Tax Rates
Leave no stone unturned when it comes to your taxes.
Stay on Track With GJR
Missing some of the information you need? Our goal is to make sure you always have access to the resources you need to stay on track so you can avoid costly fines and penalties. Don’t pay what you shouldn’t—make sure you’re aware of each and every relevant tax rate for your financial situation. For personal and small business tax rates for the calendar year 2019, read our detailed breakdown below.
If you have questions this sheet doesn’t answer, you can always follow up with a consultation at your convenience. Reach out today and gain the peace of mind you need for your business with GJR Consulting’s comprehensive financial consultation services.
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| 10% | 0 to $9,700 | ||
| 12% | $9,700 to $39,475 | ||
| 22% | $39,475 to $84,200 | ||
| 24% | $84,200 to $160,725 | ||
| 32% | $160,725 to $204,100 | ||
| 35% | $204,100 to $510,300 | ||
| 37% | Over $510,300 | ||
| 2019 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $24,400 | |||
| 10% | 0 to $19,400 | ||
| 12% | $19,400 to $78,950 | ||
| 22% | $78,950 to $168,400 | ||
| 24% | $168,400 to $321,450 | ||
| 32% | $321,450 to $408,200 | ||
| 35% | $408,200 to $612,350 | ||
| 37% | Over $612,350 | ||
| 2019 Tax Rates – Married Filing Separately – Standard Deduction $12,200 | |||
| 10% | 0 to $9,700 | ||
| 12% | $9,700 to $39,475 | ||
| 22% | $39,475 to $84,200 | ||
| 24% | $84,200 to $160,725 | ||
| 32% | $160,725 to $204,100 | ||
| 35% | $204,100 to $306,175 | ||
| 37% | Over $306,175 | ||
| 2019 Tax Rates – Head of Household – Standard Deduction $18,350 | |||
| 10% | 0 to $13,850 | ||
| 12% | $13,850 to $52,850 | ||
| 22% | $52,850 to $84,200 | ||
| 24% | $84,200 to $160,700 | ||
| 32% | $160,700 to $204,100 | ||
| 35% | $204,100 to $510,300 | ||
| 37% | Over $510,300 | ||
| 2019 Tax Rates – Estates & Trusts | |||
| 10% | 0 to $2,600 | ||
| 24% | $2,600 to $9,300 | ||
| 35% | $9,300 to $12,750 | ||
| 37% | Over $12,750 | ||
| 2019 Tax Rates – Social Security | Social Security2019 Tax Rates |
| Social Security Tax Rate: Employers | 6.2% |
| Social Security Tax Rate: Employees | 6.2% |
| Social Security Tax Rate: Self-Employed | 15.3% |
| Maximum Taxable Earnings | $132,900 |
| Medicare Base Salary | Unlimited |
| Medicare Tax Rate: Employers | 1.45% |
| Medicare Tax Rate: Employees | 1.45% |
| Additional Medicare Tax for income above $204,100 (single filers) or $250,000 (joint filers) | 0.9% |
| Medicare Tax on net investment income ($204,100 single filers, $250,000 joint filers) | 3.8% |
| Miscellaneous | 2019 Tax Rates |
| Business expensing limit: cap on equipment purchases | $2,550,000 |
| Business expensing limit: new and used Equipment and Software | $1,020,000 |
| Qualified Business Income threshold amount: | $160,700 (single and head of household); $321,400 (married filing joint return) |
| Qualified Small Employer Health Reimbursement Arrangement limit: | $5,150 (single coverage); $10,450 (family coverage) |
| Prior-year safe harbor for estimated taxes of higher income | 110% of your 2019 tax liability |
| Standard mileage rate for business driving | 58 cents |
| Standard mileage rate for medical driving | 20 cents |
| Standard mileage rate for moving driving: Members of the Armed Forces on active duty who move because of a permanent change of station | 20 cents |
| Standard mileage rate for charitable driving | 14 cents |
| Child Tax Credit | $2,000 |
| Unearned income maximum for children under 19 before child tax applies | $1,100 |
| Maximum capital gains tax rate for taxpayers with income up to $39,375 for single filers, $78,750 for married filing jointly | 0% |
| Maximum capital gains tax rate for taxpayers with income above $39,375 for single filers, $78,750 for married filing jointly | 15% |
| Maximum capital gains tax rate for taxpayers with income above $434,550 for single filers, $488,850 for married filing jointly | 20% |
| Capital gains tax rate for unrecaptured Sec. 1250 gains | 25% |
| Capital gains tax rate on collectibles | 28% |
| Maximum contribution for Traditional/Roth IRA | $6,000 if under age 50; $7,000 if 50 or older |
| Maximum employee contribution to SIMPLE IRA | $13,000 if under age 50; $16,000 if 50 or older |
| Maximum contribution to SEP IRA | 25% of eligible compensation up to $56,000 |
| 401(k) maximum employee contribution limit | $19,000 if under age 50; $25,000 if 50 or older |
| Estate tax exemption | $11,400,000 |
| Annual Exclusion for Gifts | $15,000 |
| Education | 2019 Tax Rates |
| American Opportunity Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
| Source: IRS Revenue Procedure 2018-57 |
| Standard Meal Rates for Family Child Care Providers for 2018 income tax returns | |
| Continental U.S. | 2018-19 Tax Rates (July 1, 2018-June 30, 2019) |
| For each breakfast | $1.31 |
| For each lunch or supper | $2.46 |
| For each snack (up to 3 per day for each child) | $0.73 |
| Alaska | 2018-19 Tax Rates (July 1, 2018-June 30, 2019) |
| For each breakfast | $2.09 |
| For each lunch or supper | $3.99 |
| For each snack (up to 3 per day for each child) | $1.19 |
| Hawaii | 2018-19 Tax Rates (July 1, 2018-June 30, 2019) |
| For each breakfast | $1.53 |
| For each lunch or supper | $2.88 |
| For each snack (up to 3 per day for each child) | $0.86 |
| Source: Federal Register | |
52%
of small business owners feel they pay too much in taxes.
1 in 6
small business loans fail.
82%
of small businesses fail because of cash flow problems.
