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Davis Tax Services, LLP
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Tucson, AZ 85712
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Tax Tips & Topics
Enrolled Agent

What's New for 2017 tax year

The "Tax Cuts and Jobs Act" (TCJA) passed in December won't affect 2017 returns hardly at all. The only effect to note is that the threshold for deducting medical expenses has been rolled back to 7.5% for 2017 and 2018. The floor figure had jumped to 10% two years ago, and will return to 10% in 2019.

To read highlights of the new tax law for 2018, click here.

Because April 15 falls on a weekend again this year, the filing deadline will be Tuesday, April 17.

Read about Arizona changes here.

Standard mileage rates. The 2017 rates for use of your vehicle declined:

  • Business use: 53.5¢
  • Moving or medical: 17¢
  • Charity: 14¢ (unchanged)
  • For 2018, the mileage rates are 54.5¢ for business and 18¢ for medical miles. The moving expense deduction has been eliminated by the TCJA. For more information about tax changes for 2017, look at:

  • What's new for 2017
  • Cost of Living Adjustments for 2018
  • Cost of Living Adjustments for 2017
  • 2017 Retirement Plan Limits
  • 2017 Retirement Plan Limits
  • Social Security Cost of Living Adjustments

  • © 2006 Davis Tax Services. This material is provided as general information only and is designed to supplement our professional advice which is provided individually.