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 number 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%

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%



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%

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%
Useful Resources: Companies and Services that We Actually Use.
Affiliate Link Disclaimer, Privacy Policy, and Terms of Use
Investing:  The majority (90%+) of our money is invested at Vanguard.   If you know of a better low-cost option, please let me know.  Why Vanguard?
Net Worth Tracking:  We use Personal Capital to track our various accounts.  Personal Capital is an great way to aggregate all of your financial accounts at one easy-to-use website.
Banking:  We have used USAA for our checking and savings accounts since 1997.  We also have checking and savings accounts at three credit unions:   AlliantElements Financial, and Navy Federal.  Finally, we have an online checking account with Simple.
Health Savings Account:  We use Elements Financial to access commission-free, low-cost Vanguard ETFs at TD Ameritrade.
Phone Options:  My wife loves her $10 a month plan at Republic Wireless.  I had the same plan and liked it too, but unfortunately I broke my phone in Mexico.  I currently use a WiFi-enabled phone at a cost of $0 a month thanks to three Google apps: Voice, Hangouts, and Hangout Dialer.  We also have a Skype subscription with its own number for unlimited U.S. calls ($80 a year).
Travel Hacking:  If you'd like to learn how to get "free" flights and hotel rooms, take the free course at Travel Miles 101.  When we slow travel, we use Airbnb to find low-cost, month-long rentals.  Whenever possible, we try to use Uber instead of taxis.
Click here for my recommended:   Blogs, Books, and Podcasts