Helpful information:
Tax Rate for 2017
Tax Rates Single Married Jointly
Ordinary Capital Income range Income range
Income Gains
10% 0% $0 to $9,325 $0 to $18,650
15% 0% $9,325 to $37,950 $18,650 to $75,900
25% 15% $37,950 to $91,900 $75,900 to $153,100
28% 15% $91,900 to $191,650 $153,100 to $233,350
33% 15% $191,650 to $416,700 $233,350 to $416,700
35% 15% $416,700 to $418,400 $416,700 to $470,000
39.6% 20% $418,400 to $ $470,000 to $
2017 Pension and IRA limits
Under 50 Over 50
IRA contribution $5,500 $6,500
SIMPLE contribution $12,500 $15,500
401K/403B deferrals $18,000 $24,000
Maximum benefit defined contribution plan..$54,000
Maximum benefit defined benefit plan........$210,000
Maximum compensation base...................$270,000
Highly compensated employee wage.........$120,000
Social security taxable wage base..............$127,200
Health Savings accounts contribution limits
Individual $3,400
Family $6,750
Age 55 and older increase $1,000
Links to Important Forms
Standard Rates
STANDARD MILEAGE RATES
Business...............54 cents/mile
Medical or moving....19 cents/mile
Charitable...............14 cents/mile
BUSINESS TRAVEL PER DIEM RATES
Lodging Meals Total
Low cost area $132 $57 $189
High cost area $214 $68 $282
Alaska rates vary by locale but tend to be higher for meals
CHILD CARE PROVIDER MEAL RATES ALASKA
Breakfast $2.09
Lunch or dinner $3.99
Snack $1.19
Free Consultation for New Bookkeeping and Payroll Clients.
Section 179 and bonus depreciation for 2017
Maximum deduction limit $500,000
Spending cap $2 million
Bonus depreciation permitted 50%
There is a dollar for dollar reduction in the 179 deduction for asset purchases in excess of $2 million
