Tax Center
Tax Rates
Income Tax Brackets and Rates
In 2018, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (Tables 1 and 2). The top marginal income tax rate of 37 percent will hit taxpayers with taxable income of $500,000 and higher for single filers and $600,000 and higher for married couples filing jointly.
Rate | For Unmarried Individuals, Taxable Income Over | For Married Individuals Filing Joint Returns, Taxable Income Over | For Heads of Households, Taxable Income Over |
---|---|---|---|
10% | $0 | $0 | $0 |
12% | $9,525 | $19,050 | $13,600 |
22% | $38,700 | $77,400 | $51,800 |
24% | $82,500 | $165,000 | $82,500 |
32% | $157,500 | $315,000 | $157,500 |
35% | $200,000 | $400,000 | $200,000 |
37% | $500,000 | $600,000 | $500,000 |
Standard Deduction and Personal Exemption
The standard deduction for single filers will increase by $5,500 and by $11,000 for married couples filing jointly (Table 2).
The personal exemption for 2018 is eliminated.
Filing Status | Deduction Amount |
---|---|
Single | $12,000 |
Married Filing Jointly | $24,000 |
Head of Household | $18,000 |

2017 Tax Rates - Tax Facts for Individuals
Get Help
If you would like to further discuss your situation, reach Mr. Berley anytime at (541) 786-6989
