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Individual Income Tax Planning  2019 Federal Income Tax Rate Schedules

 2018 Federal Income Tax Rate Schedules  Business Planning  Education Planning  

Protection Planning  Estate Planning  Government Benefits  Retirement Planning  Investment Planning

2019 Business Planning Key Numbers

Adoption Assistance Programs

Adoption assistance20182019
Maximum amount that can be excluded from employee's gross income$13,810$14,080
Phaseout threshold amount$207,140$211,160
Completed phaseout amount after$247,140$251,160


Earnings subject to FICA taxes (taxable wage base)

FICA tax20182019
Maximum annual earnings subject to Social Security taxes$128,400$132,900
Social Security and Medicare combined tax rate15.30%115.30%1
OASDI portion (Social Security)12.40%12.40%
Hospital Insurance portion (Medicare)2.90%12.90%1

1 An additional Medicare (HI) employee contribution rate of 0.9% (for a total employee contribution of 2.35%, and a total combined Medicare contribution rate of 3.8%) is assessed on wages exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns). For married individuals filing joint returns, the additional 0.9% tax applies to the couples combined wages (to the extent the combined wages exceed $250,000).

Health insurance deduction for self-employed

Health insurance premiums20182019
Deduction for health insurance premiums paid by self-employed persons100%100%


Qualified transportation fringe benefits

Qualified transportation fringe benefits20182019
Commuter vehicles and transit pass monthly exclusion amount$260$265
Qualified parking monthly exclusion amount$260$265
Qualified bicycle commuting reimbursement fringe benefit (monthly amount)N/AN/A


Section 179 expensing

Section 179 expensing20182019
Maximum amount that may be deducted under IRC Section 179$1,000,000$1,020,000
Deduction reduced by the amount by which the cost of §179 property placed in service during the year exceeds this amount$2,500,000$2,550,000


Small business tax credit for providing health-care coverage

Amount of credit20182019
Maximum credit percentage50%50%
Partial credit20182019
Number of full-time equivalent employees (FTEs) fewer than:2525
Maximum average annual wages less than:$53,200$54,200
Full credit20182019
Number of full-time equivalent employees (FTEs) no more than:1010
Maximum average annual wages less than or equal to:$26,600$27,100


Special additional first-year depreciation allowance

Bonus depreciation20182019
"Bonus" depreciation for qualified property acquired and placed in service during specified time periods100%100%


Standard mileage rate (per mile)

Business use of auto20182019
Use of auto for business purposes$0.545$0.58


Tax on accumulated earnings and personal holding company income

Accumulated earnings and personal holding company income20182019
Maximum tax on these items20%20%


Individual Income Tax Planning  2019 Federal Income Tax Rate Schedules

 2018 Federal Income Tax Rate Schedules  Business Planning  Education Planning  

Protection Planning  Estate Planning  Government Benefits  Retirement Planning  Investment Planning

This information was prepared by Broadridge Investor Communication Solutions, Inc. and has been made available for Voya Financial Advisors’ representatives for distribution to the public for educational information only. Broadridge Investor Communication Solutions, Inc. is not affiliated with nor controlled by Voya Financial Advisors. The opinions/views expressed within are that of Broadridge Investor Communication Solutions, Inc. and do not necessarily reflect those of Voya Financial Advisors or its representatives. In addition, they are not intended to provide specific advice or recommendations for any individual. Neither Voya Financial Advisors nor its representatives provide tax or legal advice. You should consult with your financial professional, attorney, accountant or tax advisor regarding your individual situation prior to making any investment decisions.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019.