|
|
|
What's a debt ceiling?
The government borrows money when spending exceeds receipts. The borrowing is done through the issue of securities by the Treasury and other federal government agencies.
...more
|
|
|
|
|
|
|
|
Costs up 9%
Employers' spending on health coverage for workers spiked abruptly this year
...more
|
|
|
|
|
|
|
|
Employment Taxes Rising
State and federal taxes are rising for employers across the U.S.
...more
|
|
|
|
|
|
|
|
|
|
Single Taxable Income Brackets and Rates, 2017 |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $9,325 |
10% of Taxable Income |
15% |
$9,325 to $37,950 |
$932.50 plus 15% of the excess over $9325 |
25% |
$37,950 to $91,900 |
$5,226.25 plus 25% of the excess over $37,950 |
28% |
$91,900 to $191,650 |
$18,713.75 plus 28% of the excess over $91,900 |
33% |
$191,650 to $416,700 |
$46,643.75 plus 33% of the excess over $191,650 |
35% |
$416,700 to $418,400 |
$120,910.25 plus 35% of the excess over $416,700 |
39.60% |
$418,400+ |
$121,505.25 plus 39.6% of the excess over $418,400 |
Married Filing Joint Taxable Income Brackets and Rates, 2017 |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $18,650 |
10% of taxable income |
15% |
$18,650 to $75,900 |
$1,865 plus 15% of the excess over $18,650 |
25% |
$75,900 to $153,100 |
$10,452.50 plus 25% of the excess over $75,900 |
28% |
$153,100 to $233,350 |
$29,752.50 plus 28% of the excess over $153,100 |
33% |
$233,350 to $416,700 |
$52,222.50 plus 33% of the excess over $233,350 |
35% |
$416,700 to $470,700 |
$112,728 plus 35% of the excess over $416,700 |
39.60% |
$470,700+ |
$131,628 plus 39.6% of the excess over $470,700 |
Head of Household Taxable Income Brackets and Rates, 2017 |
Rate |
Taxable Income Bracket |
Tax Owed |
10% |
$0 to $13,350 |
10% of taxable income |
15% |
$13,350 to $50,800 |
$1,335 plus 15% of the excess over $13,350 |
25% |
$50,800 to $131,200 |
$6,952.50 plus 25% of the excess over $50,800 |
28% |
$131,200 to $212,500 |
$27,052.50 plus 28% of the excess over $131,200 |
33% |
$212,500 to $416,700 |
$49,816.50 plus 33% of the excess over $212,500 |
35% |
$416,700 to $444,500 |
$117,202.50 plus 35% of the excess over $416,701 |
39.60% |
$444,500+ |
$126,950 plus 39.6% of the excess over $444,550 |
| Source: IRS. |
- Social Security Tax at a rate of 12.4% on wages and self-employment income up to the annual Social Security wage base of $127,200 (versus 118,500 in 2016 - Ouch).
- Medicare Tax at a rate of 2.9% on wages and self-employment income.
- Additional Medicare Tax at a rate of 0.9% on wages and self-employment income over the following thresholds:
•Married Filing Jointly: $250,000
•Single or Head of Household or Qualifying Widow(er): $200,000
•Married Filing Separately: $125,000
- The 2017 AMT exemption amounts include (a 26% minimum tax):
-
For individuals with a status of married filing jointly, or are a qualifying widow or widower, the exemption amount is $84,500.
-
For individuals with a status of unmarried individual (other than surviving spouse), the exemption amount is $54,300.
-
For individuals with a status of married filing separately, the exemption amount is $42,250.
-
The exemption for estates and trusts is now $24,100.
- Net investment income tax at a rate of 3.8% on the lower of net investment income or modified adjusted gross income over the following thresholds:
•Married Filing Jointly or Qualifying Widow(er): $250,000
•Single or Head of Household: $200,000
•Married Filing Separately: $125,000
- Capital Gains tax rates vary depending on whether the gains are short-term or long-term.
Short-term gains taxed at ordinary income tax rates.
Long-term gains and qualified dividends taxed at
• 0% if taxable income falls in the 10% or 15% marginal tax brackets
• 15% if taxable income falls in the 25%, 28%, 33%, or 35% marginal tax brackets
• 20% if taxable income falls in the 39.6% marginal tax bracket
• 25% on Depreciation Recapture
• 28% on Collectibles
• 28% on qualified small business stock after exclusion
|
|
|
|
|
|
|
|
