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What's a debt ceiling?
The government borrows money when spending exceeds receipts. The borrowing is done through the issue of securities by the Treasury and other federal government agencies.
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Costs up 9%
Employers' spending on health coverage for workers spiked abruptly this year
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Employment Taxes Rising
State and federal taxes are rising for employers across the U.S.
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Single Taxable Income Brackets and Rates |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $9,525 |
10% of Taxable Income |
12% |
$9,526 to $38,700 |
$952.50 plus 12% of the excess over $9,525 |
22% |
$38,701 to $82,500 |
$4,453.50 plus 22% of the excess over $38,700 |
24% |
$82,501 to $157,500 |
$14,089.50 plus 24% of the excess over $82,500 |
32% |
$157,501 to $200,000 |
$32,089.50 plus 32% of the excess over $157,500 |
35% |
$200,001 to $500,000 |
$45,689.50 plus 35% of the excess over $200,000 |
37% |
$500,001+ |
$150,689.50 plus 37% of the excess over $500,000 |
Married Filing Joint Taxable Income Brackets and Rates |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $19,050 |
10% of taxable income |
12% |
$19,051 to $77,400 |
$1,905 plus 12% of the excess over $19,050 |
22% |
$77,401 to $165,000 |
$8,907 plus 22% of the excess over $77,400 |
24% |
$165,001 to $315,000 |
$39.279 plus 24% of the excess over $165,000 |
32% |
$315,001 to $400,000 |
$64,179 plus 32% of the excess over $315,000 |
35% |
$400,001 to $600,000 |
$91,379 plus 35% of the excess over $400,000 |
37% |
$600,001+ |
$161,379 plus 37% of the excess over $600,000 |
Head of Household Taxable Income Brackets and Rates |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $13,600 |
10% of taxable income |
12% |
$13,601 to $51,800 |
$1,360 plus 12% of the excess over $13,600 |
22% |
$51,801 to $82,500 |
$5,944 plus 22% of the excess over $51,800 |
24% |
$82,501 to $157,500 |
$12,698 plus 24% of the excess over $82,500 |
32% |
$157,501 to $200,000 |
$30,698 plus 32% of the excess over $157,500 |
35% |
$200,001 to $500,000 |
$44,298 plus 35% of the excess over 200,000 |
37% |
$500,001+ |
$149,298 plus 37 of the excess over $500,000 |
| Source: IRS. |
- Social Security Tax at a rate of 12.4% on wages and self-employment income up to the annual Social Security wage base of $128,400 (versus 127,200 in 2017).
- 2018 Standard Deduction - $24,000 ($12,000 for Single/MFS
- 2018 State and Local Tax Deduction limited to $10,000 for MFJ and Single filers
- Capital Gains tax rates vary depending on whether the gains are short-term or long-term.
Short-term gains taxed at ordinary income tax rates.
Long-term gains and qualified dividends for MFJ taxed at
- 0% for taxable income up to
$77,200
- 15% for taxable income up to$479,000
- 20% for taxable income above $479,001
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