Tax 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 |
Maximum employee contribution to SIMPLE IRA | $12,500 if under age 50 |
Maximum Contribution to SEP IRA | 25% of eligible compensation |
401(k) maximum employee contribution limit | $18,000 if under age 50 |
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 |