Throughout the fourth quarter of 2016, the IRS announced a variety of inflation-adjusted tax amounts for use in 2017. Some amounts have increased from 2016 to 2017, others have remained the same due to rounding rules in calculating inflation.
Here is a sampling of the over 100 adjustments that were made:
| 2017 | 2016 | |
| Standard Deduction (Single Filer) | $6,350 | $6,300 |
| Personal Exemption | $4,050 | $4,050 |
| Start of Top 39.6% Tax Bracket (Joint Filers) | $470,700 | $466,950 |
| Gift Tax Annual Exclusion | $14,000 | $14,000 |
| Estate/Gift Tax Unified Exclusion | $5.49 million | $5.45 million |
| Section 179 Expensing Cap | $510K | $500K |
| Section 179 Phase-Out | $2.03 million | $2.01 million |
| Per Diem Travel Allowance (High Cost Areas) | $282 | $275 |
| Social Security Wage Base: | $127,200 | $118,500 |