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2019 Tax Bracket Changes and Standard Deduction Increases

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  • J.K.Logic
    2018-12-23 02:56:39 PM
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    2019 will see marginally different tax bracket numbers and standard deduction increases for all taxpayers so I thought I'd share them here. Remember this will be for when you file you 2019 taxes in 2020. Per Forbes (2018 v 2019):

    This is the 2018 standard deduction table:

    And this is the 2019 standard deduction table:

    Std 2019

    So a few hundred dollar increase for everyone. Not a lot, but at least its something. And for the tax bracket changes..

    This is the 2018 Individual Tax Bracket:

    And here's the slightly updated 2019 Individual Tax Bracket:

    Single 2019

    The same small increases will also be added to all filing status brackets, like Married Filing Jointly:

    2018's:

    2019's:

    MFJ 2019

  • J.K.Logic
    2018-12-23 02:59:53 PM
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    Forbes really did a good job breaking everything done, so here are the 2 articles I used to get that info:

    IRS Announces 2018 Tax Rates, Standard Deductions, Exemption Amounts And More

    IRS Announces 2019 Tax Rates, Standard Deduction Amounts And More

  • bryce28
    2018-12-23 09:13:47 PM
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    At least the standard deduction will almost cover my cost for filing taxes. Very Happy Thanks for the share; all good to know!
  • justin412
    2019-03-20 04:55:27 PM
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    It was certainly easier to file my taxes this year since the standard deduction made it so I didn't have to worry about itemizing everything. However, it didn't seem to make much of a difference at all in the end. Wound up paying roughly the same as previous years when all was said and done.
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