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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 – $9,525$0 to $13,60010.0%
$9,526 to $38,700$19,051 to $77,400$9,526 – $38,700$13,601 to $51,80012.0%
$38,701 to $82,500$74,401 to $165,000$38,701 - $$82,500$51,801 to $82,50021.0%
$82,501 to $157,500$165,001 to $315,000$82,501 – $157,500$82,501 to $157,50024.0%
$157,501 to $200,00$315,001 to $400,000$157,501 - $200,000$157,001 to $200,00032.0%
$200,001 to $500,000$400,001 to $600,000$200,001 - $300,000$200,001 to $500,00035.0%
$500,001 or more$600,001 or more$300,001 or more$500,001 or more37.0%

TY 2018 Deductions & Exemptions

 SingleMarried Filing JointlyMarried Filing SeparatelyHead of Household
Standard Deduction$12,000$24,000$12,000$18,000
Additional Deduction for 65 and Older or Blind$1,600$1,300$1,300$1,600

TY 2018 Mileage Rates

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

TY 2018 Capital Gains and Qualified Dividends

Filing StatusShort Term Long 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 - $452,400
Over $452,400

Last updated 11/16/18

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