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Current Rates and Limits

TY 2017 Retirement Plan Contribution Limits

PlanContribution LimitsCatch-up Contribution (if 50 or older)
Traditional IRA$5,500$1,000
Roth IRA$5,500$1,000
SIMPLE$12,500$3,000
401(k), 403(b), and 457 plans$18,00$6,000

TY 2017 Social Security & Medicare Tax

Maximum Compensation subject to FICA 
Social Security$127,200
Medicare TaxNo Limit
Medicare Additional Taxover $200,000

TY 2017 Income Tax Brackets

SingleMarried Filing JointlyMarried Filing SeparatelyHead of HouseholdMarginal Tax Rate
$0 to $9,325$0 to $18,650$0 – $9,325$0 to $13,35010.0%
$9,326 to $37,950$18,651 to $75,900$9,326 – $37,950$13,351 to $50,80015.0%
$37,951 to $91,900$75,901 to $153,100$37,951 - $76,550$50,801 to $131,20025.0%
$91,901 to $191,650$153,101 to $233,350$76,551 – $116,675$131,201 to $212,50028.0%
$191,651 to $416,700$233,351 to $416,700$116,676 - $208,350$212,501 to $416,70033.0%
$416,701 to $418,400$416,701 to $470,700$208,351 - $235,350$416,701 to $444,55035.0%
$418,401 or more$470,701 or more$235,351 or more$444,551 or more39.6%

TY 2017 Deductions & Exemptions

 SingleMarried Filing JointlyMarried Filing Separately
Standard Deduction$6,350$12,700$6,350
Additional Deduction for 65 and Older or Blind$1,550$1,250$1,250
Personal Exemption$4,050$4,050$4,050

TY 2017 Mileage Rates

Purposecents per mile
Business53.5 ¢
Medical17 ¢
Charitable14 ¢
Moving17 ¢

TY Capital Gains and Qualified Dividends

 Short TermLong TermQualified Dividends
10% - 15% bracketsordinary rate0%0%
25% - 35% bracketsordinary rate15%15%
39.6% bracketordinary rate20%20%

Last updated 12/01/17

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