2019 INCOME TAX RATES & INFORMATION
Marginal Ordinary Income Tax Rates
Single
| Rate |
From |
To |
| 10% |
0 |
9,700 |
| 12% |
9,701 |
39,475 |
| 22% |
39,476 |
84,200 |
| 24% |
84,201 |
160,725 |
| 32% |
160,726 |
204,100 |
| 35% |
204,101 |
510,300 |
| 37% |
510,301 |
|
|
Head of Household
| Rate |
From |
To |
| 10% |
0 |
13,850 |
| 12% |
13,851 |
52,850 |
| 22% |
52,851 |
84,200 |
| 24% |
84,201 |
160,700 |
| 32% |
160,701 |
204,100 |
| 35% |
204,101 |
510,300 |
| 37% |
510,301 |
|
|
Married Filing Jointly *
| Rate |
From |
To |
| 10% |
0 |
19,400 |
| 12% |
19,401 |
78,950 |
| 22% |
78,951 |
168,400 |
| 24% |
168,401 |
321,450 |
| 32% |
321,451 |
408,200 |
| 35% |
408,201 |
612,350 |
| 37% |
612,351 |
|
|
Married Filing Separately
| Rate |
From |
To |
| 10% |
0 |
9,700 |
| 12% |
9,701 |
39,475 |
| 22% |
39,476 |
84,200 |
| 24% |
84,201 |
160,725 |
| 32% |
160,726 |
204,100 |
| 35% |
204,101 |
306,175 |
| 37% |
306,176 |
|
|
* Including Qualifying Widow(er)
Standard Deduction
| Filing Status |
Amount |
| Single |
$12,200 |
| Head of Household |
$18,350 |
| Married Filing Joint/Qualifying Widow(er) |
$24,400 |
| Married Filing Separately |
$12,200 |
| |
|
| Additional Standard Deduction if Blind or
Age 65+ |
Estimated
Amount |
| Single |
$1,650 |
| Head of Household |
$1,650 |
| Married Filing Joint/Qualifying Widow(er) |
$1,300 |
| Married Filing Separately |
$1,300 |
| |
|
| Standard Deduction for Dependents |
|
| Regular amount |
$1,100 |
| Maximum amount is earned income plus $350
up to
allowed standard deduction based on filing status |
|
Personal Exemptions
For 2019-2025, the personal exemption has been suspended; personal exemption is $0.
Phaseout of Personal Exemptions for 2019
| 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 |
Child Tax Credit
The child tax credit is $2,000 per qualifying child.
The refundable portion (additional child tax credit) is $1,400.
The credit begins to phase-out at modified adjusted income of
$400,000 for married filing joint ($200,000 for all others).
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-$39,375 |
$0-$78,750 |
$0-$52,750 |
$0-$39,375 |
| 15% |
$39,376-$434,550 |
$78,751-$488,850 |
$52,751-$461,700 |
$39,376,-$244,425 |
| 20% |
$434,551+ |
$488,851+ |
$461,701+ |
$244,426+ |
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
