Changes for Tax Year 2017
GOOD NEWS Some Standard Deductions Increased
Single Taxpayers $6,350.00 Head Head of Household (single taxpayer with at least of child) $9,350.00 Married Taxpayers $12,700.00
Personal Exemptions Remain at $4,050.00 ( Exemptions start phasing out at income of $261,500.00 for single, $287,650.00 for HOH, $313,800.00 for Married Filing Joint)
Itemized Deductions are unchanged (except the income level limitations have changed)
Valley Tax Service hopes the above tax update is helpful to you and your family. Valley Tax Service spends a lot of time doing community service with Grain Valley Assistance Council that helps seniors and young families with food and other of life's necessities. Valley Tax Service is also a supporter Pathways of Honor a local veterans group raising funds to build a veterans tribute.