TAX RATES
2019 Tax Rates Schedule X – Single
If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $9,700 | 10% of the taxable amount |
| $9,700 | $39,475 | $970.00 plus 12% of the excess over $9,700 |
| $39,475 | $84,200 | $4,543.00 plus 22% of the excess over $39,475 |
| $84,200 | $160,725 | $14,382.50 plus 24% of the excess over $84,200 |
| $160,725 | $204,100 | $32,748.50 plus 32% of the excess over $160,725 |
| $204,100 | $510,300 | $46,628.50 plus 35% of the excess over $204,100 |
| $510,300 | no limit | $153,798.50 plus 37% of the excess over $510,300 |
2019 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)
If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $19,400 | 10% of the taxable amount |
| $19,400 | $78,950 | $1,940.00 plus 12% of the excess over $19,400 |
| $78,950 | $168,400 | $9,086.00 plus 22% of the excess over $78,950 |
| $168,400 | $321,450 | $28,765.00 plus 24% of the excess over $168,400 |
| $321,450 | $408,200 | $65,497.00 plus 32% of the excess over $321,450 |
| $408,200 | $612,350 | $164,709.50 plus 35% of the excess over $408,200 |
| $612,350 | no limit | $153,798.50 plus 37% of the excess over $612,350 |
2019 Tax Rates Schedule Y-2 – Married Filing Separately
If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $9,700 | 10% of the taxable amount |
| $9,700 | $39,475 | $970.00 plus 12% of the excess over $9,700 |
| $39,475 | $84,200 | $4,543.00 plus 22% of the excess over $39,475 |
| $84,200 | $160,725 | $14,382.50 plus 24% of the excess over $84,200 |
| $160,725 | $204,100 | $32,748.50 plus 32% of the excess over $160,725 |
| $204,100 | $306,175 | $46,628.50 plus 35% of the excess over $204,100 |
| $306,175 | no limit | $82,354.75 plus 37% of the excess over $306,175 |
2019 Tax Rates Schedule Z – Head of Household
If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $13,850 | 10% of the taxable amount |
| $13,850 | $52,850 | $1,385.00 plus 12% of the excess over $13,850 |
| $52,850 | $84,200 | $6,065.00 plus 22% of the excess over $52,850 |
| $84,200 | $160,700 | $12,962.00 plus 24% of the excess over $84,200 |
| $160,700 | $204,100 | $31,322.00 plus 32% of the excess over $160,700 |
| $204,100 | $510,300 | $45,210.00 plus 35% of the excess over $204,100 |
| $510,300 | no limit | $152,380.00 plus 37% of the excess over $510,300 |
2019 Tax Rates Estates & Trusts
If taxable income is over | But not over | The tax is |
|---|---|---|
| $0 | $2,600 | 10% of the taxable income |
| $2,600 | $9,300 | $260.00 plus 24% of the excess over $2,600 |
| $9,300 | $12,750 | $1,868.00 plus 35% of the excess over $9,300 |
| $12,750 | no limit | $3,075.50 plus 37% of the excess over $12,750 |
Social Security 2019 Tax Rates
| Base Salary | $132,900 |
| Social Security Tax Rate | 6.20% |
| Maximum Social Security Tax | $8,239.80 |
| Medicare Base Salary | unlimited |
| Medicare Tax Rate | 1.45% |
Additional Medicare 2019 Tax Rates
| Additional Medicare Tax | 0.90% |
| Filing status | Compensation over |
| Married filing jointly | $250,000 |
| Married filing separate | $125,000 |
| Single | $200,000 |
| Head of household (with qualifying person) | $200,000 |
| Qualifying widow(er) with dependent child | $200,000 |
Education 2019 Credit and Deduction Limits
| American Opportunity Tax Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
Miscellaneous 2019 Tax Rates
| Standard Deduction: | |
| $24,400 |
| $18,350 |
| $12,200 |
| Business Equipment Expense Deduction | $1,020,000 |
| 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/moving driving | 20 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 per qualifying child |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain up to $78,750 for joint filers and surviving spouses, $52,750 for heads of household, $39,375 for single filers, $39,375 for married taxpayers filing separately, and $2,650 for estates and trusts | 0% |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over the amount subject to the 0% rate, and up to $488,850 for joint filers and surviving spouses, $461,700 for heads of household, $434,550 for single filers, $244,425 for married taxpayers filing separately, and $12,950 for estates and trusts | 15% |
| Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $488,850 for joint filers and surviving spouses, $461,700 for heads of household, $434,550 for single filers, $244,425 for married taxpayers filing separately, and $12,950 for estates and trusts | 20% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles and qualified small business stock | 28% |
| 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 IRA | 25% of compensation up to $55,000 |
| 401(k) maximum employee contribution limit | $19,000 if under age 50 $25,000 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $11,400,000 |
| Annual Exclusion for Gifts | $15,000 |
| Foreign Earned Income Exclusion | $105,900 |
