2019 Tax Limits/Thresholds




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Feb 01, 2019

2019 Tax Limits/Thresholds

PROVISION

2019

2018

Personal exemption

Suspended through 2025

Suspended through 2025

Standard deduction

• Single

$12,200

$12,000

• Joint returns and surviving spouses

$24,400

$24,000

• Married filing separately

$12,200

$12,000

• Head of household

$18,350

$18,000

• Additional for elderly or blind (married)

$1,300

$1,300

• Additional for elderly or blind (single)

$1,650

$1,600

Alternative minimum tax exemption

• Single

$71,700

$70,300

• Married, joint

$111,700

$109,400

• Married, separate

$55,850

$54,700

Social Security earnings limit

• Under full retirement age

$17,640

$17,040

• Full retirement age

No limit

No limit

• Maximum wages subject to Social Security tax

$132,900

$128,400

Estate tax top rate

40%

40%

Estate tax exclusion

$11,400,000

$11,180,000

Annual gift tax exclusion (per donee)

$15,000

$15,000

Contribution limit

• HSA for single

$3,500

$3,450

• HSA for family

$7,000

$6,900

• HSA additional for 55 or older

$1,000

$1,000

• IRA for those under age 50

$6,000

$5,500

• IRA for those 50 and over

$7,000

$6,500

• SIMPLE plan for those under age 50

$13,000

$12,500

• SIMPLE plan for those 50 and over

$16,000

$15,500

• 401(k) plan for those under age 50

$19,000

$18,500

• 401(k) plan for those 50 and over

$25,000

$24,500

"Kiddie tax" threshold

$2,200*

$2,100*

"Nanny tax" threshold

$2,100

$2,100

*Starting in 2018, this income to be subject to trust and estate tax rates.

As you plan for 2019, be aware that Congress may make changes to the tax code. Call prior to making major business and personal financial decisions so that current rules and pending changes can be considered.



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