Tax Rates

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 Security2019 Tax Rates
Social Security Tax Rate: Employers6.2%
Social Security Tax Rate: Employees6.2%
Social Security Tax Rate: Self-Employed15.3%
Maximum Taxable Earnings$132,900
Medicare Base SalaryUnlimited
Medicare Tax Rate: Employers1.45%
Medicare Tax Rate: Employees1.45%
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%
Miscellaneous2019 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-income110% 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 driving14 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 jointly0%
Maximum capital gains tax rate for taxpayers with income above $39,375 for single filers, $78,750 for married filing jointly15%
Maximum capital gains tax rate for taxpayers with income above $434,550 for single filers, $488,850 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$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 IRA25% 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
Education2019 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
Alaska2018-19 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
Hawaii2018-19 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