Alfred A Cohen, CPA

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Description
2018
2019
Maximum Individual Tax Rate (For incomes exceeding) 37.0% 37.0% 
Single

$500,000.00

$ 510,300.00
Married $600,000.00 $ 612,350.00
Personal Exemption n/a n/a
Standard Deductions    
     
Single $12,000.00  $    12,200.00
Married $24,000.00  $    24,400.00
Head of House $18,000.00  $    18,350.00
FICA Taxable Wages $128,400.00  $   132,900.00
FICA % (MAX. Withholding) 6.2% ($7,960.80) 6.2% ($8239.80)
Section 179 Unlimited $1,020,000.00
Estate Tax Unified Credit $11,200,000.00

$11,400,000.00

Non-Taxable Gifts $15,000.00 $15,000.00
Mileage Rates    
Business Travel  $ 0.545 $0.58
Charity   $ 0.14  $0.14
Medical and Moving   $ 0.18   $0.20
Retirement Plans    
Compensation Limit $275,000.00 $280,000.00
Pension/SEP $55,000.00 $ 56,000.00
401k $18,500.00 $ 19,000.00
> 50 Catch Up $6,000.00 $  6,000.00
Simple $12,500.00 $13,000.00
> 50 Catch Up $3,000.00 $ 3,000.00
IRA $5,500.00 $6,000.00
> 50 Catch Up $1,000.00 $1,000.00

 Flexible Spending Accounts

Qualified Employee Fringe Benefits 

 Health Savings Account

      Self Plan

      Family Plan

      Age 55 and Over Catch UP 

$ 2,650.00

 $ 260.00/month

 

$3,450.00

$6,900.00

 $1,000.00

$ 2,700.00 

 

 

$ 3,500.00

$  7,000.00

$1,000.00

 

 

 
     
     
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Our Office

1

52 N. Main St, Marlboro, New Jersey , America

Tel: (732) 577-9300, Mail: info@aaccpa.com