2017 Free Money! Tax Tables


If you liked my Free Money! tax posts, then you might like these 2017 Free Money tax tables.  Be aware 1.) that income beyond your “Free Money + 10%” amount will be taxed at the 15% rate and 2.) that these numbers are subject to change as soon as new tax laws are enacted.

Here are your 2017 Free Money! amounts for those filing:  Single, Married Filing Separate (MFS), and Married:

2017 Free Money for:
Single
MFS
Married
Single and MFS Amounts Are the Same.
Standard Deduction
$6,350
$6,350
$12,700
Exemptions
$4,050
$4,050
$8,100
Credits
$0
$0
$0
Total Free Money
$10,400
$10,400
$20,800
Remaining 10% Bracket
$9,325
$9,325
$18,650
Free Money + 10%
$19,725
$19,725
$39,450
Tax Owed
$933
$933
$1,865
Effective Tax Rate
4.73%
4.73%
4.73%

How We Saved $500,000 in 4.5 Years

If your filing status is Married with children, look here:

Married + Children:
+ 1
+ 2
+ 3
+ 4
+ 5
Only Married + 1 Child Owes Any Federal Income Tax!
Standard Deduction
$12,700
$12,700
$12,700
$12,700
$12,700
Exemptions
$12,150
$16,200
$20,250
$24,300
$28,350
Credits
$10,000
$19,550
$26,217
$32,883
$39,550
Total Free Money
$34,850
$48,450
$59,167
$69,883
$80,600
Remaining 10% Bracket
$8,650
$0
$0
$0
$0
Free Money + 10%
$43,500
$48,450
$59,167
$69,883
$80,600
Tax Owed
$865
$0
$0
$0
$0
Effective Tax Rate
1.99%
0%
0%
0%
0%

A $7,500 College Degree in 12 Months?



If you file as the Head of Household (HH) with children, see below:

HH + Children:
+ 1
+ 2
+ 3
+ 4
+ 5
Only HH+ 1 Child Owes Any Federal Income Tax!
Standard Deduction
$9,350
$9,350
$9,350
$9,350
$9,350
Exemptions
$8,100
$12,150
$16,200
$20,250
$24,300
Credits
$10,000
$17,783
$24,450
$31,117
$37,783
Total Free Money
$27,450
$39,283
$50,000
$60,717
$71,443
Remaining 10% Bracket
$3,350
$0
$0
$0
$0
Free Money + 10%
$30,800
$39,283
$50,000
$60,717
$71,443
Tax Owed
$335
$0
$0
$0
$0
Effective Tax Rate
1.09%
0%
0%
0%
0%

My Trillionaire Plan

Finally, if you file Married Filing Separate (MFS) with children, this section is for you:

MFS + Children:
+ 1
+ 2
+ 3
+ 4
+ 5
MFS Filers Do Not Owe Any Federal Income Tax!
Standard Deduction
$6,350
$6,350
$6,350
$6,350
$6,350
Exemptions
$8,100
$12,150
$16,200
$20,250
$24,300
Credits
$9,772
$16,438
$23,105
$39,772
$36,438
Total Free Money
$24,222
$34,938
$45,655
$56,372
$67,088
10% Bracket
$0
$0
$0
$0
$0
Free Money + 10%
$24,222
$34,938
$45,655
$56,372
$67,088
Tax Owed
$0
$0
$0
$0
$0
Effective Tax Rate
0%
0%
0%
0%
0%

How I Escaped My 403b by Quitting My Job

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