2018 pocket tax tables

Transcription

1 2018 pocket tax tables Table of Contents Federal income tax rates Standard deductions Dividends and capital gains AMT exemption amounts IRA and pension plan limits Gift and estate tax Social security Education Long term care Table 2001 rates Table I (group insurance rates) ADV Ameritas Life Insurance Corp. Ameritas Life Insurance Corp. of New York

2 Federal Income Rates Married Couples Filing Jointly $0 $19, % of taxable income 19,050 77, $1,905 plus 12% over $19,050 77, , ,907 plus 22% over 77, , , ,179 plus 24% over 165, , , ,179 plus 32% over 315, , , ,379 plus 35% over 400,000 Over 600, ,379 plus 37% over 600,000 Heads of Households $0 $13, % of taxable income 13,600 51, ,360 plus 12% over 13,600 51,800 82, ,944 plus 22% over 51,800 82, , ,698 plus 24% over 82, , , ,698 plus 32% over 157, , , ,298 plus 35% over 200,000 Over 500, ,298 plus 37% over 500,000 Single Individuals $0 $9, % of taxable income 9,525 38, $ plus 12% over $9,525 38,700 82, , plus 22% over 38,700 82, , , plus 24% over 82, , , , plus 32% over 157, , , , plus 35% over 200,000 Over 500, , plus 37% over 500,000 Married Individuals Filing Separately $0 $9, % of taxable income 9,525 38, $ plus 12% over $9,525 38,700 82, , plus 22% over 38,700 82, , , plus 24% over 82, , , , plus 32% over 157, , , , plus 35% over 200,000 Over 300, , plus 37% over 300,000 Estates and Trusts $0 $2, % of the taxable income 2,550 9, $255 plus 24% over $2,550 9,150 12, ,839 plus 35% over 9,150 Over 12, , plus 37% over 12,500 1

3 Federal Income Rates (cont) C Corporations ed at a flat 21% rate Standard Deductions/Exemptions Married filing jointly.... $24,000 Heads of households ,000 Single individuals... 12,000 Married filing separately... 12,000 Dependent.... Cannot exceed the greater of 1,050 or $350 plus earned income Aged or blind; unmarried and not surviving spouse ,600 each Aged or blind; other.... 1,300 each Personal Exemption.... $0 Kiddie Exemption... $2,100 AMT exemption... May not exceed 7,650 plus child s earned income AMT Exemption Amounts Married filing jointly.... $109,400 Single or head of household ,300 Married filing separately... 54,700 Estates and trusts ,600 2

4 Dividends and Capital Gains Type of Gain Shortterm Long-term Qualified Dividends Holding Period 12 months or less More than 12 months Rate for payer in 37% Bracket Ordinary Income Rates Rate for payer in 22% 35% Bracket Ordinary Income Rates Rate for payer in 10% or 12% Bracket Ordinary Income Rates 20% 15% 0% N/A 20% 15% 0% IRA and Pension Plan Limits Contribution limit for traditional and Roth IRAs... $5,500 Catch-up limit for traditional and Roth IRAs (age 50+)....1,000 Traditional IRA Deductible Contributions Phaseout Joint return (active participant).... $101,000 $121,000 Joint return (spouse is active participant).. 189, ,000 Single/head of household ,000 73,000 Married filing separately ,000 Roth IRA Contributions Phaseout Joint return.... $189,000 $199,000 Single/head of household , ,000 Married filing separately ,000 Defined contribution annual limit $55,000 Annual defined benefit limit ,000 Elective deferral limit for 401(k), SAR-SEPS, TSAs, 457s....18,500 Catch-up for 401(k), SAR-SEPS, TSAs....6,000 Elective deferral limit for SIMPLE IRAs and SIMPLE 401(k)... 12,500 Catch-up for SIMPLE IRAs and SIMPLE 401(k).... 3,000 Minimum compensation for SEPS Maximum compensation for qualified plans ,000 Highly compensated employee ,000 ESOP payout limits...220,000; 1,105,000 3

5 Gift and Estate Estate, gift, and GST exemption.... $11,200,000 Estate, gift, and GST tax rate....40% Annual gift tax exemption....15,000 Annual exclusion for gifts to a non-citizen spouse ,000 Social Security Wage base.... $128,400 Amount to earn a quarter of coverage... 1,300 Income causing social security benefits to be taxable Married filing jointly 50% Included in Income.... $32,000 85% Included in Income ,000 Single 50% Included in Income ,000 85% Included in Income ,000 Earnings test-under NRA all of ,040 Reach NRA in ,360 Medicare Part A Deductible First 60 days.... $1, days /day 60 lifetime reserve days /day Part B Deductible

6 Education Hope Scholarship Credit 100% of first $2,000 of tuition and related expenses...$2,000 25% of next $2,000 of tuition and related expenses Hope Scholarship Credit Phaseout Married filing jointly.... $160,000 $180,000 Others... 80,000 90,000 Table 2001 (Cost per $1,000 per year) Used to compute the cost of certain employer-provided life insurance protection. Age Premium Age Premium Age Premium

7 Table I (Group-Term Insurance Rates) Age Cost per $1,000 for 1 month Under $ and above Health Savings Accounts Individual Family Minimum required health plan deductible $1,350 $2,700 Maximum allowed out-of-pocket limit...6,650 13,300 Contribution limit...3,450 6,900 Catch-up contributions for Age 55 or more... $1,000 Long-Term Care Age Limit on Premiums 40 or less....$ , ,160 More than ,200 Per diem limit for benefits This information is provided by Ameritas, which is a marketing name for subsidiaries of Ameritas Mutual Holding Company, including, but not limited to: Ameritas Life Insurance Corp., 5900 O Street, Lincoln, Nebraska 68510; Ameritas Life Insurance Corp. of New York, (licensed in New York) 1350 Broadway, Suite 2201, New York, New York 10018; and Ameritas Investment Corp., member FINRA/SIPC. Each company is solely responsible for its own financial condition and contractual obligations. For more information about Ameritas, visit ameritas.com. 6

8 Ameritas Advanced Markets Team We can help you with comprehensive case design, analysis and product selection in the following areas: Estate planning Executive compensation planning Business succession planning Bonus, split dollar, and deferred compensation Document review Client advisor conference calls Non-qualified annuities Life insurance, annuity, and disability tax planning SEPs, SIMPLEs, IRAs RMD, 72t, and stretch calculations Retirement income planning If you have questions, please call your Ameritas advanced markets team. Helping you help your clients. Call , option 2. Ameritas Life Insurance Corp. Ameritas Life Insurance Corp. of New York The information presented here is not intended as tax or other legal advice. For application of this information to your client s specific situation, your client should consult an attorney. Ameritas and the bison design are registered service marks of Ameritas Life Insurance Corp. Fulfilling life is a registered service mark of affiliate Ameritas Holding Company Ameritas Mutual Holding Company