Moran Audit and Financial Consulting, Inc.

2018 Tax Guide

(This guide contains proposed changes as of December 2, 2017 for taxable years beginning after 2017.)

The Standard Deduction

AMOUNT OF STANDARD DEDUCTION
Joint Return Single Unmarried With
a "Qualifying Child"
$24,400 $12,200 $18,300

Income Tax Rates

Married Individuals

(Filing Joint Returns and Surviving Spouses)
If Taxable Income Is: The Income Tax Rate Is:
< $90,000 12% of the taxable income
> $90,000 to < $260,000 25%
> $260,000 to < $1,000,000 35%
> $1,000,000 39.6%

Heads of Households

If Taxable Income Is: The Income Tax Rate Is:
< $67.500 12% of the taxable income
> $67,500 to < $200,000 25%
> $200,000 to < $500,000 35%
> $500,000 39.6%

Unmarried Individuals

(Other than Surviving Spouses/Heads of Households)
If Taxable Income Is: The Income Tax Rate Is:
< $45,000 12% of the taxable income
> $45,000 to < $200,000 25%
> $200,000 to < $500,000 35%
> $500,000 39.6%

Married Individuals

(Filing Separate Returns)
If Taxable Income Is: The Income Tax Rate Is:
< $45,000 12% of the taxable income
> $45,000 to < $130,000 25%
> $130,000 to < $500,000 35%
> $500,000 39.6%

Estates & Trusts

If Taxable Income Is: The Income Tax Rate Is:
< $2,550 12% of the taxable income
> $2,550 to < $9,150 25%
> $9,150 to < $12,500 35%
> $12,500 39.6%

Phase-Out Of 12% Bracket For Certain Higher-Income Individuals

The tax benefit of the 12% bracket would begin phasing out as the taxpayer's AGI exceeds $1,200,000 (if filing jointly or as a surviving spouse), or exceeds $1,000,000 (for all other individual filers).

Kiddie Tax

A higher tax rate (similar to the current kiddie tax rule) on certain unearned income of certain children.

Long-term Capital-Gain Rates

Taxable Income
(by Filing Status)
Tax Rate
0%15%20%
Joint< $77,200≥ $77,200 to
< $479,000
> $478,999
Married Filing Separately < $38,600 ≥ $38,600 to
< $239,500
> $239,499
Head of Household < $51,700 ≥ $51,700 to
< $452,400
> $452,399
Single < $38,600 ≥ $38,600 to
< $425,800
> $425,799
Estates & Trusts < $2,600 ≥ $2,600 to
< $12,700
> $12,699