Joseph Oommen | CPA
215.676.7666

Tax rates

Your taxable income

= Gross Income – Standard Deduction – Total Exemptions

Standard Deduction and Personal Exemption

Single $6,300
Married Filing Jointly (MFJ) $12,600
Head of Household (HH) $9,250
Personal Exemption $4,000

Federal Income Tax Brackets

Tax Rate Single Married Filing Jointly
or Qualified Widow(er)
Head of
Household
Married
Filing Separately
% Min. Max. Min. Max. Min. Max. Min. Max.
10% 0 9,525 0 19,050 0 13,600 0 9,525
12% 9,526 38,700 19,051 77,400 13,601 51,800 9,525 38,700
22% 38,701 82,500 77,401 165,000 51,801 82,500 38,701 82,500
24% 82,501 157,500 165,001 315,000 82,501 157,500 82,501 157,000
32% 157,501 315,001 315,001 400,000 157,501 200,000 157,001 200,000
35% 200,001 500,000 400,001 600,000 200,001 500,000 200,001 300,000
37% 500,001 or more 600,001 or more 500,001 or more 300,001 or more

Source

Other credits

Child tax credit for kids under 16:   $1,000
College tuition credit up to:   $2,000
Energy efficiency credit up to:   $500

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