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Tax Season Calculators, Tools, and Tips For 2018 - 2019

Tax Bracket Calculator 2018 - 2019

When it comes time to pay the piper "Uncle Sam". there's a multitude of calculations that have to be done to figure out that bottom line number used to determine your financial fate.

Now as if the obligation of paying taxes wasn't enough, determining what you owe is calculated by adding several figures together from each tax bracket that you climb into and past.

In other words, a tax bracket calculator tells you what your tax rate is for the portion of income you make that falls within that bracket, and each portion of income falling into additional tax brackets.

As your income goes up it is calculated and added to the previous bracket total. Confusing Right?

Well no need to worry, federal income tax calculators work with all these figures to determine what your tax liability will be... Now tax liability doesn't sound good, but having a tool that allows you to not torque your brain with tax calculations does helps!

 Calculate Tax Refund with TurboTax

 Calculate Tax Refund with H&R Block

Our tax bracket calculator below will show you each tax bracket your income falls within along with the tax rate associated with each tax bracket you have income in. Fun huh... Yeah right?

Federal Tax Bracket Calculator

How to use our Tax Brackets Calculator

It's simple! select your filing status and the tax year being filed (year income was earned) to calculate your tax bracket rates and see how much money the Internal Revenue Service (IRS) is going to siphon out of your pockets. Gosh dang it...

U.S. tax brackets are adjusted on an annual basis. These annual adjustments account for inflation, or recession, and result in changes to the federal income tax brackets to compensate for these economic changes.

The Bureau of Labor Statistics Consume Price Index for Urban Consumers (CPI-U), is used for determining the changes needed for economic adjustments to the tax brackets. These adjustments may or may not be followed by income tax rate changes that in turn play a roll in the amount of our IRS tax liability.

2018 Federal Income Tax Brackets

Rate Individuals Married Filing Jointly
10% Up to $9,525 Up to $19,050
12% $9,526 to $38,700 $19,051 to $77,400
22% 38,701 to $82,500 $77,401 to $165,000
24% $82,501 to $157,500 $165,001 to $315,000
32% $157,501 to $200,000 $315,001 to $400,000
35% $200,001 to $500,000 $400,001 to $600,000
37% over $500,000 over $600,000

So what are the big changes in the tax brackets for the 2018 - 2019 tax season "2018 income".

The number of brackets remained the same at seven but the rate ranges have changed. Rates overall, however, have been reduced somewhat. For individuals, these lower rates are scheduled to expire in 2025 unless Congress extends them, yup the greed of burdening the ordinary individual over corporate breaks which are permanent.

Income Tax Example, Single Tax Filer Brackets

Rate Tax Bracket Taxes Owed
10% $0 to $9,525 10% of taxable income
12% $9,526 to $38,700 $952.50 plus 12% of the amount over $9,525
22% $38,701 to $82,500 $4,453.50 plus 22% of the amount over $38,700
24% $82,501 to $157,500 $14,089.50 plus 24% of the amount over $82,500
32% $157,501 to $200,000 $32,089.50 plus 32% of the amount over $157,500
35% $200,001 to $500,000 $45,689.50 plus 35% of the amount over $200,000
37% $500,001 or more $150,689.50 plus 37% of the amount over $500,000

How Federal Income Tax Brackets Work

The United States works with a progressive tax system where people with higher taxable incomes pay higher rates for portions of their federal income taxes.

Only the amount of income falling into one tax bracket is taxed at that federal income tax rate. Income falling into the next tax bracket is taxed at that higher rate, and so on. The progressive tax system means that people with higher taxable incomes are subjected to higher federal income tax rates on higher amounts of income.

People with lower taxable incomes are subject to lower federal income tax rates because they don't make enough to get into higher tax brackets.

The government divides your taxable income into chunks — known as tax brackets — and each chunk gets taxed at its corresponding tax rate.

Regardless of which bracket you’re in, you won’t pay that rate on your entire income unless your just in the lowest tax bracket.