| |||
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 | ||
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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 $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% |
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 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 |
Maximum employee contribution to SIMPLE IRA | $13,000 if under age 50 |
Maximum Contribution to SEP IRA | 25% of eligible compensation |
401(k) maximum employee contribution limit | $19,000 if under age 50 |
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 | Â |
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 | |
