2017 Tax Rates Schedule X – Single |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $9,325 | 10% of the taxable amount |
| $9,325 | $37,950 | $932.50 plus 15% of the excess over $9,325 |
| $37,950 | $91,900 | $5,226.25 plus 25% of the excess over $37,950 |
| $91,900 | $191,650 | $18,713.75 plus 28% of the excess over $91,900 |
| $191,650 | $416,700 | $46,643.75 plus 33% of the excess over $191,650 |
| $416,700 | $418,400 | $120,910.25 plus 35% of the excess over $416,700 |
| Over $418,400 | no limit | $121,505.25 plus 39.6% of the excess over $418,400 |
2017 Tax Rates Schedule Y-1 – Married Filing Jointly or Qualifying Widow(er) |
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If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $18,650 | 10% of the taxable amount |
| $18,650 | $75,900 | $1,865 plus 15% of the excess over $18,650 |
| $75,900 | $153,100 | $10,452.50 plus 25% of the excess over $75,900 |
| $153,100 | $233,350 | $29,752.50 plus 28% of the excess over $153,100 |
| $233,350 | $416,700 | $52,222.50 plus 33% of the excess over $233,350 |
| $416,700 | $470,700 | $112,728 plus 35% of the excess over $416,700 |
| $470,700 | no limit | $131,628 plus 39.6% of the excess over $470,700 |
2017 Tax Rates Schedule Y-2 – Married Filing Separately |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $9,325 | 10% of the taxable amount |
| $9,325 | $37,950 | $932.50 plus 15% of the excess over $9,325 |
| $37,950 | $76,550 | $5,226.25 plus 25% of the excess over $37,950 |
| $76,550 | $116,675 | $14,876.25 plus 28% of the excess over $76,550 |
| $116,675 | $208,350 | $26,111.25 plus 33% of the excess over $116,675 |
| $208,350 | $235,350 | $56,364 plus 35% of the excess over $208,350 |
| Over $235,350 | no limit | $65,814 plus 39.6% of the excess over $235,350 |
2017 Tax Rates Schedule Z – Head of Household |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $13,350 | 10% of the taxable amount |
| $13,350 | $50,800 | $1,335 plus 15% of the excess over $13,350 |
| $50,800 | $131,200 | $6,952.50 plus 25% of the excess over $50,800 |
| $131,200 | $212,500 | $27,052.50 plus 28% of the excess over $131,200 |
| $212,500 | $416,700 | $49,816.50 plus 33% of the excess over $212,500 |
| $416,700 | $444,550 | $117,202.50 plus 35% of the excess over $416,700 |
| $444,550 | no limit | $126,950 plus 39.6% of the excess over $444,550 |
2017 Tax Rates Estates & Trusts |
||
If taxable income is over |
But not over |
The tax is |
|---|---|---|
| $0 | $2,550 | 15% of the taxable income |
| $2,550 | $6,000 | $382.50 plus 25% of the excess over $2,550 |
| $6,000 | $9,150 | $1,245 plus 28% of the excess over $6,000 |
| $9,150 | $12,500 | $2,127 plus 33% of the excess over $9,150 |
| $12,500 | no limit | $3,232.50 plus 39.6% of the excess over $12,500 |
Social Security 2017 Tax Rates |
|
| Base Salary | $127,200 |
| Social Security Tax Rate | 6.2% |
| Maximum Social Security Tax | $7,886.40 |
| Medicare Base Salary | unlimited |
| Medicare Tax Rate | 1.45% |
Additional Medicare 2017 Tax Rates |
|
| Additional Medicare Tax | 0.9% |
| Filing status | Compensation over |
| Married filing jointly | $250,000 |
| Married filing separate | $125,000 |
| Single | $200,000 |
| Head of household (with qualifying person) | $200,000 |
| Qualifying widow(er) with dependent child | $200,000 |
Education 2017 Credit and Deduction Limits |
|
| American Opportunity Tax Credit (Hope) | $2,500 |
| Lifetime Learning Credit | $2,000 |
| Student Loan Interest Deduction | $2,500 |
| Coverdell Education Savings Contribution | $2,000 |
Miscellaneous 2017 Tax Rates |
|
| Personal Exemption (Adjusted Gross Income below $156,900) | $4,050 |
| Business Equipment Expense Deduction | $510,000 |
| Prior-year safe harbor for estimated taxes of higher-income | 110% of your 2016 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 per qualifying child |
| Unearned income maximum for children 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 in the 25%, 28%, 33%, or 35% 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 and qualified small business stock | 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 compensation up to $54,000 |
| 401(k) maximum employee contribution limit | $18,000 if under age 50 $24,000 if 50 or older |
| Self-employed health insurance deduction | 100% |
| Estate tax exemption | $5,490,000 |
| Annual Exclusion for Gifts | $14,000 |
| Foreign Earned Income Exclusion | $102,100 |