Tax Information For 2018

 

 

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Social Security Wage Base
For 2018 the social security wage base is $128,400. This is an increase from the 2017 wage base of $127,200.

Mileage Rates
For 2018, the mileage allowance is 54.5 cents per mile for business travel. Miles driven for medical care or for a qualified move is 18 cents per mile. The mileage rate for providing services to a charity remains at 14 cents per mile.

2018 Federal Standard Deductions
$12,000 for single filers & married filing separately (up from $6,500 in 2017) $24,000 for married filers (up from $13,000) $18,000 for head of household (up from $9,550
*Beginning in 2018, personal exemptions are eliminated.

Retirement Plan Contribution Limits

Other Tax Information for 2018

These are only a few key points regarding tax information for 2018. Please notify us if you have any questions or concerns.