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Current Rates and Limits

TY 2018 Retirement Plan Contribution Limits

PlanContribution LimitsCatch-up Contribution (if 50 or older)
Traditional IRA$5,500$1,000
Roth IRA$5,500$1,000
SIMPLE$12,500$3,000
401(k), 403(b), and 457 plans$18,500$6,000

TY 2018 Social Security & Medicare Tax

 Maximum Compensation subject to FICA
Social Security$128,400
Medicare TaxNo Limit
Medicare Additional Taxover $200,000

TY 2018 Income Tax Brackets

SingleMarried Filing JointlyMarried Filing SeparatelyHead of HouseholdMarginal Tax Rate
$0 to $9,525
$0 to $19,050
$0 to $9,525
$0 to $13,600
10.0%
$9,526 to $38,700
$19,051 to $77,400
$9,526 to $38,700
$13,601 to $51,800
12.0%
$38,701 to $82,500
$77,401 to $165,000
$38,701 to $82,500
$51,801 to $82,500
22.0%
$82,501 to $157,500
$165,001 to $315,000
$82,501 to $157,500
$82,501 to $157,500
24.0%
$157,501 to $200,000
$315,001 to $400,000
$157,501 to $200,000
$157,501 to $200,000
32.0%
$200,001 to $500,000
$400,001 to $600,000
$200,001 - $300,000
$200,001 to $500,000
35.0%
$500,001 or more
$600,001 or more
$300,001 or more
$500,001 or more
37.0%

TY 2018 Deductions & Exemptions

 SingleMarried Filing JointlyMarried Filing Separately
Standard Deduction$6,350$12,700$6,350
Additional Deduction for 65 and Older or Blind$1,550$1,250$1,250

TY 2018 Mileage Rates

PurposeCents per mile
Business54.5 ¢
Medical18 ¢
Charitable14 ¢
Moving18 ¢

TY 2018 Capital Gains and Qualified Dividends

Filing StatusShort TermLong Term/Qualified Dividends
0%15%20%
Singleordinary rate$0 - $38,600
$38,601 - $425,800
Over $425,800
Married Filing Jointlyordinary rate$0 - $77,200
$77,201 - $479,000
Over $479,000
Married Filing Separatelyordinary rate$0 - $38,600
$38,601 - $239,500
Over $239,500
Head of Householdordinary rate$0 - $51,700$51,701 - $452,400Over $452,400

Last updated 11/16/18

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