2017 PERSONAL INCOME TAX RATES

Rate

Joint

Single

10%

$0 - $18,650

$0 - $9,325

15%

$18,650- $75,900

$9,325 - $37,950

25%

$75,900 - $153,100

$37,950 - $91,900

28%

$153,100- $233,350

$91,900 - $191,650

33%

$231,450 - $416,700

$191,650 - $416,700

35%

$416,700 - $470,700

$416,7000 - $418,400

39.6%

Over $470,700

Over $418,400

2017 Personal Exemption:  $4,050
Standard Deductions:  $12,700 Joint   $6,350 Single

God’s hand of protection on the U.S. Tax Code and its charitable deductions has been gracious. Proposed changes could have raised taxes even higher and limited deductions significantly. Instead, relatively minor changes were enacted. The new rules raise taxes for high income earners but leave in place provisions for minimizing taxes. Each person’s situation is unique and should be addressed individually. Our team of professionals at The Cru Foundation also known as The Great Commission Foundation of Campus Crusade for Christ, Inc. is available to advise you on how these increases and other tax, gift and estate changes will affect you. In many cases, taxes can be reduced and even zeroed out by proper planning. Plus, you can receive this counsel without obligation; it’s a complimentary service of the ministry. You can contact us and The Cru Foundation team today by calling toll free (800) 449-5454 or email: [email protected]. When you call or email mention code NY0JWP
 

GIFT AND ESTATE TAXES

Good news on several transfer tax-fronts: exemptions are unchanged and rates are down. Plus, you may make up to $5,490,000 of taxable transfers during your lifetime, or at your death, without any gift or estate tax.

In addition, the top estate/transfer tax rate in 2017 is 40%. The “annual exclusion” from the gift tax stays at $14,000 per recipient. This allows each person to give an unlimited number of $14,000 gifts each year during his or her lifetime without incurring a gift tax. There is no limit for charitable deductions.

ESTATE TAX RATES

Tax Year
Taxable Estate
Marginal Rate on Excess

2012

$5,120,000

.35

2013

$5,250,000

.40

2014

$5,340,000

.40

2015

$5,430,000

.40

2016

$5,450,000

.40

2017

$5,490,000

.40