Income Tax Calculator in Usa 2017
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Reviewed by Calculator Editorial Team
Use this income tax calculator to estimate your 2017 federal income tax liability in the United States. The calculator uses the 2017 tax brackets and rates to provide an estimate of your taxable income and tax owed.
How the 2017 US Income Tax Calculator Works
The 2017 US income tax calculator estimates your federal income tax based on your total income and filing status. The calculation follows these steps:
- Subtract your standard deduction from your total income to get your taxable income.
- Apply the 2017 federal income tax brackets to your taxable income to calculate your tax liability.
- Display the estimated tax amount and a breakdown of how much tax is owed at each bracket.
Formula: Taxable Income = Total Income - Standard Deduction
Tax Owed = Sum of (Taxable Income × Tax Rate for each bracket)
The calculator uses the 2017 federal income tax rates and brackets, which were in effect for tax year 2017. These rates and brackets may differ from those in other years.
2017 Federal Income Tax Brackets
The 2017 federal income tax brackets are as follows for single filers:
| Taxable Income Range | Tax Rate |
|---|---|
| $0 - $9,325 | 10% |
| $9,326 - $37,950 | 15% |
| $37,951 - $91,900 | 25% |
| $91,901 - $191,650 | 28% |
| $191,651 - $416,700 | 33% |
| $416,701 - $418,400 | 35% |
| $418,401+ | 39.6% |
For married filing jointly, the brackets are higher, and for other filing statuses, the brackets vary accordingly. The standard deduction amounts also differ by filing status.
2017 Standard Deduction Amounts
The 2017 standard deduction amounts are as follows:
- Single: $6,350
- Married Filing Jointly: $12,700
- Married Filing Separately: $6,350
- Head of Household: $9,350
These amounts are used to calculate your taxable income by subtracting them from your total income.
Example Calculation
Let's calculate the estimated federal income tax for a single filer with a total income of $50,000 in 2017.
- Subtract the standard deduction: $50,000 - $6,350 = $43,650 taxable income.
- Apply the tax brackets:
- $9,325 × 10% = $932.50
- ($37,950 - $9,325) × 15% = $4,261.75
- ($43,650 - $37,950) × 25% = $1,442.50
- Total tax owed: $932.50 + $4,261.75 + $1,442.50 = $6,636.75
This example shows that a single filer with $50,000 in income would owe approximately $6,636.75 in federal income tax for 2017.
Frequently Asked Questions
What is the difference between taxable income and total income?
Taxable income is your total income minus any deductions you can claim. The standard deduction is one type of deduction that reduces your taxable income.
How do I know which filing status to use?
Your filing status depends on your marital status and whether you have dependents. Common filing statuses include single, married filing jointly, married filing separately, and head of household.
Is this calculator accurate for my specific situation?
This calculator provides an estimate based on the standard deduction and federal tax brackets. For an exact calculation, you should consult a tax professional or use official IRS forms.