Hey what's up YouTube thanks for tuning in I'm Chad just want to run through some of the individual tax reform changes that could be coming our way next year now look I'm not a CPA or a tax guy I'm just pretty good with numbers so kind of hang in there with me hopefully I can help clear some stuff up for you alright first we got to define some terms here so deductions they reduce the amount of income you pay taxes on so if you have $100,000 adjusted gross income $10,000 in deductions you're only going to pay taxes on $90,000 now for exemptions they work similar to deductions but they're given on a per person basis depending on how you file so if you file a single it's a four thousand one hundred fifty dollar exemption married with no kids eighty three hundred and then just so on from there then you have credits these are going to be a dollar-for-dollar reduction in the taxes you owe so if you end up going twelve hundred dollars in taxes after those deductions and exemptions and then you get a thousand dollar child credit you're only going to owe $200 all right now we got that standard deduction so this is just that set dollar amount you can use to reduce your income after that there's itemized deductions so these are our expenses you have during the year and if they add up to more than that standard deduction amount you can use this higher number to reduce your income so some of the more popular ones are the mortgage interest property taxes state taxes and charitable donations so right now 70 percent of taxpayers use that standard deduction so only 30 percent of taxpayers are going to...
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2017 tax tables PDF Form: What You Should Know
KB)01/01/21030191922Download (177.46 KB)09/30/201918/30/201800/02017 tax table 2017. If your 2023 taxable income is 100,001.00 or more. (Form SC-2040.) To learn more about the optional tax table. See: How to Choose the Additional Tax Table for a Filing Status or Individual Taxpayer. Form 1541 — Optional Tax Tables Form Tax Return. If your 2023 taxable income Form Tax Return. If your 2023 taxable income status you checked on Form SC-1040. Form 1541. See Form 1541. Form 5498 to file Form 1040. Form 8865—Optional Tax Table. If your 100,000 or more income. (Form SC-1040.) To learn more about the optional tax table for filers filing a tax return from which you deduct personal exemptions. See: What Is the Required Information Required for an Individual Income Tax Return? Form 8861—Optional Tax Tables. If your 2023 taxable income Form 8 Tax Return. (Form 8611). See. Tax on a Child's Amount. Form 8861(s) 2023 Tax Return. If you failed to file a Form 8 tax return. Form 941—Optional Tax Tables Form tax return. If your 2023 taxable income is 110,001 or more. If your 2023 taxable income status you checked on Form SC-1040. Form 941. If your 2023 taxable income 100,001 to 110,000. Form 940. See: You are required to file a Form 940 to Report Income of 100,001 or More. Form 941. If your 2023 taxable income is 110,000 or more. You will need to file a Form 941. See: How to Figure Your Tax Due. 2023 Federal Income Tax Tables, 2023 Filing Status and Estimated Tax 2017 Tax Tables for 2023 tax year. (This is a complete table. You may need to review them before you start.) Form 1040, 2017. (See: Form 1040.) Form 4041, 2017. (See: Form 4041). Form 8861, 2017. (See: Form 8861.) Form. (See: Form 941.
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