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Federal Tax Brackets for 2018 and 2019

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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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