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2017 Tax Rates - Single Taxpayers - Standard Deduction $6,350

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

 

 

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