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Tax Facts

Indiana County Tax Rates

Tax Facts1

 
 

Deductions, Exemptions, Etc.

 
 

2017

2018

2019

 

FICA Wage Base

 $     127,200

 $     128,400

 $      132,900

 

Medicare Additional Tax Wage Base

   

Single (S)

 $     200,000

 $     200,000

 

 

Married Filing Jointly (MFJ)

 $     250,000

 $     250,000

 

 

Standard Deduction

   

Single (S)

 $         6,350

 $       12,000

 $        12,200

 

Married Filing Jointly (MFJ)

 $       12,700

 $       24,000

 $        24,400

 

Head of Household (HOH)

 $         9,350

 $       18,000

 $        18,350

 

Married Filing Separately (MFS)

 $         6,350

 $       12,000

 $        12,200

 

Additional for age 65 or older or blind, each (MFJ, MFS)

 $         1,250

 $         1,300

 $          1,300

 

Additional for age 65 or older or blind, each (S, HOH)

 $         1,550

 $         1,600

 $          1,650

 

Personal Dependent Exemption

 $         4,050

 N/A

 N/A

 

Itemized Deduction & Personal Exemption phase-out begins at AGI of:

   

MFJ

 $     313,800

 N/A

 N/A

 

S

 $     287,650

 N/A

 N/A

 

HOH

 $     287,650

 N/A

 N/A

 

MFS

 $     156,900

 N/A

 N/A

 

"Kiddie Tax" unearned income threshold

 $         2,100

 $         1,100

 $          1,100

 

Foreign earned income exclusion

 $     102,100

 $     103,900

 $      105,900

 
   

Standard Mileage Rates

 
 

2017

2018

2019

 

Standard Mileage

 $         0.535

 $         0.545

 $          0.580

 

Charity Mileage

 $         0.140

 $         0.140

 $          0.140

 

Medical/Moving Mileage

 $         0.170

 $         0.180

 $          0.200

 

Travel per diem: High Cost Locality

See www.gsa.gov for location specific

 

All Other Localities

 $       142.00

 $       144.00

 

 
   

Retirement Plan Contribution Limits

 
 

2017

2018

2019

 

SIMPLE IRA Limit

 $       12,500

 $       12,500

 $        13,000

 

SIMPLE >50 Catch-up

 $         3,000

 $         3,000

 $          3,000

 

401(k) Limit

 $       18,000

 $       18,500

 $        19,000

 

401(k) Catch-up

 $         6,000

 $         6,000

 $          6,000

 

403(b) Limit

 $       18,000

 $       18,500

 $        19,000

 

403(b) Catch-up

 $         6,000

 $         6,000

 $          6,000

 

Regular IRA Limit

 $         5,500

 $         5,500

 $          6,000

 

Regular IRA Catch-up

 $         1,000

 $         1,000

 $          1,000

 

Roth IRA Limit

 $         5,500

 $         5,500

 $          6,000

 

Roth IRA Catch-up

 $         1,000

 $         1,000

 $          1,000

 

Regular IRA Contribution Phase-out Begins at AGI of Active Retirement Plan Participants:

   

MFJ (Participating Spouse)

 $       99,000

 $     101,000

 $      103,000

 

MFJ (Non-participating Spouse)

 $     186,000

 $     189,000

 $      193,000

 

S, HOH

 $       62,000

 $       63,000

 $        64,000

 

MFS

 $               -  

 $               -  

 $                  -

 

Roth IRA Contributions Phase-out Begins at AGI of:

   

MFJ

 $     186,000

 $     189,000

 $      193,000

 

S, HOH

 $     118,000

 $     120,000

 $      122,000

 

MFS

 $               -  

 $               -  

 $                  -

 

Profit Sharing Plan/SEP Contribution Limit

 $       54,000

 $       55,000

 $        56,000

 

Compensation Limit (For Employer Contributions to Profit-sharing Plans)

 $     270,000

 $     275,000

 $      280,000

 
   

Qualified Long Term Care Premium Deduction

 
 

2017

2018

2019

 

40 or <

 $            410

 $            420

 $             420

 

50 or <

 $            770

 $            780

 $             790

 

50 or <

 $         1,530

 $         1,560

 $          1,580

 

70 or <

 $         4,090

 $         4,160

 $          4,220

 

> 70

 $         5,110

 $         5,200

 $          5,270

 

Long Term Care Excludable Per Diem

 $            360

 $            360

 $             370

 
         

Qualified Business Income Deduction

 
 

2017

2018

2019

 

Phaseout:

       

MFJ

 N/A

 $     315,000

 $      321,400

 

MFS

 N/A

 $     157,500

 $      160,725

 

S, HOH

 N/A

 $     157,500

 $      160,700

 
   

Section 179 Deduction

 
 

2017

2018

2019

 

Limit

 $     500,000

 $  1,000,000

 

 

Qualifying Property Phase-out Threshold

 $  2,000,000

 $  2,500,000

 

 

Depreciation Limit - Autos (1st Year)

 $         3,160

 $       10,000

 

 

Depreciation Limit - Trucks and Vans (1st Year)

 $         3,560

 

 

 

Depreciation Limit - Autos (1st Year) with Bonus Depreciation

 $       11,160

 $       18,000

 

 

Depreciation Limit - Trucks and Vans (1st Year) with Bonus Depreciation

 $       11,560

 

 

 
   

Education Deductions, Credits, & Phase-outs

 
 

2017

2018

2019

 

American Opportunity Tax Credit - Maximum Per Student

 $         2,500

 $         2,500

 

 

Lifetime Learning Credit - Maximum Credit Per Return

 $         2,000

 $         2,000

 

 

Tuition and Fees Deduction

 -

 -

 

 

Education Loan Interest

 $         2,500

 $         2,500

 $          2,500

 

American Opportunity Tax Credit Phase-out Begins at AGI of:

   

MFJ

 $     160,000

 $     160,000

 

 

S, HOH

 $       80,000

 $       80,000

 

 

MFS

 Not Allowed

 Not Allowed

 

 

Lifetime Learning Credit Phase-out Begins at AGI of;

   

MFJ

 $     112,000

 $     114,000

 $      116,000

 

S, HOH

 $       56,000

 $       57,000

 $        58,000

 

MFS

 Not Allowed

 Not Allowed

 Not Allowed

 

Student Loan Interest Deduction Phase-out Begins at AGI of:

   

MFJ

 $     135,000

 $     135,000

 $      140,000

 

S, HOH

 $       65,000

 $       65,000

 $        70,000

 

MFS

 Not Allowed

 Not Allowed

 Not Allowed

 
   

Health Savings Account Limits

 
 

2017

2018

2019

 

Health Savings Accounts (HSA)

       

Self-only Coverage:

   

Contribution Limit

 $         3,400

 $         3,450

 

 

Plan Minimum Deductible

 $         1,300

 $         1,350

 

 

Plan Out-of-pocket Limit

 $         6,550

 $         6,650

 

 

Family Coverage:

   

 

 

Contribution Limit

 $         6,750

 $         6,900

 

 

Plan Minimum Deductible

 $         2,600

 $         2,700

 

 

Plan Out-of-pocket Limit

 $       13,100

 $       13,300

 

 

Additional Contribution Limit - Age 55 or Older

 $         1,000

 $         1,000

 

 

Flexible Spending Account (FSA) Contribution Limit

 $         2,600

 $         2,650

 $          2,700

 
   

Gift Tax Exclusion

 
 

2017

2018

2019

 

Estate Tax Exclusion

 $  5,490,000

 $11,180,000

 $ 11,400,000

 

Gift Tax Annual Exclusion

 $       14,000

 $       15,000

 $        15,000

 
   

Earned Income Credit

 
 

2017

2018

2019

 

AGI must be less than (MFJ)

 

 

No Qualifying Children

 $       20,600

 $       21,000

 $        21,370

 

One Qualifying Child

 $       45,207

 $       46,102

 $        46,884

 

Two Qualifying Children

 $       50,597

 $       51,598

 $        52,493

 

Three or More Qualifying Children

 $       53,930

 $       54,998

 $        55,952

 

Maximum Amount of Credit (All filers except MFS)

   

No Qualifying Children

 $            510

 $            519

 $             529

 

One Qualifying Child

 $         3,400

 $         3,461

 $          3,526

 

Two Qualifying Children

 $         5,616

 $         5,716

 $          5,828

 

Three or More Qualifying Children

 $         6,318

 $         6,431

 $          6,557

 
         

12019 Numbers are estimates and will not be finalized until 2019.