2017 INCOME TAX RATES & INFORMATION
Marginal Ordinary Income Tax Rates
Single
| Rate |
From |
To |
| 10% |
0 |
9,325 |
| 15% |
9,326 |
37,950 |
| 25% |
37,951 |
91,900 |
| 28% |
91,901 |
190,650 |
| 33% |
190,651 |
416,700 |
| 35% |
416,701 |
418,400 |
| 39.6% |
418,401 |
|
|
Head of Household
| Rate |
From |
To |
| 10% |
0 |
13,350 |
| 15% |
13,351 |
50,800 |
| 25% |
50,801 |
131,200 |
| 28% |
131,201 |
212,500 |
| 33% |
212,501 |
416,700 |
| 35% |
416,701 |
444,500 |
| 39.6% |
444,501 |
|
|
Married Filing Jointly *
| Rate |
From |
To |
| 10% |
0 |
18,650 |
| 15% |
18,651 |
75,900 |
| 25% |
75,901 |
153,100 |
| 28% |
153,101 |
233,350 |
| 33% |
233,351 |
416,700 |
| 35% |
416,701 |
470,700 |
| 39.6% |
470,701 |
|
|
Married Filing Separately
| Rate |
From |
To |
| 10% |
0 |
9,325 |
| 15% |
9,325 |
37,950 |
| 25% |
37,951 |
76,550 |
| 28% |
76,551 |
116,675 |
| 33% |
116,676 |
208,350 |
| 35% |
208,351 |
235,350 |
| 39.6% |
235,351 |
|
|
* Including Qualifying Widow(er)
Standard Deduction
| Filing Status |
Amount |
| Single |
$6,350 |
| Head of Household |
$9,350 |
| Married Filing Joint/Qualifying Widow(er) |
$12,700 |
| Married Filing Separately |
$6,350 |
| |
|
| Additional Standard Deduction if Blind or
Age 65+ |
|
| Single |
$1,550 |
| Head of Household |
$1,550 |
| Married Filing Joint/Qualifying Widow(er) |
$1,250 |
| Married Filing Separately |
$1,250 |
| |
|
| Standard Deduction for Dependents |
|
| Regular amount |
$1,050 |
| Maximum amount is earned income plus $350 up to
allowed standard deduction based on filing status |
|
Personal Exemptions
For 2017, the personal exemption is $4,050. Note: If someone else can claim you as a dependent,
then you cannot claim your own personal exemption.
Phaseout of Personal Exemptions for 2017
| Filing Status |
Phaseout Begins |
Phaseout Ends |
| Married Filing Jointly |
313,800 |
436,300 |
| Qualifying Widow(er) |
313,800 |
436,300 |
| Head of Household |
287,650 |
410,150 |
| Single |
261,500 |
384,000 |
| Married Filing Separately |
156,900 |
218,150 |
Capital Gains - Long Term and Short Term
| Type of Asset |
Short-Term Tax Rate |
Long-Term Tax Rate |
Unearned Medicare Contribution Surtax |
| Collectibles |
Ordinary Tax
Rates |
28% |
Potential 3.8% |
| Depreciation
Recapture |
Ordinary Tax
Rates |
25% |
Potential 3.8% |
| Qualified Small
Bus Stock |
Ordinary Tax
Rates |
28% after
exclusion |
Potential 3.8% |
| Other Capital
Assets |
Ordinary Tax
Rates |
0%, 15%, or 20% |
Potential 3.8% |
| |
10% |
0% |
|
| |
15% |
0% |
|
| |
25% |
15% |
|
| |
28% |
15% |
|
| |
33% |
15% |
Potential 3.8% |
| |
35% |
15% |
Potential 3.8% |
| |
39.6% |
20% |
Potential 3.8% |
If you need tax assistance for your 1040 individual income tax return or your corporate 1120,
S-Corp 1120S, or partnership 1065 tax returns, give Jeff Jackson CPA a call at
(678) 919-1250 to schedule an appointment. You can also submit your information via the
Contact Us form and someone will call you shortly.
Jeffrey L. Jackson, CPA LLC
