|
|
2019 Tax Rates – Single Taxpayers – Standard Deduction $12,200
|
2018 Rates |
|
|
10%
|
0 to $9,700
|
|
12%
|
$9,700 to $39,475
|
|
22%
|
$39,475 to $84,200
|
|
24%
|
$84,200 to $160,725
|
|
32%
|
$160,725 to $204,100
|
|
35%
|
$204,100 to $510,300
|
|
37%
|
Over $510,300
|
|
2019 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $24,400
|
|
10%
|
0 to $19,400
|
|
12%
|
$19,400 to $78,950
|
|
22%
|
$78,950 to $168,400
|
|
24%
|
$168,400 to $321,450
|
|
32%
|
$321,450 to $408,200
|
|
35%
|
$408,200 to $612,350
|
|
37%
|
Over $612,350
|
|
2019 Tax Rates – Married Filing Separately – Standard Deduction $12,200
|
|
10%
|
0 to $9,700
|
|
12%
|
$9,700 to $39,475
|
|
22%
|
$39,475 to $84,200
|
|
24%
|
$84,200 to $160,725
|
|
32%
|
$160,725 to $204,100
|
|
35%
|
$204,100 to $306,175
|
|
37%
|
Over $306,175
|
|
2019 Tax Rates – Head of Household – Standard Deduction $18,350
|
|
10%
|
0 to $13,850
|
|
12%
|
$13,850 to $52,850
|
|
22%
|
$52,850 to $84,200
|
|
24%
|
$84,200 to $160,700
|
|
32%
|
$160,700 to $204,100
|
|
35%
|
$204,100 to $510,300
|
|
37%
|
Over $510,300
|
|
2019 Tax Rates – Estates & Trusts
|
|
10%
|
0 to $2,600
|
|
24%
|
$2,600 to $9,300
|
|
35%
|
$9,300 to $12,750
|
|
37%
|
Over $12,750
|
|
Social Security
|
2019 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
|
$132,900
|
|
Medicare Base Salary
|
Unlimited
|
|
Medicare Tax Rate: Employers
|
1.45%
|
|
Medicare Tax Rate: Employees
|
1.45%
|
|
Additional Medicare Tax for income above $204,100 (single filers) or $250,000 (joint filers)
|
0.9%
|
|
Medicare tax on net investment income ($204,100 single filers, $250,000 joint filers)
|
3.8%
|
|
Miscellaneous
|
2019 Tax Rates
|
|
Business expensing limit: Cap on equipment purchases
|
$2,550,000
|
|
Business expensing limit: New and Used Equipment and Software
|
$1,020,000
|
|
Qualified Business Income threshold amount:
|
$160,700 (single and head of household); $321,400 (married filing joint return)
|
|
Qualified Small Employer Health Reimbursement Arrangement limit:
|
$5,150 (single coverage); $10,450 (family coverage)
|
|
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 driving
|
20 cents
|
|
Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station
|
20 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
|
$1,100
|
|
Maximum capital gains tax rate for taxpayers with income up to $39,375 for single filers, $78,750 for married filing jointly
|
0%
|
|
Maximum capital gains tax rate for taxpayers with income above $39,375 for single filers, $78,750 for married filing jointly
|
15%
|
|
Maximum capital gains tax rate for taxpayers with income above $434,550 for single filers, $488,850 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
|
$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
|
|
Maximum Contribution to SEP IRA
|
25% of eligible compensation
up to $56,000
|
|
401(k) maximum employee contribution limit
|
$19,000 if under age 50
$25,000 if 50 or older
|
|
Estate tax exemption
|
$11,400,000
|
|
Annual Exclusion for Gifts
|
$15,000
|
|
Education
|
2019 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 Revenue Procedure 2018-57
|
|
|
Standard Meal Rates for Family Child Care Providers for 2018 income tax returns
|
|
Continental U.S.
|
2018-19 Tax Rates (July 1, 2018-June 30, 2019)
|
|
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 (July 1, 2018-June 30, 2019)
|
|
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 (July 1, 2018-June 30, 2019)
|
|
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
|
|
|
