The following article contains information about the federal income tax rates for 2019. You’ll use these tax tables to help you calculate your 2019 taxes in early 2020.
Federal Income Tax Rates (2019)
The table below gives you the marginal tax brackets for single, married couples filing jointly, and head of household.
| Marginal Tax Rate | Single | Married, filing jointly | Head of Household |
|---|---|---|---|
| 10% | $0 to $9,700 | $0 to $19,400 | $0 to $13,850 |
| 12% | $9,701 to $39,475 | $19,401 to $78,950 | $13,851 to $52,850 |
| 22% | $39,476 to $84,200 | $78,951 to $168,400 | $52,851 to $84,200 |
| 24% | $84,201 to $160,725 | $168,401 to $321,450 | $84,201 to $160,700 |
| 32% | $160,726 to $204,100 | $321,451 to $408,200 | $160,701 to $204,100 |
| 35% | $204,101 to $510,300 | $408,201 to $612,350 | $204,101 to $510,300 |
| 37% | $510,301 or more | $612,351 or more | $510,301 or more |
Source: IRS.gov
Long-Term Capital Gains Tax Rates (2019)
| Long-Term Capital Gains Tax Rate & Qualified Dividends | Single | Married, filing jointly | Head of Household |
|---|---|---|---|
| 0% | $0 to $39,475 | $0 to $78,950 | $0 to $52,850 |
| 15% | $39,476 to $510,300 | $78,951 to $612,350 | $52,851 to $510,300 |
| 20% | $510,301 or more | $612,351 or more | $510,301 or more |
Source: IRS.gov
Social Security Benefits Subject to Tax (2019)
| Percentage Subject to Tax | Single | Married, filing jointly |
|---|---|---|
| 0% | $0 to $24,999 | $0 to $31,999 |
| 50% | $25,000 to $34,000 | $32,000 to $44,000 |
| 80% | $34,001 or more | $44,001to $39,375 |
Source: SSA.gov
How to Calculate Your Tax Liability
Let’s take a moment to show you how to calculate your Federal income tax liability so that you can better understand how tax brackets work. Let’s look at the following example using 2019 rates, suppose your taxable income (after deductions and exemptions) is exactly $100,000 and your status is Single; then your tax would be calculated like this:
| $9,700 – $0 | = | $9,700 x 10% | = | $970.00 |
| $39,475 – $9,700 | = | $29,775 x 12% | = | $3,573.00 |
| $84,200 – $39,475 | = | $44,525 x 22% | = | $9.839.50 |
| $100,000 – $84,200 | = | $15,800 x 24% | = | $3,792.00 |
| Total | = | $18,174.50 |
- Marginal Tax Rate: The $100,000 taxable income puts you in the 24% tax bracket, but 24% is your marginal tax rate.
- Effective Tax Rate: Since you’re paying a total of $18,174.50 for your $100,000 taxable income, your effective tax rate is 18.17%.
Although the information in this article helps summarize the changes in Federal Income Tax, you should consult the official IRS.gov web site and a professional tax advisor as needed.
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Pinyo Bhulipongsanon is the owner of Moolanomy Personal Finance and a Realtor® licensed in Virginia and Maryland. Over the past 20 years, Pinyo has enjoyed a diverse career as an investor, entrepreneur, business executive, educator, financial literacy author, and Realtor®.
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