Tis the Season – Income Tax Key Numbers 2018

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.

Alternative Minimum Tax (AMT)20172018
Maximum AMT exemption amount$84,500 (MFJ), $54,300 (Single/ HOH), $42,250 (MFS)$109,400 (MFJ), $70,300 (Single/HOH), $54,700 (MFS)
Exemption phaseout threshold$160,900 (MFJ), $120,700 (Single/HOH), $80,450 (MFS)$1,000,000 (MFJ) $500,000 (Single/HOH/MFS)
26% rate applies to AMT income (AMTI) at or below this amount (28% rate applies to AMTI above this amount)$187,800 (MFJ/Single/HOH), $93,900 (MFS)$191,100 (MFJ/Single/HOH), $95,550 (MFS)
Exemptions/Itemized Deductions20172018
Personal & dependency exemptions$4,050No personal exemption
Phaseout threshold for exemptions and itemized deductions$313,800 (MFJ), $287,650 (HOH), $261,500 (Single), $156,900 (MFS)Phaseout does not apply
Standard Deduction20172018
Standard deduction amount$12,700 (MFJ), $9,350 (HOH), $6,350 (Single), $6,350 (MFS)$24,000 (MFJ), $18,000 (HOH), $12,000 (Single),$12,000 (MFS)
Standard deduction for dependentGreater of $1,050 OR$350 + earned incomeGreater of $1,050 OR$350 + earned income
Additional deduction for aged/blind$1,550 (Single/HOH),$1,250 (MFJ/MFS)$1,600 (Single/HOH),$1,300 (MFJ/MFS)
Top Tax Brackets20172018
Single39.6% of taxable income exceeding $418,400 + $121,505.2537% of taxable income exceeding $500,000 + $150,689.50
MFJ (Married, Filing Jointly)39.6% of taxable income exceeding $470,700 + $131,62837% of taxable income exceeding $600,000 + $161,379
MFS (Married, Filing Separately)39.6% of taxable income exceeding $235,350 + $65,81437% of taxable income exceeding $300,000 + $80,689.50
HOH (Head of Household)39.6% of taxable income exceeding $444,550 + $126,95037% of taxable income exceeding $500,000 + $149,298
Top Capital Gain Tax Rate (20%) Thresholds20172018
Unearned Income Medicare Contribution Tax (Net Investment Income Tax)20172018
Amount of tax3.80%3.80%
Applies to less of (a) net investment income or (b) modified adjusted gross income exceeding:  
Married filing jointly$250,000$250,000
Married filing separately$125,000$125,000
Standard Mileage Rates20172018
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.