What is tax rate for 2017?
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Amelia Rodriguez
Studied at University of California, Los Angeles (UCLA), Lives in Los Angeles, CA
As a domain expert in tax law and financial planning, I have a comprehensive understanding of the intricacies of tax systems. When discussing tax rates, it is crucial to understand that they can vary significantly depending on the jurisdiction and the specific year in question. For the United States, the Internal Revenue Service (IRS) sets the tax rates and brackets for income tax, which can change from year to year due to legislation and economic conditions.
For the year 2017, the IRS Income Tax Rates and Brackets were structured in a progressive manner, meaning that as an individual's income increases, the percentage of tax they pay on each additional dollar of income also increases. This system is designed to distribute the tax burden more equitably across different income levels.
The tax brackets for 2017 were as follows:
1. 10% on income up to $9,325 for single filers and up to $18,650 for married couples filing jointly.
2. 15% on income between $9,326 and $37,950 for single filers, and between $18,651 and $75,300 for married couples filing jointly.
3. 25% on income between $37,951 and $91,900 for single filers, and between $75,301 and $153,100 for married couples filing jointly.
4. 28% on income between $91,901 and $191,650 for single filers, and between $153,101 and $233,350 for married couples filing jointly.
5. 33% on income between $191,651 and $416,700 for single filers, and between $233,351 and $470,700 for married couples filing jointly.
6. 35% on income between $416,701 and $418,400 for single filers, and between $470,701 and $470,700 for married couples filing jointly.
7.
39.6% on income over $418,400 for single filers and over $470,700 for married couples filing jointly.
It is important to note that these brackets are based on taxable income, which is calculated after deductions and exemptions have been applied. Additionally, the standard deduction and personal exemption amounts for 2017 were different for various filing statuses and could significantly affect an individual's taxable income and, consequently, their tax liability.
Tax planning and compliance require a nuanced understanding of the tax code, and it is always advisable to consult with a tax professional or use reputable tax software to ensure accuracy and compliance with the law.
Now, let's proceed with the translation into Chinese.
For the year 2017, the IRS Income Tax Rates and Brackets were structured in a progressive manner, meaning that as an individual's income increases, the percentage of tax they pay on each additional dollar of income also increases. This system is designed to distribute the tax burden more equitably across different income levels.
The tax brackets for 2017 were as follows:
1. 10% on income up to $9,325 for single filers and up to $18,650 for married couples filing jointly.
2. 15% on income between $9,326 and $37,950 for single filers, and between $18,651 and $75,300 for married couples filing jointly.
3. 25% on income between $37,951 and $91,900 for single filers, and between $75,301 and $153,100 for married couples filing jointly.
4. 28% on income between $91,901 and $191,650 for single filers, and between $153,101 and $233,350 for married couples filing jointly.
5. 33% on income between $191,651 and $416,700 for single filers, and between $233,351 and $470,700 for married couples filing jointly.
6. 35% on income between $416,701 and $418,400 for single filers, and between $470,701 and $470,700 for married couples filing jointly.
7.
39.6% on income over $418,400 for single filers and over $470,700 for married couples filing jointly.
It is important to note that these brackets are based on taxable income, which is calculated after deductions and exemptions have been applied. Additionally, the standard deduction and personal exemption amounts for 2017 were different for various filing statuses and could significantly affect an individual's taxable income and, consequently, their tax liability.
Tax planning and compliance require a nuanced understanding of the tax code, and it is always advisable to consult with a tax professional or use reputable tax software to ensure accuracy and compliance with the law.
Now, let's proceed with the translation into Chinese.
Works at Facebook, Lives in Menlo Park. Graduated from Stanford University with a degree in Computer Science.
IRS Income Tax Rates and Brackets for 2017Tax Rate 2017 Taxable Income 2016 Taxable Income 10%$0 - $18,650$0 -C $18,55015%$18,651 -C $75,900$18,551 -C $75,30025%$75,901 -C $153,100$75,301 -C $151,90028%$153,101 -C $233,350$151,901 -C $231,4503 more rows
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Isabella Kim
QuesHub.com delivers expert answers and knowledge to you.
IRS Income Tax Rates and Brackets for 2017Tax Rate 2017 Taxable Income 2016 Taxable Income 10%$0 - $18,650$0 -C $18,55015%$18,651 -C $75,900$18,551 -C $75,30025%$75,901 -C $153,100$75,301 -C $151,90028%$153,101 -C $233,350$151,901 -C $231,4503 more rows
