25% of the excess over $37,950
$76,550 $116,675 $14,876.25 plus 28% of the excess over $76,550
$116,675 $208,350 $26,111.25 plus 33% of the excess over $116,675
$208,350 $235,350 $56,364 plus 35% of the excess over $208,350
Over $235,350 no limit $65,814 plus 39.6% of the excess over $235,350

2017 Tax Rates Schedule Z – Head of Household

If taxable income is over

But not over

The tax is

$0 $13,350 10% of the taxable amount
$13,350 $50,800 $1,335 plus 15% of the excess over $13,350
$50,800 $131,200 $6,952.50 plus 25% of the excess over $50,800
$131,200 $212,500 $27,052.50 plus 28% of the excess over $131,200
$212,500 $416,700 $49,816.50 plus 33% of the excess over $212,500
$416,700 $444,550 $117,202.50 plus 35% of the excess over $416,700
$444,550 no limit $126,950 plus 39.6% of the excess over $444,550

2017 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0 $2,550 15% of the taxable income
$2,550 $6,000 $382.50 plus 25% of the excess over $2,550
$6,000 $9,150 $1,245 plus 28% of the excess over $6,000
$9,150 $12,500 $2,127 plus 33% of the excess over $9,150
$12,500 no limit $3,232.50 plus 39.6% of the excess over $12,500

Social Security 2017 Tax Rates

Base Salary $127,200
Social Security Tax Rate 6.2%
Maximum Social Security Tax $7,886.40
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2017 Tax Rates

Additional Medicare Tax 0.9%
Filing status Compensation over
Married filing jointly $250,000
Married filing separate $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

Education 2017 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 2017 Tax Rates

Personal Exemption (Adjusted Gross Income below $156,900) $4,050
Business Equipment Expense Deduction $510,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2016 tax liability
Standard mileage rate for business driving 53.5 cents
Standard mileage rate for medical/moving driving 17 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $1,000 per qualifying child
Unearned income maximum for children before kiddie tax applies $1,050
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket 0%
Maximum capital gains tax rate for taxpayers in the 25%, 28%, 33%, or 35% bracket 15%
Maximum capital gains tax rate for taxpayers in the 39.6% bracket 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 $54,000
401(k) maximum employee contribution limit $18,000 if under age 50
$24,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $5,490,000
Annual Exclusion for Gifts $14,000
Foreign Earned Income Exclusion $102,100