Woman on Phone Tax Forms

Plan your 2018 finances with this handy tax guide. Check your filing rates, the standard deduction, exemptions and limitations, gift and estate tax exclusions, and more.

Tax strategies

Find Your Personal and Business Tax Rates for 2018

  • 2/27/2018

The 2018 tax rates went into effect on January 1, 2018, and some individual and business rates changed significantly this year due to the Tax Cuts and Jobs Act of 2017.

Download the 2018 Tax Guide

Major changes include the standard deduction, the gift and estate tax, and the kiddie tax.

Find your individual and business federal tax rates and limits in the tables below or download our print-friendly tax guide.

Filing rates

Filing status
Individual  Married Filing Jointly (MFJ) Single Married Filing Separately Head of Household
10% Up to $19,050 Up to $9,525 Up to $9,525 Up to $13,600
12% $19,051 – $77,400 $9,526 – $38,700 $9,526 – $38,700 $13,601 – $51,800
22% $77,401 – $165,000 $38,701 – $82,500 $38,701 – $82,500 $51,801 – $82,500
24% $165,001 – $315,000 $82,501 – $157,500 $82,501 – $157,500 $82,501 – $157,500
32% $315,001 – $400,000 $157,501 – $200,000 $157,501 – $200,000 $157,501 – $200,000
35% $400,001 – $600,000 $200,001 – $500,000 $200,001 – $300,000 $200,001 – $500,000
37% More than $600,000 More than $500,000 More than $300,000 More than $500,000
Standard deduction
Standard deduction — single and married filing separately $12,000
Additional deduction age 65 or older — single $1,600
Standard deduction — married filing jointly $24,000
Additional deduction age 65 or older — married filing jointly and married filing separately $1,300
Standard deduction — head of household $18,000
Additional deduction age 65 or older — head of household $1,600
Retirement plans
Maximum annual benefit for defined benefit plan Up to $220,000
Defined contribution annual addition $55,000
Defined contribution compensation limit $275,000
401(k) maximum exclusion $18,500
401(k) catch-up contribution (for individuals 50 or older) $6,000
Simple contribution limit $12,500
Simple catch-up contribution (for individuals 50 or older) $3,000
IRA contribution limitation (in general) $5,500
IRA catch-up contribution (for individuals 50 or older) $1,000
Payroll taxes
Social Security (self-employed) combined rate (OASDI + Medicare) (6.2% + 1.45%) x 2 =15.3%
Social Security (employee) rate (OASDI + Medicare) (6.2% + 1.45%) = 7.65%
OASDI contribution base $128,400
Medicare contribution base Unlimited
Additional Medicare payroll tax on earnings more than $200,000 (single) and $250,000 (married filing jointly) 0.9%
FUTA wage base $7,000
FUTA rate 0.6%
Social security
Maximum earned income while receiving Social Security benefits Under full retirement age $17,040
In the year you reach full retirement age $45,360
Full retirement age No limit
Education phase-outs
American Opportunity Credit (formerly Hope Credit) MFJ: $160,000 – $180,000
Other filers: $80,000 – $90,000
Lifetime Learning Credit MFJ: $114,000 – $134,000
Other filers: $57,000 – $67,000
Student loan interest deduction MFJ: $135,000 – $165,000
Single: $65,000 – $80,000
Health savings accounts
HSA contribution limit (single insurance coverage) $3,450
HSA contribution limit (family insurance coverage) $6,850
HSA catch-up contribution (age 55 or older) $1,000
179 Limitation, gift and estate tax exclusions, and kiddie tax
Section 179 limitation $1 million
Annual gift tax exclusion $15,000
Estate tax exclusion amount $11,180,000

Kiddie tax: Due to tax reform changes, children’s unearned income is now taxed using the trust income tax brackets. Consequently, the former kiddie tax threshold amount of $2,100 no longer applies.

Travel
High cost per diem travel rate within continental United States (high/low method) $284
Low cost per diem travel rate within continental United States (high/low method) $191

Download the 2018 Tax Guide

View the tax rates from previous years:

How we can help

As your needs evolve, contact your advisor at each step to see how these rates might apply to your business, estate, or personal situation.