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2018 Tax Updates

Federal Income Tax Brackets

Federal Income Taxes

Standard Deductions

Individual $12,000

Head Of Household $18,000

Married Filing Separate $12,000

Married Filing Jointly $24,000

Social Security maximum taxable earnings: $128,400

Additional Medicare tax threshold:

Individual $200,000

Head Of Household $125,000

Married Filing Separate $125,000

Married Filing Jointly $250,000

Capital gains tax rates:

Married Single Head of Household Married filling separately

0% $0-77,200 $0-38,600 $0-51,700 $0-38,600

15% $77,201-479,000 $38,601-425,800 $51,701-452,400 $38,601-425,800

20% >$479,000 >$425,800 >$452,400 >$425,800

For individuals who are still working but collect SS prior to their FRA, the income limits are:

$17,040- Above this limit the earners will lose $1 of their benefits for every $2 they earn.

Account contribution limits:

Contribution limits