2018 Facts Tax Facts.

Welcome to our annual at-a-glance compilation of federal and state tax information. User-friendly tax rate schedules, facts, figures and assorted data make this time-saving section a handy companion. Keep it within arm's reach as you enter the upcoming busy season.

2018 TAX DATA SCHEDULE 2018 Federal Standard Deductions Single $12,000 Married Filing Jointly, Surviving Spouse 24,000 Married Filing Separately 12,000 Head of Household 18,000 Additional for Age 65 and Older or Blind--Married 1,300 Additional for Age 65 and Older or Blind--Unmarried 1,600 (per individual for each situation, age or blind) Taxpayer Claimed as a Dependent 1,050 Personal or Dependent Exemption Suspended for tax years 2018-2025 California Exemption Credits Single, Married Filing Separately, Head of Household Married Filing Jointly, Surviving Spouse Dependent Blind or Age 65 and Older Senior Head of Household Credit 2% of California taxable income, maximum California AGI of $76,082 with maximum credit of California Joint Custody Head of Household Credit and Dependent Parent Credit Each is 30% of net tax with maximum credit of Child and Dependent Care Credit Percentage of federal credit for California AGI limits $0-40,000 40,001-70,000 70,001-100,000 100,001 or more California Renter's Credit Married Filing Jointly, Head of Household, Surviving Spouse if AGI is below $76,082 Single or Married Filing Separately if AGI is below $41,641 IRC Section 179 Deduction $1,000,000 Sec. 179 Purchase Phaseout $2,500,000 Beginning of Personal Exemption Phase-out Range--Based on Federal AGI Single N/A Married Filing Jointly, Surviving Spouse N/A Married Filing Separately N/A Head of Household N/A Beginning of Itemized Deduction Phase-out Range--Based on Federal AGI Single Limitation on Married Filing Jointly, Surviving Spouse federal itemized Married Filing Separately deductions is Head of Household suspended for tax Rate Reduced over federal AGI limits years 2018-2025 Schedule A Medical Deduction Based on federal AGI 7.5% Schedule A State & Local Tax Deduction Max Married Filing Separately $5,000 All others 10,000 Schedule A Mortgage Interest Cap Only ded. on debt $1,100,000 up to $750,000 (*) (*) loans entered into before 12/15/17 are not subject to this limitation Schedule A Miscellaneous Deduction Suspended for tax Based on federal AGI years 2018-2025 Alternative Minimum Tax (AMT) Rate AMTI Less Exemption up to $191,500 26% AMTI Less Exemption over $191,500 ($95,750 if Married Filing Separately) 28% AMTI Less Exemption AMT Exemption Amounts Married Filing Jointly, Surviving Spouse $109,400 Single, Head of Household 70,300 Married Filing Separately 54,700 Estate or Trust 24,600 AMT Exemption Phase-out Married Filing Jointly, Surviving Spouse $1,000,000 Single, Head of Household 500,000 Married Filing Separately 500,000 Estate or Trust, if AMTI is less than $180,330 81,900 199A Overview Maximum Deduction 20% of Qualified Business Income (*) (*) subject to wage and property...