2040 N Loop 336 W, Ste 101, Conroe, TX
wes@jwscompany.com
(936) 756-4421

2018 Tax Rates Schedule X – Single

If taxable income is over

But not over

The tax is

$0 $9,525 10% of the taxable amount
$9,525 $38,700 $952.50 plus 12% of the excess over $9,525
$38,700 $82,500 $4,453.50 plus 22% of the excess over $38,700
$82,500 $157,500 $14,089.50 plus 24% of the excess over $82,500
$157,500 $200,000 $32,089.50 plus 32% of the excess over $157,500
$200,000 $500,000 $45,689.50 plus 35% of the excess over $200,000
Over $500,000 no limit $150,689.50 plus 37% of the excess over $500,000

2018 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0 $19,050 10% of the taxable amount
$19,050 $77,400 $1,905 plus 12% of the excess over $19,050
$77,400 $165,000 $8,907 plus 22% of the excess over $77,400
$165,000 $315,000 $28,179 plus 24% of the excess over $165,000
$315,000 $400,000 $64,179 plus 32% of the excess over $315,000
$400,000 $600,000 $91,379 plus 35% of the excess over $400,000
$600,000 no limit $161,379 plus 37% of the excess over $600,000

2018 Tax Rates Schedule Y-2 – Married Filing Separately

If taxable income is over

But not over

The tax is

$0 $9,525 10% of the taxable amount
$9,525 $38,700 $952.50 plus 12% of the excess over $9,525
$38,700 $82,500 $4,453.50 plus 22% of the excess over $38,700
$82,500 $157,500 $14,089.50 plus 24% of the excess over $82,500
$157,500 $200,000 $32,089.50 plus 32% of the excess over $157,500
$200,000 $300,000 $45,689.50 plus 35% of the excess over $200,000
Over $300,000 no limit $80,689.50 plus 37% of the excess over $300,000

2018 Tax Rates Schedule Z – Head of Household

If taxable income is over

But not over

The tax is

$0 $13,600 10% of the taxable amount
$13,600 $51,800 $1,360 plus 12% of the excess over $13,600
$51,800 $82,500 $5,944 plus 22% of the excess over $51,800
$82,500 $157,500 $12,698 plus 24% of the excess over $82,500
$157,500 $200,000 $30,698 plus 32% of the excess over $157,500
$200,000 $500,000 $44,298 plus 35% of the excess over $200,000
$500,000 no limit $149,298 plus 37% of the excess over $500,000

2018 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0 $2,550 10% of the taxable income
$2,550 $9,150 $255 plus 24% of the excess over $2,550
$9,150 $12,500 $1,839 plus 35% of the excess over $9,150
$12,500 no limit $3,011.50 plus 37% of the excess over $12,500

Social Security 2018 Tax Rates

Base Salary $128,700
Social Security Tax Rate 6.2%
Maximum Social Security Tax $7,979.40
Medicare Base Salary unlimited
Medicare Tax Rate 1.45%

Additional Medicare 2018 Tax Rates

Additional Medicare Tax 0.9%
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 2018 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 2018 Tax Rates

Standard Deduction:
  • Married filing jointly or Qualifying Widow(er)
$24,000
  • Head of household
$18,000
  • Sinlge or Married filling separately
$12,000
Business Equipment Expense Deduction $1,000,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2017 tax liability
Standard mileage rate for business driving 54.5 cents
Standard mileage rate for medical/moving driving 18 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 $77,200 for joint filers and surviving spouses, $51,700 for heads of household, $38,600 for single filers, $38,600 for married taxpayers filing separately, and $2,600 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 $479,000 for joint filers and surviving spouses, $452,400 for heads of household, $425,800 for single filers, $239,500 for married taxpayers filing separately, and $12,700 for estates and trusts 15%
Maximum capital gains tax rate for taxpayers with adjusted net capital gain over $479,000 for joint filers and surviving spouses, $452,400 for heads of household, $425,800 for single filers, $239,500 for married taxpayers filing separately, and $12,700 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 $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 compensation up to $55,000
401(k) maximum employee contribution limit $18,500 if under age 50
$24,000 if 50 or older
Self-employed health insurance deduction 100%
Estate tax exemption $11,200,000
Annual Exclusion for Gifts $15,000
Foreign Earned Income Exclusion $104,100