Key 2017 Exemptions and Deductions

Personal Exemptions –
The personal exemption for each qualifying dependent is increased to $4050.

Standard Deductions -
The new standard deductions for those who do not itemize are as follows:

Married Filing Jointly - $12,700
Single - $6,350
Head of Household - $9,350
Married Filing Separately - $6,350

If 65 or over and/or blind add:
Head of Household - $1,550
Surviving Spouse - $1,250

Standard Mileage Rates -
The standard mileage rates for 2017 are:


Business Travel  - $0.535                       
Charitable Work - $0.14                       
Medical/Moving  - $0.17               

If you have any questions about the tax changed for 2018 please call the office. (623) 580-1957.      

2017 Tax Rates

The Income Tax Brackets for each tax rate are:

Single                                Married Jointly                           Head of Household                       Tax Rate
$1-9325                                 $1-18650                               $1-13350                                     10%
9326-37950                      18651-75900                               13351-50800                               15%
37951-91900                    75901-153100                               50801-131200                           25%
91901-191650                   153101-233350                           130201-212500                           28%
191651-416700                 233351-416700                              212501-416700                       33%
416701-418400                 416701-470700                              416701-444550                       35%
Over 418400                     Over 470700                                   Over 444550                         39.6%

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Federal law requires that once a year I inform you of our Privacy Policy. While you have probably recieved similar notices from banks, brokers, credit card companies, etc. I am going to explain our policy in very simple, easy to understand English.
As you know, we collect certain personal information about you in order to prepaire your tax returns. The information is either provided by you or obtained by our office with your permission. I want you to know that we do not disclose any nonpublic information about you to anyone, except as permitted by law or with your permission. Access to your file is restricted to those employees of our firm who need to know that information in order to provide services to you. We are trained and required to safeguard your information. We maintain strict physical electronic, and procedural safeguards to protect your personal information. As required by law we will notify you annually regarding our Privacy Policy. Again, I want you to know just how much I appreciate the opportunity to work with you and on your behalf.

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