As a result of the 2017 Tax Cuts and Jobs Act, your income tax rate may be different this year. Here’s what you need to know about the 2018 federal income tax brackets and standard deduction.
In This Article
Remember, these numbers are for your 2018 taxes. So you should look at them if you changed your withholding this year–starting on January 1, 2018. You’ll file taxes using these numbers in the spring of 2019.
Personal Exemption and Phase-Out
Gone. Previously the 2018 personal exemption rate was slated to be $4,150 but the new tax bill has removed this exemption entirely.
2018 Standard Deduction
The standard deduction is jumping A LOT this year. Here are the standard deductions by tax filing status:
- Married Filing Jointly/Surviving Spouse: $24,000
- Heads of Households: $18,000
- Single: $12,000
- Married Filing Separately: $12,000
2018 IRS Tax Brackets and Rates
So how much will you pay in taxes for 2018? Here’s how the tax rate is applied for the year. Remember, the income listed here is your taxable income–not your gross income.
Table 1. Married Filing Jointly and Surviving Spouses
| Taxable Income | Taxes |
|---|---|
| Up to $19,050 | 10% of taxable income |
| Over $19,050 but not over $77,400 | $1,905 plus 12% of excess over $19,050 |
| Over $77,400 but not over $165,000 | $8,907 plus 22% of the excess over $77,400 |
| Over $165,000 but not over $315,000 | $28,179 plus 24% of the excess over $165,000 |
| Over $315,000 but not over $400,000 | $64,179 plus 32% of the excess over $315,000 |
| Over $400,000 but not over $600,000 | $91,379 plus 35% of the excess over $400,000 |
| Over $600,000 | $161,379 plus 37% of the excess over $600,000 |
Table 2. Heads of Households
| Taxable Income | Taxes |
|---|---|
| Up to $13,600 | 10% of taxable income |
| Over $13,600 but not over $51,800 | $1,360 plus 12% of excess over $13,600 |
| Over $51,800 but not over $82,500 | $5,944 plus 22% of the excess over $51,800 |
| Over $82,500 but not over $157,500 | $12,698 plus 24% of the excess over $82,500 |
| Over $157,500 but not over $200,000 | $30,698 plus 32% of the excess over $157,500 |
| Over $200,000 but not over $500,000 | $44,298 plus 35% of the excess over $200,000 |
| Over $500,000 | $149,298 plus 37% of the excess over $500,000 |
Table 3. Unmarried Individuals (other than Surviving Spouses and Heads of Households:
| Taxable Income | Taxes |
|---|---|
| Up to $9,525 | 10% of taxable income |
| Over $9,525 but not over $38,700 | $952.50 plus 12% of excess over $9,525 |
| Over $38,700 but not over $82,500 | $4,453.50 plus 22% of the excess over $38,700 |
| Over $82,500 but not over $157,500 | $14,089.50 plus 24% of the excess over $82,500 |
| Over $157,500 but not over $200,000 | $32,089.50 plus 32% of the excess over $157,500 |
| Over $200,000 but not over $500,000 | $45,689.50 plus 35% of the excess over $200,000 |
| Over $500,000 | $150,689.50 plus 37% of the excess over $500,000 |
Table 4. Married Individuals Filing Separately:
| Taxable Income | Taxes |
|---|---|
| Up to $9,525 | 10% of taxable income |
| Over $9,525 but not over $38,700 | $952.50 plus 12% of excess over $9,525 |
| Over $38,700 but not over $82,500 | $4,453.50 plus 22% of the excess over $38,700 |
| Over $82,500 but not over $157,500 | $14,089.50 plus 24% of the excess over $82,500 |
| Over $157,500 but not over $200,000 | $32,089.50 plus 32% of the excess over $157,500 |
| Over $200,000 but not over $300,000 | $45,689.50 plus 35% of the excess over $200,000 |
| Over $300,000 | $80,689.50 plus 37% of the excess over $300,000 |
Again, remember that these numbers are for the 2018 calendar year. (This information is summarized from the Tax Foundation)
Next Steps
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