Welcome, 2017! As the New Year
rolls around, it's always a sure bet that there will be changes to current tax
law and 2017 is no different. From health savings accounts to tax rate
schedules and standard deductions.
Individuals
Tax Changes for 2017
For 2017, more than 50 tax
provisions are affected by inflation adjustments, including personal
exemptions, AMT exemption amounts, and foreign earned income exclusion.
While the tax rate structure, which ranges from 10 to 39.6 percent,
remains the same as in 2016, tax-bracket thresholds increase for each filing
status. Standard deductions and the personal exemption have also been adjusted
upward to reflect inflation.
We
are licensed in All States. We are affordable, experienced, and friendly. We
are an Authorized IRS e-file Service Provider. If you would like to schedule a
Free Initial Consultation to learn more about the tax preparation and tax
planning & compliance services we offer to businesses and individuals, send
us an e-mail or call Amare Berhie today at 651-300-4777 to schedule a
convenient time.
Amare Berhie, Senior Accountant
CEO, ABA Tax Accounting
651-300-4777
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