2018 Tax Guide
(This guide contains proposed changes as of December 2, 2017 for taxable years beginning after 2017.)
(This guide contains proposed changes as of December 2, 2017 for taxable years beginning after 2017.)
| AMOUNT OF STANDARD DEDUCTION | ||
|---|---|---|
| Joint Return | Single | Unmarried With a "Qualifying Child" |
$24,400 | $12,200 | $18,300 |
| 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% |
| 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% |
| 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% |
| 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% |
| 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% |
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).
A higher tax rate (similar to the current kiddie tax rule) on certain unearned income of certain children.
| 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 |