Federal Tax Calculator Usa 2017
'/%3E%3Ccircle cx='48' cy='39' r='19' fill='%23f2c9a5'/%3E%3Cpath d='M27 35c3-16 39-17 42 2-8-8-27-9-42-2z' fill='%23374151'/%3E%3Cpath d='M21 86c5-24 49-28 56 0z' fill='%232563eb'/%3E%3Ccircle cx='41' cy='41' r='2' fill='%23111827'/%3E%3Ccircle cx='55' cy='41' r='2' fill='%23111827'/%3E%3Cpath d='M42 52c4 3 9 3 13 0' stroke='%2392400e' stroke-width='3' fill='none' stroke-linecap='round'/%3E%3C/svg%3E)
Reviewed by Calculator Editorial Team
Use this federal tax calculator to estimate your 2017 federal income tax liability based on your taxable income, filing status, and deductions. The calculator uses the 2017 tax brackets and rates published by the IRS.
How the Federal Tax Calculator Works
The federal tax calculator computes your estimated federal income tax using the following steps:
- Calculate your taxable income by subtracting your deductions from your total income.
- Apply the 2017 federal tax brackets and rates to your taxable income.
- Compute the federal income tax owed based on the progressive tax system.
Formula Used
Federal Income Tax = (Taxable Income × Tax Rate) - (Standard Deduction + Itemized Deductions)
The calculator uses the official 2017 tax brackets and rates published by the IRS. For married filing jointly, the tax brackets are higher than for single filers.
Choosing Your Filing Status
Your filing status determines which tax brackets and rates apply to your income. The common filing statuses are:
- Single - For individuals who were not married or lived with a spouse at any time during the year.
- Married Filing Jointly - For married couples who file a joint return.
- Married Filing Separately - For married couples who choose to file separate returns.
- Head of Household - For individuals who qualify as the head of household.
Note: The calculator does not account for state taxes, local taxes, or other deductions beyond standard and itemized deductions.
2017 Federal Tax Brackets
The 2017 federal tax brackets for different filing statuses are as follows:
| Filing Status | 10% Bracket | 15% Bracket | 25% Bracket | 28% Bracket | 33% Bracket | 35% Bracket | 39.6% Bracket |
|---|---|---|---|---|---|---|---|
| Single | $0 - $9,325 | $9,326 - $37,950 | $37,951 - $91,900 | $91,901 - $191,650 | $191,651 - $416,700 | $416,701 - $418,400 | $418,401+ |
| Married Filing Jointly | $0 - $18,650 | $18,651 - $75,900 | $75,901 - $153,100 | $153,101 - $233,350 | $233,351 - $416,700 | $416,701 - $470,700 | $470,701+ |
The tax brackets are progressive, meaning higher income levels are taxed at higher rates.
Standard Deduction Amounts
The standard deduction amounts for 2017 were:
- Single - $6,350
- Married Filing Jointly - $12,700
- Married Filing Separately - $6,350
- Head of Household - $9,350
If you itemize deductions instead of taking the standard deduction, your taxable income will be higher, potentially putting you in a higher tax bracket.
Example Calculation
Let's calculate the federal income tax for a single filer with $50,000 in taxable income:
- Taxable Income = $50,000
- Apply the 2017 tax brackets:
- $0 - $9,325 at 10% = $932.50
- $9,326 - $37,950 at 15% = $4,398.75
- $37,951 - $50,000 at 25% = $3,062.50
- Total Federal Income Tax = $932.50 + $4,398.75 + $3,062.50 = $8,393.75
This example shows how progressive taxation works - higher income levels are taxed at higher rates.
Frequently Asked Questions
Gross income is all income you receive before any deductions. Taxable income is gross income minus allowable deductions, such as the standard deduction or itemized deductions.
Itemizing deductions can be beneficial if your total itemized deductions exceed the standard deduction. Common itemized deductions include mortgage interest, state and local taxes, and charitable contributions.
Yes, there are state income taxes, Social Security taxes, Medicare taxes, and possibly local taxes depending on your location.