|
2017 Tax Rates – Single Taxpayers – Standard Deduction $6,350
|
2016 Rates |
|
|
10%
|
0 to $9,325
|
|
15%
|
$9,325 to $37,950
|
|
25%
|
$37,950 to $91,900
|
|
28%
|
$91,900 to $191,650
|
|
33%
|
$191,650 to $416,700
|
|
35%
|
$416,700 to $418,400
|
|
39.6%
|
Over $418,400
|
|
2017 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,700
|
|
10%
|
0 to $18,650
|
|
15%
|
$18,650 to $75,900
|
|
25%
|
$75,900 to $153,100
|
|
28%
|
$153,100 to $233,350
|
|
33%
|
$233,350 to $416,700
|
|
35%
|
$416,700 to $470,700
|
|
39.6%
|
Over $470,700
|
|
2017 Tax Rates – Married Filing Separately – Standard Deduction $6,350
|
|
10%
|
0 to $9,325
|
|
15%
|
$9,325 to $37,950
|
|
25%
|
$37,950 to $76,550
|
|
28%
|
$76,550 to $116,675
|
|
33%
|
$116,675 to $208,350
|
|
35%
|
$208,350 to $235,350
|
|
39.6%
|
Over $235,350
|
|
2017 Tax Rates – Head of Household – Standard Deduction $9,350
|
|
10%
|
0 to $13,350
|
|
15%
|
$13,350 to $50,800
|
|
25%
|
$50,800 to $131,200
|
|
28%
|
$131,200 to $212,500
|
|
33%
|
$212,500 to $416,700
|
|
35%
|
$416,700 to $444,500
|
|
39.6%
|
Over $444,500
|
|
2017 Tax Rates – Estates & Trusts
|
|
15%
|
0 to $2,550
|
|
25%
|
$2,550 to $6,000
|
|
28%
|
$6,000 to $9,150
|
|
33%
|
$9,150 to $12,500
|
|
39.6%
|
Over $12,500
|
|
Social Security
|
2017 Tax Rates
|
|
Social Security Tax Rate: Employers
|
6.2%
|
|
Social Security Tax Rate: Employees
|
6.2%
|
|
Social Security Tax Rate: Self-Employed
|
15.3%
|
|
Maximum Taxable Earnings
|
$127,200
|
|
Medicare Base Salary
|
Unlimited
|
|
Medicare Tax Rate
|
1.45%
|
|
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers)
|
0.9%
|
|
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers)
|
3.8%
|
|
Miscellaneous
|
2017 Tax Rates
|
| Personal Exemption |
$4,050 |
|
Business expensing limit: Cap on equipment purchases
|
$2,030,000
|
|
Business expensing limit: New and Used Equipment and Software
|
$510,000
|
|
Prior-year safe harbor for estimated taxes of higher-income
|
110% of your 2017 tax liability
|
|
Standard mileage rate for business driving
|
53.5 cents
|
|
Standard mileage rate for medical/moving driving
|
17 cents
|
|
Standard mileage rate for charitable driving
|
14 cents
|
|
Child Tax Credit
|
$1,000
|
|
Unearned income maximum for children under 19 before kiddie tax applies
|
$1,050
|
|
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket
|
0%
|
|
Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket
|
15%
|
|
Maximum capital gains tax rate for taxpayers in the 39.6% bracket
|
20%
|
|
Capital gains tax rate for unrecaptured Sec. 1250 gains
|
25%
|
|
Capital gains tax rate on collectibles
|
28%
|
|
Maximum contribution for Traditional/Roth IRA
|
$5,500 if under age 50
$6,500 if 50 or older
|
|
Maximum employee contribution to SIMPLE IRA
|
$12,500 if under age 50
$15,500 if 50 or older
|
|
Maximum Contribution to SEP IRA
|
25% of eligible compensation
up to $54,000
|
|
401(k) maximum employee contribution limit
|
$18,000 if under age 50
$24,000 if 50 or older
|
|
Estate tax exemption
|
$5,490,000
|
|
Annual Exclusion for Gifts
|
$14,000
|
|
Education
|
2017 Tax Rates
|
|
American Opportunity Credit (Hope)
|
$2,500
|
|
Lifetime Learning Credit
|
$2,000
|
|
Student Loan Interest Deduction
|
$2,500
|
|
Coverdell Education Savings Contribution
|
$2,000
|
|
Standard Meal Rates for Family Child Care Providers for 2017 income tax returns
|
|
Continental U.S.
|
2016-17 Tax Rates
|
|
For each breakfast
|
$1.31
|
|
For each lunch or supper
|
$2.46
|
|
For each snack (up to 3 per day for each child)
|
$0.73
|
|
Alaska
|
2016-17 Tax Rates
|
|
For each breakfast
|
$2.09
|
|
For each lunch or supper
|
$3.99
|
|
For each snack (up to 3 per day for each child)
|
$1.19
|
|
Hawaii
|
2016-17 Tax Rates
|
|
For each breakfast
|
$1.53
|
|
For each lunch or supper
|
$2.88
|
|
For each snack (up to 3 per day for each child)
|
$0.86
|
|
