Quick Facts

Standard Deductions 2016 2017 2018
 Joint or Qualifying Widow(er) $12,600 $12,700 $24,000
Single $6,300 $6,350 $12,000
Head of Household $9,300 $9,350 $18,000
Married Filing Separately $6,300 $6,350 $12,000
Additional for Elderly/Blind Married $1,250 $1,250 $1,300
Additional for Elderly/Blind Unmarried $1,550 $1,550 $1,600
Taxpayer Claimed as Dependent

(with only unearned income)

$1,050 $1,050 $1,050
Personal/Dependent Exemption $4,050 $4,050 $4,150
Unearned Income without Kiddie Tax $2,100 $2,100 $2,100
Beginning of Personal Exemption and Itemized Deductions Phaseout Range-Based on AGI
Joint or Surviving Spouse $311,300 $313,800 $320,000
Single $259, 400 $261,500 $266,700
Head of household $285,350 $287,650 $293,350
Married Filing Separately $155,650 $156,900 $160,000
   
FICA/SE Tax Information
FICA/SE Taxable Maximum Earnings $118,500 $127,200 $128,400
FICA Tax Rate (Employee) 6.2% 6.2% 6.2%
SE Tax Rate 12.4% 12.4% 12.4%
Medicare/SE Tax Information
Taxable Maximum Earnings Unlimited Unlimited Unlimited
Medicare Tax Rate (Employee) 1.45% 1.45% 1.45%
SE Tax Rate 2.90% 2.90% 2.90%
Auto Standard Mileage Allowances
Business $0.54 $0.535 $0.545
Charity Work $0.14 $0.14 $0.14
Medical/Moving $0.19 $0.17 $0.18
Earnings Ceiling for Social Security
Below Age 65 $15,720 $16,920 $17,040
Full Retirement Age Unlimited Unlimited Unlimited
   
Federal Minimum Wage $7.25 $7.25 $7.25
   
Ohio Minimum Wage $8.10 $8.15 $8.30
   
IRS Section 179 Expense Election $500,000 $500,000 $1,000,000

*From tax return due date or filing date, plus any amended returns, whichever is later