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As we enter tax season, it’s important to know the federal tax brackets for both 2018 and 2019, and be in the loop about any changes. Let’s go over the federal tax brackets as well as the standard deduction amounts.
2018 Federal Tax Brackets
Here are the federal tax brackets for 2018 for single, married and head of household taxpayers. These tax brackets will be between 10 percent and 37 percent.
The deadline to file taxes for 2018 is Monday, April 15, 2019. If you decide to ask for an extension, note that it’s an extension to file — you’ll still need to pay your taxes by the April 15 deadline, so don’t delay!
2018 Single Taxable Income Brackets and Rates
Rate | Taxable Income Bracket | Tax Owed |
10% | $0 to $9,525 | 10% of taxable income |
12% | $9,526 to $38,700 | $952.50 + 12% of the amount over $9,525 |
22% | $38,701 to $82,500 | $4,453.50 + 22% of the amount over $38,700 |
24% | $82,501 to $157,500 | $14,089.50 + 24% of the amount over $82,500 |
32% | $157,501 to $200,000 | $32,089.50 + 32% of the amount over $157,500 |
35% | $200,001 to $500,000 | $45,689.50 + 35% of the amount over $200,000 |
37% | $500,001+ | $150,689.50 + 37% of the amount over $500,000 |
2018 Married Filing Jointly Taxable Income Brackets and Rates
Rate | Taxable Income Bracket | Tax Owed |
10% | $0 to $19,050 | 10% of taxable income |
12% | $19,051 to $77,400 | $1,905 + 12% of the amount over $19,050 |
22% | $77,401 to $165,000 | $8,907 + 22% of the amount over $77,400 |
24% | $165,001 to $315,000 | $28,179 + 24% of the amount over $165,000 |
32% | $315,001 to $400,000 | $64,179 + 32% of the amount over $315,000 |
35% | $400,001 to $600,000 | $91,379 + 35% of the amount over $400,000 |
37% | $600,000+ | $161,379 + 37% of the amount over $600,000 |
2018 Married Filing Separately Taxable Income Brackets and Rates
Rate | Taxable Income Bracket | Tax Owed |
10% | $0 to $9,525 | 10% of taxable income |
12% | $9,526 to $38,700 | $952.50 + 12% of the amount over $9,525 |
22% | $38,701 to $82,500 | $4,453.50 + 22% of the amount over $38,700 |
24% | $82,501 to $157,500 | $14,089.50 + 24% of the amount over $82,500 |
32% | $157,501 to $200,000 | $32,089.50 + 32% of the amount over $157,500 |
35% | $200,001 to $300,000 | $45,689.50 + 35% of the amount over $200,000 |
37% | $300,000+ | $80,689.50 + 37% of the amount over $300,000 |
2018 Head of Household Tax Brackets and Rates
Rate | Taxable Income Bracket | Tax Owed |
10% | $0 to $13,600 | 10% of taxable income |
12% | $13,601 to $51,800 | $1,360 + 12% of the amount over $13,600 |
22% | $51,801 to 82,500 | $5,944 + 22% of the amount over $51,800 |
24% | $82,501 to $157,500 | $12,698 + 24% of the amount over $82,500 |
32% | $157,501 to $200,000 | $30,698 + 32% of the amount over $157,500 |
35% | $200,001 to $500,000 | $44,298 + 35% of the amount over $200,000 |
37% | $500,001+ | $149,298 + 37% of the amount over $500,000 |
2018 Standard Deductions
While the personal exemption for the 2018 tax year will be nixed, the standard deduction will be bumped up $5,500 for single filers and $11,000 for married couples that are filing jointly.
2018 Standard Deduction
Filing Status | Deduction Amount |
Single | $12,000 |
Married Filing Jointly | $24,000 |
Head of Household | $18,000 |
2019 Federal Tax Brackets
In 2019, the IRS will adjust income limits, deduction amounts and credit values for all tax brackets and categories of filers for inflation.
While this happens every year, a major difference is that in the past the IRS used the Consumer Price Index (CPI) to calculate inflation. But due to the Tax Cuts and Jobs Act of 2017, the IRS will now use the Chained Consumer Price Index (C-CPI) to make these adjustments.
2019 Single Taxable Income Brackets and Rates
Rate | Taxable Income Bracket | Tax Owed |
10% | 0 to $9,700 | 10% of taxable income |
12% | $9,701 to $39,475 | $970 + 12% of the amount over $9,700 |
22% | $39,476 to $84,200 | $4,543 + 22% of the amount over $39,475 |
24% | $84,201 to $160,725 | $14,382.50 + 24% of the amount over $84,200 |
32% | $160,726 to $204,100 | $32,478.50 + 32% of the amount over $160,725 |
35% | $204,101 to $510,300 | $46,628.50 + 35% of the amount over $204,100 |
37% | $510,301 + | $153,798.50 + 37% of the amount over $510,300 |
2019 Married Filing Jointly Taxable Income Brackets and Rates
Rate | Taxable Income Bracket | Taxes Owed |
10% | $0 to $19,400 | 10% of taxable income |
12% | $19,401 to $78,950 | $1,940 + 12% of the amount over $19,400 |
22% | $78,951 to $168,400 | $9,086 + 22% of the amount over $78,950 |
24% | $168,401 to $321,450 | $28,765 + 24% of the amount over $168,400 |
32% | $321,451 to $408,200 | $65,497 + 32% of the amount over $321,450 |
35% | $408,201 to $612,350 | $93,257 + 35% of the amount over $408,200 |
37% | $612,351 + | $164,709.50 + 37% of the amount over $612,350 |
2019 Married Filing Separately Taxable Income Brackets
Rate | Taxable Income Bracket | Taxes Owed |
10% | 0 to $9,700 | 10% of taxable income |
12% | $9,701 to $39,475 | $970 + 12% of the amount over $9,700 |
22% | $39,476 to $84,200 | $4,543 + 22% of the amount over $39,475 |
24% | $84,201 to $160,725 | $14,382.50 + 24% of the amount over $84,200 |
32% | $160,726 to $204,100 | $32,748.50 + 32% of the amount over $160,725 |
35% | $204,101 to $306,175 | $46,628.50 + 35% of the amount over $204,100 |
37% | $306,176+ | $82,354.17 + 37% of the amount over $306,175 |
2019 Head of Household Taxable Income
Rate | Taxable Income Bracket | Taxes Owed |
10% | $0 to $13,850 | 10% of taxable income |
12% | $13,851 to $52,850 | $1,385 + 12% of the amount over $13,850 |
22% | $52,851 to $84,200 | $6,065 + 22% of the amount over $52,850 |
24% | $84,201 to $160,700 | $12,962 + 24% of the amount over $84,200 |
32% | $160,701 to $204,100 | $31,322 + 32% of the amount over $160,700 |
35% | $204,101 to $510,300 | $45,210 + 35% of the amount over $204,100 |
37% | $510,301+ | $152,380 + 37% of the amount over $510,300 |
Standard Deduction and Personal Exemption
In 2019, the personal exemption remains nixed. However, the standard deduction for single filers will increase by $200. For married couples filing jointly, the standard deduction will get a $400 bump.
Filing Status | Deduction Amount |
Single | $12,200 |
Married, Filing Jointly | $24,400 |
Head of Household | $18,350 |
Qualified Business Income Deduction
Small business owners take note: The TCJA of 2017 included a 20 percent deduction for pass-through businesses. The thresholds are as follows:
Filing Status | Threshold |
Unmarried Individuals | $160,700 |
Married Filing Jointly | $321,400 |
You can speak to a representative at Bizee’s business tax service for professional advice and get assistance filing your business taxes with the IRS.
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