Tax Rates

Know Your Tax Brackets and Tax Breaks

This is your resource for all the updated 2018 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	$128,400
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%

Business expensing limit: Cap on equipment purchases	$2,500,000
Business expensing limit: New and Used Equipment and Software	$1,000,000
Prior-year safe harbor for estimated taxes of higher-income	110% of your 2018 tax liability
Standard mileage rate for business driving	54.5 cents
Standard mileage rate for medical driving	18 cents
Standard mileage rate for moving driving - Members of the Armed Forces on active duty who move because of a permanent change of station	18 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)	$1,050
Maximum capital gains tax rate (for taxpayers with income up to $38,600 for single filers, $77,200 for married filing jointly)	0%
Maximum capital gains tax rate (for taxpayers with income above $38,600 for single filers, $77,200 for married filing jointly)	15%
Maximum capital gains tax rate (for taxpayers with income above $425,800 for single filers, $479,000 for married filing jointly)	20%
Capital gains tax rate for unrecaptured Sec. 1250 gains	25%
Maximum contribution for Traditional/Roth IRA	$5,500 if under age 50 $6,500 if 50 or older
Maximum employee contribution to SIMPLE IRA	$12,500 if under age 50 $15,500 if 50 or older
Maximum Contribution to SEP IRA	25% of eligible compensation up to $55,000
401(k) maximum employee contribution limit	$18,500 if under age 50 $24,500 if 50 or older
Estate tax exemption	$11,180,000
Annual Exclusion for Gifts	$15,000

Continental U.S. - 2018 to 2019 Tax Rates

For each breakfast	$1.31
For each supper	$2.46
For each snack (up to 3 per day for each child)	$1.19

Alaska - 2018 to 2019 Tax Rates

For each breakfast	$2.09
For each supper	$3.99
For each snack (up to 3 per day for each child)	$1.19

Hawaii - 2018 to 2019 Tax Rates

For each breakfast	$1.53
For each supper	$2.88
For each snack (up to 3 per day for each child)	$0.86

10%	0 to $9,525
12%	$9,525 to $38,700
22%	$38,700 to $82,500
24%	$82,500 to $157,500
32%	$157,500 to $200,000
35%	$200,000 to $500,000

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10%	0 to $19,050
12%	$19,050 to $77,400
22%	$77,400 to $165,000
24%	$165,000 to $315,000
32%	$315,000 to $400,000
35%	$400,000 to $600,000
37%	Over $600,000

10%	0 to $2,550
24%	$2,550 to $9,150
35%	$9,150 to $12,500
37%	Over $12,500

Tax Rates

This is your resource for all the updated 2018 tax rates

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Copyright © RiverCrest CPAs | Website by the team at Rinard Media

Copyright © 2018 RiverCrest CPAs
Website by the team at Rinard Media

American Opportunity Credit (Hope)	$2,500
Lifetime Learning Credit	$2,000
Student Loan Interest Deduction	$2,500
Coverdell Education Savings Contribution	$2,000