2018 Tax Brackets
In 2018, there are still seven tax brackets for individual taxpayers. However, the overall tax rates have decreased. While the bottom rate remained at 10%, the top rate dropped from 39.6% to 37%.
Remember that these tax rates are marginal, meaning when your income increases and you move up to a higher rate, only the portion of your income above the previous (lower) rate threshold is taxed at a higher rate.
To estimate your 2018 tax liability, use the following tax tables:
Single
| Taxable Income | Tax Rate |
|---|---|
| $0 – $9,525 | 10% of taxable income |
| $9,526 – $38,700 | $952.50 plus 12% of the amount over $9,525 |
| $38,701 – $82,500 | $4,453.50 plus 22% of the amount over $38,700 |
| $82,501 – $157,500 | $14,089.50 plus 24% of the amount over $82,500 |
| $157,501 – $200,000 | $32,089.50 plus 32% of the amount over $157,500 |
| $200,001 – $500,000 | $45,689.50 plus 35% of the amount over $200,000 |
| Over $500,000 | $150,689.50 plus 37% of the amount over $500,000 |
Married Filing Jointly
| Taxable Income | Tax Rate |
|---|---|
| $0 – $19,050 | 10% of taxable income |
| $19,051 – $77,400 | $1,905 plus 12% of the amount over $19,050 |
| $77,401 – $165,000 | $8,907 plus 22% of the amount over $77,400 |
| $165,001 – $315,000 | $28,179 plus 24% of the amount over $165,000 |
| $315,001 – $400,000 | $64,179 plus 32% of the amount over $315,000 |
| $400,001 – $600,000 | $91,379 plus 35% of the amount over $400,000 |
| Over $600,000 | $161,379 plus 37% of the amount over $600,000 |
Married Filing Separately
| Taxable Income | Tax Rate |
|---|---|
| $0 – $9,525 | 10% of taxable income |
| $9,526 – $38,700 | $952.50 plus 12% of the amount over $9,525 |
| $38,701 – $82,500 | $4,453.50 plus 22% of the amount over $38,700 |
| $82,501 – $157,500 | $14,089.50 plus 24% of the amount over $82,500 |
| $157,501 – $200,000 | $32,089.50 plus 32% of the amount over $157,500 |
| $200,001 – $300,000 | $45,689.50 plus 35% of the amount over $200,000 |
| Over $300,000 | $80,689.50 plus 37% of the amount over $300,000 |
Head of Household
| Taxable Income | Tax Rate |
|---|---|
| $0 – $13,600 | 10% of taxable income |
| $13,601 – $51,800 | $1,360 plus 12% of the amount over $13,600 |
| $51,801 – $82,500 | $5,944 plus 22% of the amount over $51,800 |
| $82,501 – $157,500 | $12,698 plus 24% of the amount over $82,500 |
| $157,501 – $200,000 | $30,698 plus 32% of the amount over $157,500 |
| $200,001 – $500,000 | $44,298 plus 35% of the amount over $200,000 |
| Over $500,000 | $149,298 plus 37% of the amount over $500,000 |
Standard Deduction and Personal Exemptions
In 2018 tax year, standard deduction has gone up to $12,000 for unmarried taxpayers and $24,000 for married filing jointly. Head of household standard deduction has gone up to $18,000.
Additional standard deduction for elderly and blind taxpayers is $1,300 ($1,600 if taxpayer is also unmarried).
Personal exemptions have been eliminated in 2018 tax year.