Tax Rates

2019 Federal
Individual Income Tax Rates
Single Individuals:
Taxable Income  
Over But Not Under Tax
$0 $9,700 10%
$9,701 $39,475 12%
$39,476 $84,200 22%
$84,201 $160,725 24%
$160,726 $204,100 32%
$204,101 $510,300 35%
$510,301 And Over 37%
Joint Returns and Surviving Spouses:
Taxable Income  
Over But Not Under Tax
$0 $19,400 10%
$19,401 $78,950 12%
$78,951 $168,400 22%
$168,401 $321,450 24%
$321,451 $408,200 32%
$408,201 $612,350 35%
$612,351 And Over 37%
Heads of Households:
Taxable Income  
Over But Not Under Tax
$0 $13,850 10%
$13,851 $52,850 12%
$52,851 $84,200 22%
$84,201 $160,700 24%
$160,701 $204,100 32%
$204,101 $510,300 35%
$510,301 And Over 37%
Married Filing Separately:
Taxable Income  
Over But Not Under Tax
$0 $9,700 10%
$9,701 $39,475 12%
$39,476 $82,500 22%
$82,501 $160,725 24%
$160,726 $204,100 32%
$204,101 $306,175 35%
$306,176 And Over 37%


2019 Retirement Plan Contribution Limits
Plan Type Under Age 50 Over Age 50
401(k), 403(b), most 457, Salary Reduction SEP $19,000 $25,000
SIMPLE $13,000 $16,000
IRA (Traditional/Roth) $6,000 $7,000
Phase Outs Phase Out Range
Traditional IRA Deduction Phase Outs: Modified Adjustment Income
Married Filing Joint $103,000 $123,000
Married Filing Joint - One Spouse is Covered at Work $193,000 $203,000
Single Or Head of Household $64,000 $74,000
Married or Filing Separately   $10,000
Roth IRA Contribution Phase Outs: Modified Adjustment Income
Married Filing Joint $193,000 $23,000
Single $122,000 $137,000
Employer-sponsored plans may have additional contribution limits. Not all employer plans allow the higher contributions amount for those aged 50 and older.

The IRA limitation caps a person's combined contributions to traditional and Roth IRAs for the year.


2019 Alternate Minimum Tax (AMT) Exemptions
Unmarried Individuals $71,700
Married Filing Jointly $11,700


2019 Standard Deduction and Itemized Deduction Phaseout
Standard Deduction
Single $12,200
Married Filing Jointly $24,400
Head of Household $18,350
Married Filing Separately $12,200
 
Additional Amount for Aged or Blind
Single $1,650
Married Filing Jointly $1,300
   
Standard Deduction for Dependent
Minimum $1,100
Or Earned income plus $350
 
*There are no itemized deduction phaseouts for 2019


2019 Long-term Capital Gains
Single
Income Long-term Capital Gains Rate
$0 - $39,375 0%
$39,376 - $434,550 15%
$434,551 or more 20%
Married filing jointly
Income Long-term Capital Gains Rate
$0 - $78,750 0%
$78,751 - $488,850 15%
$488,851 or more 20%
Head of household
Income Long-term Capital Gains Rate
$0 - $52,750 0%
$52,751 - $461,700 15%
$461,701 or more 20%
Married filing separately
Income Long-term Capital Gains Rate
$0 - $39,375 0%
$39,376 - $244,425 15%
$244,426 or more 20%


Automobiles - 2019 Maximum Depreciation Deduction
Based on 100% Business Use**
Year Passenger Autos/
1st Yr Bonus
Light Trucks and Vans,
SUV's/1st Yr Bonus
1 $10,100/$18,100 $10,100/$18,100
2 $16,100 $16,100
3 $9,700 $9,700
4 and beyond $5,760 $5,760
**This limit includes claiming a §179 expense deduction. If the business use is less than 100%, you must reduce the maximum deduction above proportionately.


2019 Individual Retirement Accounts (IRAs)
Participant of Employer Retirement Plan:
Filing Status Modifed AGI Deduction
Single or Head of Household $64,000 or less Full up to limit
$64,001 - $74,000 Partial
$74,000 or more No deduction
Joint or Surviving Spouse $103,000 or less Full up to limit
$103,001 - $123,000 Partial
$123,000 or more No deduction
Married Filing Separately less than $10,000 Partial
$10,000 or more No deduction
One Spouse Participates - One Does Not:
Filing Status Modified AGI Deduction
Married Filing Jointly $193,000 or less Full up to limit
$193,001 - $203,000 Partial
$203,000 or more No Deduction
Married Filing Separately less than $10,000 Partial
$10,000 or more No deduction
If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "Single" filing status.
2017 Retirement Plan Contribution Limits
Plan Type Under Age 50 Over Age 50
IRA (Traditional & Roth) $6,000 $7,000

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