Robert Loe CPA

Tax Rates

  2017 Tax Rates

  2016 Tax Rates

  2015 Tax Rates

   2014 Tax Rates

2017 Tax Rates – 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 – Married Filing Jointly or Qualifying Widow(er)

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 – 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 – 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 $117,202.5 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 $500,000
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
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