2018 Free Money! Tax Tables

Greetings Free Money! fans.  This page contains the 2018 free money amounts, but be aware that this information will be old news if as soon as any new tax laws are passed.  Also, keep in mind that any money beyond the 10% tax bracket will be taxed at the 15% rate.  Finally, the only credit assumed in this chart is the child-tax credit.  (Be sure to check with your tax pro to see if you qualify for other tax-reducing credits.  If so, use them!)

Disclaimer:  This is page/post/blog is not intended as tax or investment advice; it is for mind-altering entertainment purposes only.  You are the captain of your own financial ship, I’m just a guy who blogs in his underwear in Merida, Mexico.    

Taxpayers with No Children

Here are your 2018 Free Money! amounts for those filing:  Single, Married Filing Separate (MFS), and Married (MFJ):

2018 Free Money for:
Single
MFS
Married
Single and MFS Amounts Are the Same.
Standard Deduction
$6,500
$6,500
$13,000
Exemptions
$4,150
$4,150
$8,300
Credits
$0
$0
$0
Total Free Money
$10,650
$10,650
$21,300
Remaining 10% Bracket
$9,525
$9,525
$19,050
Free Money + 10%
$20,175
$20,175
$40,350
Tax Owed
$953
$953
$1,905
Effective Tax Rate
4.72%
4.72%
4.72%

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Married Filing Jointly with Children

If your filing status is Married (MFJ) with children, look here:

Married + Children:
+ 1
+ 2
+ 3
+ 4
+ 5
Only Married + 1 Child Owes Any Federal Income Tax!
Standard Deduction
$13,000
$13,000
$13,000
$13,000
$13,000
Exemptions
$12,450
$16,600
$20,750
$24,900
$29,050
Credits
$10,000
$19,683
$26,350
$33,017
$39,683
Total Free Money
$35,450
$49,283
$60,100
$70,917
$81,733
Remaining 10% Bracket
$9,050
$0
$0
$0
$0
Free Money + 10%
$44,500
$49,283
$60,100
$70,917
$81,733
Tax Owed
$905
$0
$0
$0
$0
Effective Tax Rate
2.03%
0%
0%
0%
0%


Head of Household with Children

If you file as the Head of Household (HH) with children, see below:

HH + Children:
+ 1
+ 2
+ 3
+ 4
+ 5
Only HH+ 1 Child Owes Any Federal Income Tax!
Standard Deduction
$9,550
$9,550
$9,550
$9,550
$9,550
Exemptions
$8,300
$12,450
$16,600
$20,750
$24,900
Credits
$10,000
$17,867
$24,533
$31,200
$37,867
Total Free Money
$27,850
$39,867
$50,683
$61,500
$72,317
Remaining 10% Bracket
$3,600
$0
$0
$0
$0
Free Money + 10%
$31,450
$39,867
$50,683
$61,500
$72,317
Tax Owed
$360
$0
$0
$0
$0
Effective Tax Rate
1.14%
0%
0%
0%
0%

Married Filing Separately with Children

Finally, if you file Married Filing Separate (MFS) with children, this section is for you:

MFS + Children:
+ 1
+ 2
+ 3
+ 4
+ 5
MFS Filers Do Not Owe Any Federal Income Tax!
Standard Deduction
$6,500
$6,500
$6,500
$6,500
$6,500
Exemptions
$8,300
$12,450
$16,600
$20,750
$24,900
Credits
$9,838
$16,505
$23,172
$29,838
$36,505
Total Free Money
$24,638
$35,455
$46,272
$57,088
$67,905
10% Bracket
$0
$0
$0
$0
$0
Free Money + 10%
$24,638
$35,455
$46,272
$57,088
$67,905
Tax Owed
$0
$0
$0
$0
$0
Effective Tax Rate
0%
0%
0%
0%
0%

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