Year 2019 – Looking Forward to Change

Here are some of the tax changes for 2019. Keep watching this space for updated tax information:

Income Tax Rates for Individuals for Year 2019

Tax Bracket Single Married Filing Jointly Head of Household Married Filing Separately
10% $0-$9,700 $0-$19,400 $0-$13,850 $0-9,700
12% $9,700-$39,475 $19,400-$78,950 $13,850-$52,850 $9,700-$39,475
22% $39,475-$84,200 $78,950-$168,400 $52,850-$84,200 $39,475-$84,200
24% $84,200-$160,725 $168,400-$321,450 $84,200-$160,700 $84,200-$160,725
32% $160,725-$204,100 $321,450-$408,200 $160,700-$204,100 $160,725-$204,100
35% $204,100-$510,300 $408,200-$612,350 $204,100-$510,300 $204,100-$306,175
37% >$510,300 >$612,350 >$510,300 >$306,175

FICA 2019 (6.2%) maximum wage limit increases to $132,900 from $128,400 for 2019, an increase of $4,500 from 2018. There is no Medicare (1.45%) maximum wage limit for 2019. Starting 1/1/2013, a 0.9 percent Additional Medicare Tax applies to all wages that exceed $200,000 ($250,000 for joint return filers and $125,000 for married filing separately filers).

Standard Deduction Amounts for year 2019

  • MFJ & Surviving Spouses – $24,400
  • HH  $ 18,350
  • Single – $ 12,200
  • Individual who may be claimed as a dependent limited to greater of $1,100 or the sum of $350 plus individual’s earned income.

Business-meeting

Plus Over 65 or Blind Deduction for year 2019

  • Over 65 or blind MFJ may deduct an additional $1,300.
  • Over 65 or blind single, not a surviving spouse taxpayers may deduct an additional $1,650.

Personal Exemption Deduction for year 2019

  • This Personal Exemption Deduction was repealed effective 1/1/18 under the Tax Cuts and Jobs Act.

Long-term Care Premiums deducted as medical care for year 2019

  • Age <41………………….$ 420
  • Age >40 but <51……….$ 790
  • Age >50 but <61……..$1,580
  • Age >60 but <71……..$4,220
  • Age >70………………..$5,270

Standard Mileage Rates for year 2019

  • Business …………….. $.58/mi.
  • Charitable …………… $.14/mi.
  • Medical ………………. $.20/mi.
  • Moving ……………….. $.20/mi.

You can also check some of the other sections of this website for a brief history of past tax changes. Contact us at 301-649-1600 or 703-269-3918 to get all the answers you need.

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Kensington, MD 20895

Phone: 301-649-1600

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Vienna, VA 22182

Virginia Phone: 703-269-3918

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