Tis the season! It’s time to start looking at tax planning numbers in preparation for end-of-year and the coming tax season. This snapshot list includes just key income tax planning numbers.
39.6% of taxable income exceeding $418,400 + $121,505.25
37% of taxable income exceeding $500,000 + $150,689.50
MFJ (Married, Filing Jointly)
39.6% of taxable income exceeding $470,700 + $131,628
37% of taxable income exceeding $600,000 + $161,379
MFS (Married, Filing Separately)
39.6% of taxable income exceeding $235,350 + $65,814
37% of taxable income exceeding $300,000 + $80,689.50
HOH (Head of Household)
39.6% of taxable income exceeding $444,550 + $126,950
37% of taxable income exceeding $500,000 + $149,298
Top Capital Gain Tax Rate (20%) Thresholds
2017
2018
Single
$418,400
$425,800
MFJ
$470,700
$479,000
MFS
$235,350
$239,500
HOH
$444,550
$452,400
Unearned Income Medicare Contribution Tax (Net Investment Income Tax)
2017
2018
Amount of tax
3.80%
3.80%
Applies to less of (a) net investment income or (b) modified adjusted gross income exceeding:
Individuals
$200,000
$200,000
Married filing jointly
$250,000
$250,000
Married filing separately
$125,000
$125,000
Standard Mileage Rates
2017
2018
Use of auto for business purposes (cents per mile)
$0.535
$0.545
Uses of auto for medical purposes (cents per mile)
$0.17
$0.18
Use of auto for moving purposes(cents per mile)
$0.17
$0.18
Use of auto for charitable purposes (cents per mile)
$0.14
$0.14
This material was prepared by Forefield/Broadridge.
Hollander Lone Maxbauer LLC and LPL Financial do not provide legal and/or tax advice or services. Please consult your legal and tax advisor regarding your specific situation. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.
