APPENDIX G: PROVIDED TAX TABLES

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1 APPENDIX G: PROVIDED TAX TABLES The tax tables and limits below are provided to individuals taking the March 2018 CFP Certification Examination. Exam Window Tax Rates, Tables, & Law Tested July November March INCOME TAX RATES 2017 SINGLE INDIVIDUALS $0 9,325 $0 10% $0 9,325 37, % 9,325 37,950 91,900 5, % 37,950 91, ,650 18, % 91, , ,700 46, % 191, , , , % 416, , , % 418, MARRIED INDIVIDUALS FILING JOINTLY AND SURVIVING SPOUSES $0 18,650 $0 10% $0 18,650 75,900 1, % 18,650 75, ,100 10, % 75, , ,350 29, % 153, , ,700 52, % 233, , , , % 416, , , % 470,700 1

2 2017 MARRIED INDIVIDUALS FILING SEPARATELY $0 9,325 $0 10% $0 9,325 37, % 9,325 37,950 76,550 5, % 37,950 76, ,675 14, % 76, , ,350 26, % 116, , ,350 56, % 208, , , % 235, HEADS OF HOUSEHOLDS $0 13,350 $0 10% $0 13,350 50,800 1, % 13,350 50, ,200 6, % 50, , ,500 27, % 131, , ,700 49, % 212, , , , % 416, , , % 444, NET INVESTMENT INCOME TAX The net investment income tax is applied at a rate of 3.8%. Individuals Applied to the lesser of: the net investment income, or the excess of modified adjusted gross income over the following threshold amounts: $250,000 for married filing jointly or qualifying widow(er) with dependent child $125,000 for married filing separately $200,000 in all other cases Estates & Trusts Applied to the lesser of: the undistributed net investment income, or the excess of: the adjusted gross income over $12,500 2

3 2017 ADDITIONAL MEDICARE TAX The additional Medicare tax is applied at a rate of 0.9%. Filing Status Threshold Amount Married filing jointly $250,000 Married filing separately $125,000 Single, Head of household, or Qualifying widow(er) $200, LONG-TERM CAPITAL GAINS RATES Maximum Long-Term Capital Gain Tax Rate Taxpayers in the 10% or 15% ordinary income tax bracket 0% Taxpayers in the 25%, 28%, 33%, or 35% ordinary income tax bracket 15% Taxpayers in the 39.6% ordinary income tax bracket 20% IRC Section 1250 depreciation recapture 25% Collectibles 28% 2017 CORPORATE INCOME TAX RATES $0 50,000 $0 15% $0 50,000 75,000 7,500 25% 50,000 75, ,000 13,750 34% 75, , ,000 22,250 39% 100, ,000 10,000, ,900 34% 335,000 10,000,000 15,000,000 3,400,000 35% 10,000,000 15,000,000 18,333,333 5,150,000 38% 15,000,000 18,333, ,416,667 35% ESTATES AND NON-GRANTOR TRUSTS INCOME TAX RATES $0 2,550 $0 15% $0 2,550 6, % 2,550 6,000 9,150 1, % 6,000 9,150 12,500 2, % 9,150 12, , % 12,500 3

4 2017 STANDARD DEDUCTIONS & PERSONAL EXEMPTION Standard Deduction*: Single $6,350 Married filing jointly/ Qualifying widow 12,700 Married filing separately 6,350 Head of household 9,350 Dependent $1,050 ** * increased by: $1,250 for a married taxpayer age 65 or older or blind ($2,500 if both 65 and blind); $1,550 for a single taxpayer age 65 or older or blind ($3,100 if both 65 and blind). ** or $350 plus earned income, if greater. Personal Exemption: $4,050 4

5 2017 RETIREMENT PLAN CONTRIBUTION LIMITS & PHASE-OUTS Elective deferrals 401(k), 403(b), 457, and SARSEPS $18,000 Catch - up contribution $6,000 Defined contribution limit $54,000 Defined benefit limit $215,000 SIMPLE plan elective deferral limit $12,500 SIMPLE catch-up contribution $3,000 Maximum includible compensation $270,000 Highly compensated employee Look-back to 2015 $120,000 Look-back to 2016 $120,000 Key employee (top-heavy plan) greater than $175,000 SEP participation limit $600 IRA or Roth IRA contribution limit $5,500 IRA or Roth IRA catch-up contribution $1,000 IRA deduction phaseout for active participants Single individuals $62,000 $72,000 Married individuals filing jointly $99,000 $119,000 Married individuals filing separately $0 $10,000 Spousal IRA $186,000 $196,000 Roth IRA phaseout Single $118,000 $133,000 Married filing jointly $186,000 $196,000 5

6 2017 ESTATE AND GIFT TAX RATES & EXEMPTIONS Applicable credit for gift/estate taxes $2,141,800 Applicable exclusion amount $5,490,000 Maximum Estate/Gift Tax Rate 40% Maximum Generation-Skipping Transfer Tax (GSTT) Rate 40% Maximum annual gift tax exclusion $14, SOCIAL SECURITY WAGE BASE & EARNINGS LIMITS Wage base $127,200 Earnings limitations: Below Full Retirement Age $16,920 Year attaining Full Retirement Age $44,880 Year of Birth 2017 SOCIAL SECURITY FULL RETIREMENT AGES Social Security Full Retirement Age and 2 months and 4 months and 8 months and 10 months 1960 and later 67 *Note: If your birthday is on January 1st, your benefits are determined as if your birthday was in the previous year. 6

7 2017 HEALTH SAVINGS ACCOUNT LIMITS High-Deductible Health Plan Minimum Deductible Amounts Single $1,300 Family $2,600 High-Deductible Health Plan Maximum Out-of-Pocket Limits Single $6,550 Family $13,100 Health Savings Account Contribution Maximums Single $3,400 Family $6,750 Catch-Up Contributions (age 55 or older) $1, EDUCATION PHASE OUTS EE bonds for education - exclusion phase outs Single $78,150 $93,150 Married filing jointly $117,250 $147,250 Coverdell Education Savings Account - contribution phase outs Single $95,000 $110,000 Married filing jointly $190,000 $220,000 Lifetime Learning Credit - AGI phase outs Single $56,000 $66,000 Married filing jointly $112,000 $132,000 American Opportunity Tax credit - AGI phase outs Single $80,000 $90,000 Married filing jointly $160,000 $180,000 Education loan interest deduction - AGI phase outs Single $65,000 $80,000 Married filing jointly $135,000 $165,000 7

8 2017 ALTERNATIVE MINIMUM TAX (AMT) EXEMPTIONS, PHASE OUTS & RATES Filing Status Exemption AMTI Phase Out Single individuals $54,300 $120,700 Married individuals filing jointly $84,500 $160,900 Married individuals filing separately $42,250 $80,450 Trusts and estates $24,100 $80, AMT RATES MFJ or Single - AMTI up to $187,800 26% MFJ or Single - AMTI over $187,800 28% MFS - AMTI up to $93,900 26% MFS - AMTI over $93,900 28% 2017 CHILD TAX CREDIT Modified AGI Beginning Phase-Out Range for Child Tax Credit Married Filing Jointly $110,000 Single/Head of Household $75,000 Married Filing Separately $55,000 Phase-out complete when MAGI exceeds applicable threshold by $20,000 per child 8