Facts & Figures for 2018
Listed below are some important Facts & Figures for 2018. Use the quick links here to jump to the section you need:
Income tax
Social Security
Medicare
Retirement Accounts
Income Tax
| 2018 Income Tax Rate Schedule | |||
| Single Filers | |||
| From | To | Rate | Minus |
| $0 | $9,525 | 10% | $0.00 |
| $9,526 | $38,700 | 12% | $190.50 |
| $38,701 | $82,500 | 22% | $4,060.50 |
| $82,501 | $157,000 | 24% | $5,710.50 |
| $157,001 | $200,000 | 32% | $18,270.50 |
| $200,001 | $500,000 | 35% | $24,270.50 |
| $500,000 | no limit | 37% | $34,270.50 |
| Married Filing Jointly or Qualifying Widow(er) | |||
| $0 | $19,050 | 10% | $0.00 |
| $19,051 | $77,400 | 12% | $381.00 |
| $77,401 | $165,000 | 22% | $8,121.00 |
| $165,001 | $315,000 | 24% | $11,421.00 |
| $315,001 | $400,000 | 32% | $36,621.00 |
| $400,001 | $600,000 | 35% | $48,621.00 |
| $600,001 | no limit | 37% | $60,621.00 |
| Married Filing Separately | |||
| $0 | $9,525 | 10% | $0.00 |
| $9,526 | $38,700 | 12% | $190.50 |
| $38,701 | $82,500 | 22% | $4,060.50 |
| $82,501 | $157,000 | 24% | $5,710.50 |
| $157,001 | $200,000 | 32% | $18,270.50 |
| $200,001 | $300,000 | 35% | $24,270.50 |
| $300,000 | no limit | 37% | $30,270.50 |
| Head of Household | |||
| $0 | $13,600 | 10% | $0.00 |
| $13,601 | $51,800 | 12% | $272.00 |
| $51,801 | $82,500 | 22% | $5,452.00 |
| $82,501 | $157,000 | 24% | $7,102.00 |
| $157,001 | $200,000 | 32% | $19,662.00 |
| $200,001 | $500,000 | 35% | $25,662.00 |
| $500,001 | no limit | 37% | $35,662.00 |
| Estates and Trusts | |||
| $0 | $2,550 | 10% | $0.00 |
| $2,551 | $9,150 | 24% | $357.00 |
| $9,151 | $12,500 | 35% | $1,363.50 |
| $12,501 | no limit | 37% | $1,613.50 |
| Long-Term Capital Gains and Qualifying Dividends | ||
| Single (taxable income) | ||
| From | To | Tax Rate |
| $0 | $38,600 | 0% |
| $38,601 | $425,800 | 15% |
| $425,801 | no limit | 20% |
| Married Filing Jointly (taxable income) | ||
| $0 | $77,200 | 0% |
| $77,201 | $479,000 | 15% |
| $479,001 | no limit | 20% |
| Head of Household | ||
| $0 | $51,700 | 0% |
| $51,701 | $452,400 | 15% |
| $452,401 | no limit | 20% |
| Married Filing Separately | ||
| $0 | $38,600 | 0% |
| $38,601 | $239,500 | 15% |
| $239,501 | no limit | 20% |
| Estates & Trusts | ||
| $0 | $2,600 | 0% |
| $2,601 | $12,700 | 15% |
| $12,701 | no limit | 20% |
| Net Investment Income Tax (NIIT) 3.8% tax on the lesser of Excess of MAGI over the following or Net Investment Income | |
| Single | $200,000 |
| Married Filing Jointly | $250,000 |
| Married Filing Separately | $125,000 |
| Standard Deductions | |
| Filing Status | Standard Deduction |
| Single | $12,000 |
| Married Filing Jointly | $24,000 |
| Qualifying Widow(er) | $24,000 |
| Married Filing Separately | $12,000 |
| Head of Household | $18,000 |
| Dependent | Greater of: $1,050 or $350 plus earned income |
| Additional Standard Deductions (add to the regular Standard Deduction) |
|
| Blind (MFJ, MFS or QW) | $1,300 |
| Over 65 (MFJ, MFS or QW) | $1,300 |
| Blind (single) | $1,600 |
| Over 65 (single) | $1,600 |
| Alternative Minimum Tax Exemptions | |
| Single | $70,300 |
| Married Filing Jointly | $109,400 |
| Surviving Spouse | $109,400 |
| Married Filing Separately | $54,700 |
| Estates and Trusts | $24,600 |
| AMT Rate of 28% applies to income over: | |
| Married Filing Separately | $95,750 |
| All other filing statuses | $191,500 |
| Exemption phases out at: | |
| Single | $500,000 |
| Married Filing Jointly | $1,000,000 |
| Surviving Spouse | $1,000,000 |
| Married Filing Separately | $500,000 |
| Estates and Trusts | $82,050 |
| Gift & Estate Tax Exclusions and Credits | |
| Estate Tax Exclusion | $11,210,000 |
| Gift and GST Tax Exclusion | $11,210,000 |
| Annual Gift Tax Exclusion | $15,000 |
| Maximum Estate, Gift and GST Tax Rate | 40% |
| Health Savings Accounts | |||
| Maximum Deductible Contribution | Expense Limit | Minimum Deductible | |
| Single (individual) | $3,450 | $6,650 | $1,350 |
| Family | $6,900 | $13,300 | $2,700 |
| Catch-up (age 55+) | $1,000 | ||
| Education Credits | ||
| Credit | Maximum Amount | Phaseouts begin at AGI of: |
| American Opportunity Tax Credit (Hope) | $2,500 | |
| Married Filing Jointly | $160,000 | |
| All other filing statuses | $80,000 | |
| Lifetime Learning Credit | $2,000 | |
| Married Filing Jointly | $114,000 | |
| All other filing statuses | $57,000 | |
Social Security
| Full Retirement Age | |
| Born in: | Full Retirement Age (FRA) is: |
| 1946-1954 | 66 |
| 1955 | 66y, 2m |
| 1956 | 66y, 4m |
| 1957 | 66y, 6m |
| 1958 | 66y, 8m |
| 1959 | 66y, 10m |
| 1960 or later | 67 |
| Social Security Maximum Taxable Earnings | ||
| 2018 | $128,400 | |
| Social Security Quarter of Credit | ||
| 2018 | $1,320 | |
| Social Security Benefits Taxation | ||
| Filing status | Provisional Income* | SS benefit included as taxable |
| Married Filing Jointly | less than $32,000 | 0% |
| $32,000 to $44,000 | up to 50% | |
| more than $44,000 | up to 85% | |
| Single, Head of Household, Qualifying Widow(er) | less than $25,000 | 0% |
| $25,000 to $34,000 | up to 50% | |
| more than $34,000 | up to 85% | |
| Married Filing Separately and not living with spouse | less than $25,000 | 0% |
| $25,000 to $34,000 | up to 50% | |
| more than $34,000 | up to 85% | |
| Married Filing Separately and living with spouse | more than $0 | 85% |
| Earnings Limits | ||
| Before FRA | $17,040 | $1,420/mo |
| For every $2 over the limit, $1 in benefits is withheld | ||
| Year of FRA | $45,360 | $3,780/mo |
| For every $3 over the limit, $1 in benefits is withheld | ||
| After FRA | no limit | |
| Substantial Earnings | ||
| 2018 | $23,850 | |
| Bend Points for age 62 in 2018 | |
| Retirement Benefit PIA calculation (of AIME) | |
| 1st (x 90%) | $895 |
| 2nd (x 32%) | $5,397 |
| 3rd (x 15%) | $5,398+ |
| Family Maximum Benefit calculation (of PIA) | |
| 1st (x 150%) | $1,144 |
| 2nd (x 272%) | $1,651 |
| 3rd (x 134%) | $2,154 |
| 4th (x 175%) | $2,155+ |
Medicare
| Medicare Premiums | ||
| Part B | Part D | |
| Standard Premium | $134 | n/a |
| Hold harmless | $130 | n/a |
| IRMAA Premium Adjustments | ||
| Filing Status | Part B | Part D |
| Married Filing Jointly | ||
| <$170,001 | +$0 | +$0 |
| $170,001 to $214,000 | +$52.50 | +$13.00 |
| $214,001 to $267,000 | +$132.90 | +$33.60 |
| $267,001 to $320,000 | +$214.30 | +$54.20 |
| >$320,001 | +$196.60 | +$74.80 |
| Single | ||
| <$85,001 | +$0 | +$0 |
| $85,001 to $107,000 | +$52.50 | +$13.00 |
| $107,001 to $133,500 | +$132.90 | +$33.60 |
| $133,501 to $160,000 | +$214.30 | +$54.20 |
| >$160,001 | +$196.60 | +$74.80 |
| Medicare Deductibles | |
| Part A (per benefit period) | |
| First 60 days | $1,340 |
| Day 61-90 (per day) | $355 |
| Day 91+ (per day) | $670 |
| Part B (per year) | $183 |
| Part D deductible (max) | $405 |
| First Tier coinsurance | |
Retirement Accounts
| Individual Retirement Arrangements (IRAs) | ||
| Traditional IRA | ||
| Limitations | Deductible Contribution | Deductible Catch-up Contribution (age 50+) |
| If Covered by Employer Plan (self) | ||
| Married Filing Jointly MAGI | ||
| <= $101,000 | $5,500 | $1,000 |
| $101,001 to $121,000 | Reduced by 27.5% for each dollar over $101,000 | Reduced by 32.5% for each dollar over $101,000 |
| >= $121,000 | only non-deductible contributions allowed, up to $5,500 | only non-deductible contributions allowed, up to $1,000 |
| Single or Head of Household MAGI | ||
| <= $63,000 | $5,500 | $1,000 |
| $63,001 to $73,000 | Reduced by 55% for each dollar over $63,000 | Reduced by 65% for each dollar over $63,000 |
| >= $73,000 | only non-deductible contributions allowed, up to $5,500 | only non-deductible contributions allowed, up to $1,000 |
| Married Filing Separately MAGI | ||
| <= $0 | $5,500 | $1,000 |
| $1 to $10,000 | reduced by 55% for each dollar over $0 | Reduced by 65% for each dollar over $0 |
| >= $10,000 | only non-deductible contributions allowed, up to $5,500 | only non-deductible contributions allowed, up to $1,000 |
| If spouse is covered by Employer Plan | ||
| Married Filing Jointly MAGI | ||
| <= $189,000 | $5,500 | $1,000 |
| $189,001 to $199,000 | reduced by 55% for each dollar over $189,000 | Reduced by 65% for each dollar over $189,000 |
| >= $199,000 | only non-deductible contributions allowed, up to $5,500 | only non-deductible contributions allowed, up to $1,000 |
| Roth IRA | ||
| Limitations | Contribution Limit | Catch-up Contribution Limit (age 50+) |
| Married Filing Jointly MAGI | ||
| <= $189,000 | $5,500 | $1,000 |
| $189,001 to $199,000 | reduced by 55% for each dollar over $189,000 | Reduced by 65% for each dollar over $189,000 |
| >= $199,000 | no Roth IRA contribution allowed | no Roth IRA contribution allowed |
| Single or Head of Household MAGI | ||
| <= $120,000 | $5,500 | $1,000 |
| $120,001 to $135,000 | Reduced by 36.67% for each dollar over $120,000 | Reduced by 43.33% for each dollar over $120,000 |
| >= $135,000 | no Roth IRA contribution allowed | no Roth IRA contribution allowed |
| Married Filing Separately MAGI | ||
| <= $0 | $5,500 | $1,000 |
| $1 to $10,000 | Reduced by 55% for each dollar over $0 | Reduced by 65% for each dollar over $0 |
| >= $10,000 | no Roth IRA contribution allowed | no Roth IRA contribution allowed |
| Other retirement plans | ||
| 401(k), Roth 401(k), 403(b), 457(b) | ||
| Deductible Contribution | Deductible Catch-up Contribution (age 50+) | Maximum Total Contribution (includes Employer match, non-deductible contributions, and catch-up) |
| $18,500 | $6,000 | $61,000 |
| SIMPLE IRA | ||
| $13,000 | $3,000 | |
