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Plan your 2017 finances with this tax guide for filing rates, deductions, exemptions, retirement limits, HSAs, payroll tax, estates, and more.

Tax strategies

Your Personal and Business Tax Rates for 2017

  • 12/8/2016

The IRS announced the 2017 tax rates, which go into effect on January 1. Look up the key individual and business federal tax rates and limits for 2017 in the tables below or download our print-friendly 2017 tax guide.

Download the 2017 Tax Guide

Reference this information as you prepare for and make decisions throughout the year and compare the 2017 numbers to previous years (2016, 2015, 2014, and 2013).

Filing Rates

Filing Status
Individual Tax Rate Married Filing Jointly (MFJ) Single Married Filing Separately Head of Household
10% Up to $18,650 Up to $9,325 Up to $9,325 Up to $13,350
15% $18,651 – $75,900 $9,326 – $37,950 $9,326 – $37,950 $13,351 – $50,800
25% $75,901 – $153,100 $37,951 – $91,900 $37,951 – $76,550 $50,801 – $131,200
28% $153,101 – $233,350 $91,901 – $191,650 $76,551 – $116,675 $131,201 – $212,500
33% $233,351 – $416,700 $191,651 – $416,700 $116,676 – $208,350 $212,501 – $416,700
35% $416,701 – $470,700 $416,701 – $418,400 $208,351 – $235,350 $416,701 – $444,550
39.6% More than $470,700 More than $418,400 More than $235,350 More than $444,550
Itemized Deductions and Exemptions
Itemized deduction phase out start point —
single and married filing jointly
Single: $261,500
MFJ: $313,800
Standard deduction — single and married filing separately $6,350
Additional deduction age 65 or older — single $1,550
Standard deduction — married filing jointly $12,700
Additional deduction age 65 or older —
married filing jointly and married filing separately
$1,250
Standard deduction — head of household $9,350
Additional deduction age 65 or older — head of household $1,550
Personal exemption $4,050
Personal exemption phase out start point —
single and married filing jointly
Single: $261,500
MFJ: $313,800
Retirement Plans
Maximum annual benefit for defined benefit plan Up to $215,000
Defined contribution annual addition $54,000
Defined contribution compensation limit $270,000
401(k) maximum exclusion $18,000
401(k) catch-up contribution (for individuals 50 or older) $6,000
Simple contribution limit $12,500
Simple catch-up contribution (for individuals 50 or older) $3,000
IRA contribution limitation (in general) $5,500
IRA catch-up contribution (for individuals 50 or older) $1,000
Payroll Taxes
Social Security (self-employed) combined rate (OASDI + Medicare) (6.2% + 1.45%) x 2 =15.3%
Social Security (employee) rate (OASDI + Medicare) (6.2% + 1.45%) = 7.65%
OASDI contribution base $127,200
Medicare contribution base Unlimited
Additional Medicare payroll tax on earnings more than $200,000 (single) and $250,000 (married filing jointly) 0.9%
FUTA wage base $7,000
FUTA rate 0.6%
Social Security
Maximum earned income while receiving Social Security benefits Under age 65 years, 6 months $16,920
In the year you reach full retirement age $44,880
Full retirement age No limit
Education Phase-Outs
American Opportunity Credit (formerly Hope Credit) MFJ: $160,000 – $180,000
Other filers: $80,000 – $90,000
Lifetime Learning Credit MFJ: $112,000 – $132,000
Other filers: $56,000 – $66,000
Student loan interest deduction MFJ: $135,000 – $165,000
Single: $65,000 – $80,000
Health Savings Accounts
HSA contribution limit (single insurance coverage) $3,400
HSA contribution limit (family insurance coverage) $6,750
HSA catch-up contribution (age 55 or older) $1,000
179 Limitation, Gift and Estate Tax Exclusions, and Kiddie Tax
Section 179 limitation $510,000
Annual gift tax exclusion $14,000
Estate tax exclusion amount $5,490,000
Kiddie tax threshold — children through age 18 (or age 19 – 23 for full-time students) $2,100
Travel
High cost per diem travel rate within continental United States (high/low method) $282
Low cost per diem travel rate within continental United States (high/low method) $189

Download the 2017 Tax Guide

View the tax rates from previous years:

How we can help

As your needs evolve, contact your advisor at each step to see how these rates might apply to your business, estate, or personal situation.