For your convenience, tax rate tables for both 2017 and 2018 are listed below.

2018 PERSONAL INCOME TAX RATES

Rates

Joint

Single

10%

$0 - $19,050

$0 - $9,525

12%

$19,050 - $77,400

$9,525 - $38,700

22%

$77,400 - $165,000

$38,700 - $82,500

24%

$165,000 - $315,000

$82,500 - $157,500

32%

$315,000 - $400,000

$157,500 - $200,000

35%

$400,000 - $600,000

$200,000 - $500,000

37%

Over $600,000

Over $500,000

2017 PERSONAL INCOME TAX RATES

Rates

Joint

Single

10%

$0 - $18,650

$0 - $9,325

15%

$18,650 - $75,900

$9,325 - $37,950

25%

$75,900 - $153,100

$37,950 - $91,900

28%

$153,100 - $233,350

$91,900 - $191,650

33%

$231,450 - $416,700

$191,650 - $416,700

35%

$416,700 - $470,700

$416,7000 - $418,400

39.6%

Over $470,700

Over $418,400

2018 Personal Exemption:  $0
Child Tax Credit: $2,000 ($1,400 of which is a refundable tax credit)
Standard Deductions:  $24,000 Joint, $12,000 Single
AGI Limitation on Charitable Gifts of Cash to Public Charities: 60%

God's hand of protection on the U.S. tax code and its charitable deductions has been gracious. The Tax Cuts and Jobs Act (TCJA), signed into law by President Trump on December 22, 2017, lowered individual tax rates at all income levels and introduced changes--mostly positive--to the standard deduction, the child-care tax credit, itemized deductions, and several other provisions of the tax code. Each person’s situation is unique; therefore, for specific application of how the TCJA affects you, please consult your own tax advisor. Our team of professionals at The Cru Foundation, also known as The Great Commission Foundation of Campus Crusade for Christ, Inc., is available, however, to provide broad guidance on how these changes may affect you. And by engaging in our Estate Design Service, we can show you how, with proper planning, taxes, fees, and costs in your estate plan can be reduced or even zeroed out.  This service is complimentary, confidential, and without obligation. You can contact us at The Cru Foundation team by calling toll free (800) 449-5454 or by email at: [email protected]. When you call or email, mention code NY0JWP.

GIFT AND ESTATE TAXES

Good news on several transfer tax-fronts! The unified gift/estate tax exemption for 2018 was doubled to $11.2 million (approximately) and the top tax rate has remained at 40%.  With this increased exemption, you can transfer up to $11.2 million (approximately) during your lifetime, or at your death, without any gift or estate tax.

Additionally, the “annual exclusion” from the gift tax has been increased to $15,000 per person, per recipient. This allows each person to give multiple individual gifts of $15,000 each year during his or her lifetime without incurring a gift tax.

ESTATE TAX RATES

Tax Year
Taxable Estate
Marginal Rate on Excess

2015

$5,430,000

40%

2016

$5,450,000

40%

2017

$5,490,000

40%

2018

$11.2 million (approximately)

40%