727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Tax Rates for 2019

Individual Taxpayer Tax Rates

 

 

2019 Tax Rates – Single Taxpayers – Standard Deduction $12,200

2018 Rates

10%

0 to $9,700

12%

$9,700 to $39,475

22%

$39,475 to $84,200

24%

$84,200 to $160,725

32%

$160,725 to $204,100

35%

$204,100 to $510,300

37%

Over $510,300

2019 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $24,400

10%

0 to $19,400

12%

$19,400 to $78,950

22%

$78,950 to $168,400

24%

$168,400 to $321,450

32%

$321,450 to $408,200

35%

$408,200 to $612,350

37%

Over $612,350

2019 Tax Rates – Married Filing Separately – Standard Deduction $12,200

10%

0 to $9,700

12%

$9,700 to $39,475

22%

$39,475 to $84,200

24%

$84,200 to $160,725

32%

$160,725 to $204,100

35%

$204,100 to $306,175

37%

Over $306,175

2019 Tax Rates – Head of Household – Standard Deduction $18,350

10%

0 to $13,850

12%

$13,850 to $52,850

22%

$52,850 to $84,200

24%

$84,200 to $160,700

32%

$160,700 to $204,100

35%

$204,100 to $510,300

37%

Over $510,300

 

 

 

Estates & Trusts Tax Rates

2019 Tax Rates – Estates & Trusts

10%

0 to $2,600

24%

$2,600 to $9,300

35%

$9,300 to $12,750

37%

Over $12,750

Social Security & Medicare Tax Rates

Social Security

2019 Tax Rates

Social Security Tax Rate: Employers

6.2%

Social Security Tax Rate: Employees

6.2%

Social Security Tax Rate: Self-Employed

15.3%

Maximum Taxable Earnings

$132,900

Medicare Base Salary

Unlimited

Medicare Tax Rate: Employers

1.45%

Medicare Tax Rate: Employees

1.45%

Additional Medicare Tax for income above $204,100 (single filers) or $250,000 (joint filers)

0.9%

Medicare tax on net investment income ($204,100 single filers, $250,000 joint filers)

3.8%

Miscellaneous Rates

Miscellaneous

2019 Tax Rates

Business expensing limit: Cap on equipment purchases

$2,550,000

Business expensing limit: New and Used Equipment and Software

$1,020,000

Qualified Business Income threshold amount:

$160,700 (single and head of household); $321,400 (married filing joint return)

Qualified Small Employer Health Reimbursement Arrangement limit:

$5,150 (single coverage); $10,450 (family coverage)

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2018 tax liability

Standard mileage rate for business driving

58 cents

Standard mileage rate for medical driving

20 cents

Standard mileage rate for moving driving – Members of the Armed Forces on active duty who move because of a permanent change of station

20 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$2,000

Unearned income maximum for children under 19 before kiddie tax applies

$1,100

Maximum capital gains tax rate for taxpayers with income up to $39,375 for single filers, $78,750 for married filing jointly

0%

Maximum capital gains tax rate for taxpayers with income above $39,375 for single filers, $78,750 for married filing jointly

15%

Maximum capital gains tax rate for taxpayers with income above $434,550 for single filers, $488,850 for married filing jointly

20%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles

28%

Maximum contribution for Traditional/Roth IRA

$6,000 if under age 50
$7,000 if 50 or older

Maximum employee contribution to SIMPLE IRA

$13,000 if under age 50
$16,000 if 50 or older

Maximum Contribution to SEP IRA

25% of eligible compensation
up to $56,000

401(k) maximum employee contribution limit

$19,000 if under age 50
$25,000 if 50 or older

Estate tax exemption

$11,400,000

Annual Exclusion for Gifts

$15,000

Education Credits

Education

2019 Tax Rates

American Opportunity Credit (Hope)

$2,500

Lifetime Learning Credit

$2,000

Student Loan Interest Deduction

$2,500

Coverdell Education Savings Contribution

$2,000

Source: IRS Revenue Procedure 2018-57

 
Standard Meal Rates for Family Child Care Providers

Standard Meal Rates for Family Child Care Providers for 2018 income tax returns

Continental U.S.

2018-19 Tax Rates (July 1, 2018-June 30, 2019)

For each breakfast

$1.31

For each lunch or supper

$2.46

For each snack (up to 3 per day for each child)

$0.73

Alaska

2018-19 Tax Rates (July 1, 2018-June 30, 2019)

For each breakfast

$2.09

For each lunch or supper

$3.99

For each snack (up to 3 per day for each child)

$1.19

Hawaii

2018-19 Tax Rates (July 1, 2018-June 30, 2019)

For each breakfast

$1.53

For each lunch or supper

$2.88

For each snack (up to 3 per day for each child)

$0.86

Source: Federal Register

 
 
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