The 2019 federal income tax brackets & tax rates

Marin Perez

The IRS has announced the tax rates and brackets for 2019. These are the rates for the 2019 tax year. You'll use these rates when you file taxes in 2020. Use the 2018 tax rates when you file taxes in April 2019.

What are the 2019 income tax brackets?

         2019 Tax Rate      Individual      Married, Filing Jointly  Head of Household        10%  0 to $9700  0 to $19400  0 to $13850        12%  $9701 to $39475  $19401 to $78950  $13851 to $84200      22%  $39476 to $84200  $78951 to $168400  52851 to $84200        24%  $84201 to $160725  $168401 to $321450  $84201 to $160700        32%  $160726 to $204100  $321451 to $408200  $160701 to $204100        35%  $204101 to $510300  $408201 to $612350  $204101 to $510300        37%  $510301 and up  $612351 and up  $510301 and up          

How do I use the 2019 tax rates?

You'll use the 2019 tax rates when you file taxes for that year. Typically, that's done by April 2020.

What will the standard deduction be in 2019

The standard deduction sees some slight increases:

    Filing Status Standard Deduction Amount   Single $12200   Married, Filing Jointly $24400   Married, Filing Separately $12200   Head of Household $18350    

Why are the differences?

The tax rates remain the same but the brackets have changed. The difference is due to an annual inflation adjustment. It impacts more than 60 tax provisions, including these tax rate schedules.

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Any significant changes I should know about?

The IRS singled out a few other changes:

  • The 2019 Alternative Minimum Tax exemption amount for 2019 is $71,700 for individuals, $111,700 for married, filing jointly.
  • The 2019 AMT beings to phase out at $510,300 for individuals, $1,020,600 for married, filing jointly.
  • The annual exclusion for gifts in 2019 is $15,000, the same as 2018.
  • If you're claiming the Lifetime Learning Credit, the adjusted gross income amount used by joint filers in 2019 is $116,000, up from $114,000.
  • The standard deduction is increasing: $12,200 for individuals and $24,400 for married taxpayers filing jointly. This is a $200 and $400 increase over 2018, respectively.

How can I maximize these new tax rates?

Many experts offer the same advice as previous years: maximize your tax-advantaged accounts like your 401K and to claim as many deductions as you're eligible for. If you're self-employed, don't forget to deduct business expenses like your business mileage.

How have deductions changed?

The tax reform law has changed deductions a bit. Some major deductions changers are:

  • State and local taxes. The SALT deductions may not exceed $10,000.
  • Mortgage interest. This deduction remains but has been tweaked for mortgages taken after December 15, 2017.
  • Unreimbursed employee expenses. Miscellaneous deductions which exceed 2 percent of your AGI are no longer deductible. This includes things like unreimbursed mileage for W2 workers.

There are a variety of other changes to the tax code, so please consult a tax pro before making any decisions.

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