2017 - TAX FACTS

2018 Social Security: 

Maximum Taxable Wages                                    $128,400



Maximum Taxable Salary:                                    Unlimited


Medicare Tax Rate:                                              1.45%


Do I need to file this year?  (Click here for the filing requirements)




Want some help with determining the proper number of exemptions to claim on your W-4 for wage withholding? 

(click the link for the IRS’s withholding calculator or call our office for assistance)




Prior-year Safe Habor for estimated taxes           110% of prior year tax

of higher-income:                                              


Standard mileage rate for business driving           54.5 cents / mile



Unearned income maximum for children              $2,100

before kiddie tax applies


Maximum capital gains tax rate for taxpayers       0% 

in the 10% - 15% bracket


Maximum capital gains tax rate for taxpayers       15-20% 

above the 15% bracket                                     (high income taxpayers)


Capital gains tax rate on collectiblees                  28%


2018 Traditional / Roth IRA Contribution limit       $5,500 or

                                                                       $6,500 (age 49+)


Maximum employee contribution to                    SIMPLE IRA 2018 $12,500 ($15,500 age 50 or older)


                                                                       25% of compensation

Maximum employee contribution to SEP IRA        up to $54,000


401(k) Maximum employee contribtuion limit       $18,000 under 50

                                                                        $24,000 above 50 


Self-employed health insurance deduction           100%


Federal Estate Tax                                            40% on Estate's excess

                                                                      value of $11.2 million ($22.4M married)


Annual Exclusion for Gifts                                 $15,000 per receipient

                                                                      (per year - effective 1-1-2018)


IRC Section 121 Capital Gains exclusion on        up to $500,000 for

of primary residence if house was lived in 24       for married couples

of the 60 months preceding sale date                    ($250,000 single)






     Contact Us Today

Primary office for Valentine Seevers & Associates Certified Public Accountants

3781 Evergreen Parkway

Evergreen, Colorado  80439

Phone: 303-674-5561

E-mail: info@vsaacpa.com

Satellite office for Valentine Seevers & Associates Certified Public Accountants 


13976 W Bowles Avenue

Suite #200

Littleton, Colorado  80127

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