The software development team at H&R Block has been
busy programming away to improve enhanced features in
their H&R Block 2017 tax software
The HR Block 2017 tax preparation software takes
on a whole new role to simplify your filing process
as it calculates your entries and instantly compares
different tax scenarios to choose the best path for
your maximum refund. Quickly within seconds you can
evaluate all of your tax choices to ensure your making
the best decision.
H&R Block Online Tax Preparation Editions >>
Using HR Block 2017 At Home ® [ Formally TaxCut ]
online or downloadable tax software to prepare your
return reduces the likelihood of a mistake since all
calculations are automatically double checked. In fact,
top online tax programs like H&R Block give you a guarantee
of getting you the maximum refund possible for your
personal tax situation by thoroughly maximizing your
deductions to reduce tax liability.
With the economy still in a rut, the worst could
still be in front of us. Today there is a wide range
of tax changes that deal with credits, deductions, and
tax rate changes that you should be aware of. H&R Block
2017 is an ideal product to help you better understand
tax law changes that are coming. Some of these changes
may not be assured, but on the whole taxes are going
to be higher due to our national deficit and the incredibly
poor job our politicians have done to manage our economy.
Know how to plan ahead to lower your income tax liabilities.
Some of the tax law
changes covered in HR Block 2017 Editions:
This is an overview for tentative tax law change purposes
and may be subject to changes on or before the end of
the year. Many facets of the new tax laws may be revised
prior to 2017.
In 2017 for each exemption claimed, the amount
deducted on a federal income tax return
for 2016 income is $4,050,
which is an increase of $50 from the 2015 amount.
2017 Social Security and Medicare
Medicare taxes as in the past will be based on
wages earned in a given year and are taxed at the
1.45% rate. However, when preparing your tax return
by April 2017, new Medicare taxes will be applied to
wages earned in excess of $200,000 for Unmarried
filers and in excess of $250,000 for Married filers
at a rate of 0.9%.
The Cost of Living Adjustment (COLA) was 0.0% in
2016, maintaining the SSI limit at $2,663 per month.
Social Security tax remains at 6.20%, while the wage
limit, or Social Security maximum, also remains at
2017 Capital Gains Taxes
ATRA made several important changes to the
treatment of capital gains, and eliminated sunset
provisions, which has added stability and permanence
to these rules:
- Qualified Dividends:
income received shall be taxed at the same rate
as long-term capital gains.
- individuals in the 10% and 15% tax brackets
will pay 0% on eligible dividends as well as
most capital gains.
- individuals falling within the 25%, 33%, and
35% federal income tax brackets will pay 15% on
capital gains, while taxpayers falling within
the 39.6% bracket will pay 20%.
A new 3.8% Medicare surcharge tax on investment
income is now added under certain incomes; thereby
increasing the effective rate on capital gains to
23.8% (20% + 3.8%) This will apply to:
- Unmarried individuals (Single) with income
- Married couples filing jointly with income
2017 Unified Credits, Gift Tax & Estate Tax
ATRA has also increased the estate and gift tax
rate from 35 to 40%. The gift tax and estate tax
exclusion continues to be indexed for inflation and
remains at $14,000 (the same as 2015 and 2014) and
increase to $5.45 million respectively for 2016.
2017 Standard Tax Deductions
The IRS states that approximately two out of
every three taxpayers claim the standard deduction.
For 2016, there is virtually no change to standard
deductions from prior levels applied to your tax
return in 2017, including:
- Single (Unmarried Individuals): $6,300 (no
- Married Filing Separately: $6,300 (no
- Head of Household: $9,300 (an increase of
- Married Taxpayers Filing Jointly and
Qualifying Widow(er)s: $12,600 (no change)
Tax law changes will effect most us, but the H&R
Block 2017 tax software editions are set to make sure
you get every deduction possible as they guarantee you
your biggest refund possible.
H&R Block 2017 gives
you the most options of any tax preparation brand:
You can file using online tax preparation, buy their
software or download it to your desktop, or visit one
of their local offices all over the US and have your
taxes prepared by one of their income tax professionals.
Whichever you choose you'll find that their exceptional
guidance and extra attention to individual support makes
this brand a top rated choice for your tax preparation