2017 Tax Information

2017 Tax Changes

The tax changes for 2017 are small and there are only 5 changes that will affect you returns.

1. Standard deductions will increase.

Your standard deduction will go up a smidge in 2017. Individual filers and heads of household will receive a standard deduction of $6,350 and $9,350, respectively, in 2017, up $50 from 2016. Couples filing jointly get a $100 year-over-year lift to $12,700 in 2017. Although this change isn't liable to put a lot of extra money in your pocket, anything that can reduce your tax liability without having to lift a finger is good for you.