Income Tax Calculator Usa 2018
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Reviewed by Calculator Editorial Team
Use this 2018 US federal income tax calculator to estimate your tax liability based on your taxable income. The calculator uses the 2018 tax brackets and rates to provide an accurate estimate of your federal income tax.
How the 2018 US Income Tax Calculator Works
The 2018 US federal income tax calculator uses the progressive tax system established by the Internal Revenue Code. Your taxable income is calculated by subtracting your deductions and exemptions from your total income. The tax is then calculated based on the applicable tax brackets.
Formula
Taxable Income = Total Income - Deductions - Exemptions
Federal Income Tax = Sum of [(Taxable Income in Bracket × Bracket Rate) for each applicable bracket]
The calculator uses the following steps to determine your federal income tax:
- Calculate your taxable income by subtracting your deductions and exemptions from your total income.
- Determine which tax bracket your taxable income falls into.
- Calculate the tax owed for each bracket, starting with the lowest bracket.
- Sum the taxes from all applicable brackets to get your total federal income tax.
2018 US Federal Income Tax Brackets
The 2018 US federal income tax brackets are as follows:
| Taxable Income Range | Tax Rate |
|---|---|
| $0 - $9,525 | 10% |
| $9,526 - $38,700 | 12% |
| $38,701 - $82,500 | 22% |
| $82,501 - $157,500 | 24% |
| $157,501 - $200,000 | 32% |
| $200,001 - $500,000 | 35% |
| $500,001+ | 37% |
For married filing jointly, the brackets are higher, and for other filing statuses, the brackets vary accordingly. The calculator accounts for these differences based on your selected filing status.
2018 Standard Deduction Amounts
The 2018 standard deduction amounts are as follows:
| Filing Status | Standard Deduction |
|---|---|
| Single | $6,350 |
| Married Filing Jointly | $12,700 |
| Married Filing Separately | $6,350 |
| Head of Household | $9,350 |
These amounts are used to calculate your taxable income. The calculator applies the appropriate standard deduction based on your selected filing status.
Example 2018 Income Tax Calculation
Let's calculate the federal income tax for a single filer with $50,000 in total income and no additional deductions or exemptions.
Example Scenario
Total Income: $50,000
Filing Status: Single
Standard Deduction: $6,350
Taxable Income: $50,000 - $6,350 = $43,650
The taxable income of $43,650 falls into the 22% tax bracket. The federal income tax is calculated as follows:
Calculation
$43,650 × 22% = $9,583
Therefore, the estimated federal income tax for this example is $9,583.
Frequently Asked Questions
How do I use the 2018 US income tax calculator?
Enter your total income, select your filing status, and click "Calculate" to see your estimated federal income tax. The calculator will use the 2018 tax brackets and rates to provide an accurate estimate.
What is the difference between taxable income and total income?
Taxable income is your total income minus any deductions or exemptions. The calculator uses your taxable income to determine your federal income tax based on the applicable tax brackets.
How are tax brackets determined?
Tax brackets are determined by the Internal Revenue Code and are based on your filing status. The calculator uses the 2018 tax brackets to calculate your federal income tax.
What is the standard deduction?
The standard deduction is a fixed amount that reduces your taxable income. The calculator applies the appropriate standard deduction based on your selected filing status.
Is this calculator accurate for my specific situation?
This calculator provides an estimate based on the 2018 tax brackets and rates. For an exact calculation, consult a tax professional or use official IRS forms and schedules.