2018 INCOME TAX RATES & INFORMATION
Marginal Ordinary Income Tax Rates
Single
| Rate |
From |
To |
| 10% |
0 |
9,525 |
| 12% |
9,526 |
38,700 |
| 22% |
38,701 |
82,500 |
| 24% |
82,501 |
157,500 |
| 32% |
157,501 |
200,000 |
| 35% |
200,001 |
500,000 |
| 37% |
500,001 |
|
|
Head of Household
| Rate |
From |
To |
| 10% |
0 |
13,600 |
| 12% |
13,601 |
51,800 |
| 22% |
51,801 |
82,500 |
| 24% |
82,501 |
157,500 |
| 32% |
157,501 |
200,000 |
| 35% |
200,001 |
500,000 |
| 37% |
500,001 |
|
|
Married Filing Jointly *
| Rate |
From |
To |
| 10% |
0 |
19,050 |
| 12% |
19,051 |
77,400 |
| 22% |
77,401 |
165,000 |
| 24% |
165,001 |
315,000 |
| 32% |
315,001 |
400,000 |
| 35% |
400,001 |
600,000 |
| 37% |
600,001 |
|
|
Married Filing Separately
| Rate |
From |
To |
| 10% |
0 |
9,525 |
| 12% |
9,526 |
38,700 |
| 22% |
38,701 |
82,500 |
| 24% |
82,501 |
157,500 |
| 32% |
157,501 |
200,000 |
| 35% |
200,001 |
300,000 |
| 37% |
300,001 |
|
|
* Including Qualifying Widow(er)
Standard Deduction
| Filing Status |
Amount |
| Single |
$12,000 |
| Head of Household |
$18,000 |
| Married Filing Joint/Qualifying Widow(er) |
$24,000 |
| Married Filing Separately |
$12,000 |
| |
|
| Additional Standard Deduction if Blind or
Age 65+ |
Estimated
Amount |
| Single |
$1,600 |
| Head of Household |
$1,600 |
| Married Filing Joint/Qualifying Widow(er) |
$1,300 |
| Married Filing Separately |
$1,300 |
| |
|
| Standard Deduction for Dependents |
|
| Regular amount |
$1,050 |
| Maximum amount is earned income plus $350
up to
allowed standard deduction based on filing status |
|
Personal Exemptions
For 2018-2025, the personal exemption has been suspended; personal exemption is $0.
Phaseout of Personal Exemptions for 2018
| Filing Status |
Phaseout Begins |
Phaseout Ends |
| Married Filing Jointly |
N/A |
N/A |
| Qualifying Widow(er) |
N/A |
N/A |
| Head of Household |
N/A |
N/A |
| Single |
N/A |
N/A |
| Married Filing Separately |
N/A |
N/A |
Capital Gains - Long Term and Short Term
| Type of Asset |
Short-Term Tax Rate |
Long-Term Tax Rate |
Net Investment
Income Tax (NIIT) |
| Collectibles |
Ordinary Tax
Rates |
28% |
Potential 3.8% |
| Depreciation
Recapture |
Ordinary Tax
Rates |
25% |
Potential 3.8% |
| Qualified Small
Bus Stock |
Ordinary Tax
Rates |
28% after
exclusion |
Potential 3.8% |
| Other Capital
Assets |
Ordinary Tax
Rates |
(See Table
Below) |
Potential 3.8% |
| Long-Term Capital Gains |
| LTCG Rate |
Single |
Married Filing Joint |
Head of Household |
Married Filing Separately |
| 0% |
$0-$38,600 |
$0-$77,200 |
$0-$51,700 |
$0-$38,600 |
| 15% |
$38,601-$425,800 |
$77,201-$479,000 |
$51,700-$452,400 |
$38,601-$239,500 |
| 20% |
$426,801+ |
$479,001+ |
$452,400+ |
$239,500+ |
If you need tax assistance for your 1040 individual income tax return or your corporate 1120,
S-Corp 1120S, or partnership 1065 tax returns, give Jeff Jackson CPA a call at
(678) 919-1250 to schedule an appointment. You can also submit your information via the
Contact Us form and someone will call you shortly.
Jeffrey L. Jackson, CPA LLC
