Tax changes in 2017 you need to know


Things to keep in mind for 2017
SOCIAL SECURITY

  • The social security wage base is going up to $127,200
  • Social Security Recipients will get a 0.3% increase in benefits.
  • IF you are 66 in 2017 you can earn up to $44,880 before you start to lose benefits.
  • IF you are 62-65 your maximum earnings is $16,920.

STANDARD DEDUCTION
Standard deduction will rise to:

  • $12,700 Married Filing Joint
  • $6,350 Single, and Married Filing Separate
  • $9,350 for Head of Household.

PERSONAL EXEMPTION

  • Personal Exemption will be $4,050

Plan early for better returns with Tammy Hastings Bookkeeping and Tax Service.

Tammy Hastings Bookkeeping and Tax Service
55 South 5th Street, Ste. N
Central Point, OR 97502

​(541) 601-8192
​www.TammyHastings.com