|
Single Taxpayers |
|
| 10% | 0 to $9,875 |
| 12% | $9,875 to $40,125 |
| 22% | $40,125 to $85,525 |
| 24% | $85,525 to $163,300 |
| 32% | $163,300 to $207,350 |
| 35% | $207,350 to $518,400 |
| 37% | Over $518,400 |
| Married Jointly & Surviving Spouses Standard Deduction $24,800 |
|
| 10% | 0 to $19,750 |
| 12% | $19,750 to $80,250 |
| 22% | $80,250 to $171,050 |
| 24% | $171,050 to $326,600 |
| 32% | $326,600 to $414,700 |
| 35% | $414,700 to $622,050 |
| 37% | Over $622,050 |
|
Married Filing Separately |
|
| 10% | 0 to $9,875 |
| 12% | $9,875 to $40,125 |
| 22% | $40,125 to $85,525 |
| 24% | $85,525 to $163,300 |
| 32% | $163,300 to $207,350 |
| 35% | $207,350 to $311,025 |
| 37% | Over $311,025 |
| Head of Household Standard Deduction $18,650 |
|
| 10% | 0 to $14,100 |
| 12% | $14,100 to $53,700 |
| 22% | $53,700 to $85,500 |
| 24% | $85,500 to $163,300 |
| 32% | $163,300 to $207,350 |
| 35% | $207,350 to $518,400 |
| 37% | Over $518,400 |
| Estates & Trusts | |
| 10% | 0 to $2,600 |
| 24% | $2,600 to $9,450 |
| 35% | $9,450 to $12,950 |
| 37% | Over $12,950 |
| Social Security | |
| Social Security Tax Rate: Employers | 6.20% |
| Social Security Tax Rate: Employees | 6.20% |
| Social Security Tax Rate: Self-Employed | 15.30% |
| Maximum Taxable Earnings | $137,700 |
| 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) | 0.90% |
| Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) | 3.80% |
| Miscellaneous | |
| Business expensing limit: Cap on equipment purchases | $2,590,000 |
| Business expensing limit: New and Used Equipment and Software | $1,040,000 |
| Qualified Business Income threshold amount | $163,300 (single and head of household); $326,600 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit | $5,250 (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 | 57.5 cents |
| Standard mileage rate for medical driving | 17 cents |
| Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station | 17 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 $40,000 for single filers, $80,000 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $40,000 for single filers, $80,000 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $441,450 for single filers, $496,600 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 | $13,500 if under age 50 $16,500 if 50 or older |
| Maximum Contribution to SEP IRA | 25% of eligible compensation up to $57,000 |
| 401(k) maximum employee contribution limit | $19,500 if under age 50 $26,000 if 50 or older |
| Estate tax exemption | $11,580,000 |
| Annual Exclusion for Gifts | $15,000 |
| Education | |
| 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 | |
| Continental U.S. | July 1, 2019 – June 30, 2020 |
| For each breakfast | $1.33 |
| For each lunch or supper | $2.49 |
| For each snack (up to 3 per day for each child) | $0.74 |
| Alaska | July 1, 2019 – June 30, 2020 |
| For each breakfast | $2.12 |
| For each lunch or supper | $4.04 |
| For each snack (up to 3 per day for each child) | $1.20 |
| Hawaii | July 1, 2019 – June 30, 2020 |
| For each breakfast | $1.54 |
| For each lunch or supper | $2.92 |
| For each snack (up to 3 per day for each child) | $0.87 |
| Source: IRS & Federal Register | |
| Single Taxpayers 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 $510,300 |
| 37% | Over $510,300 |
| 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 |
| 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 |
| 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 |
| 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 | |
| Social Security Tax Rate: Employers | 6.20% |
| Social Security Tax Rate: Employees | 6.20% |
| Social Security Tax Rate: Self-Employed | 15.30% |
| 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 $200,000 (single filers) or $250,000 (joint filers) | 0.90% |
| Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) | 3.80% |
| Miscellaneous | |
| 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 2018 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 | |
| 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 | |
| Continental U.S. | 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 | 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 | 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 |
| Sources: IRS & Federal Register | |
