2014 Tax Rates Schedule X - Single |
||
If taxable income is over |
But not over |
The tax is |
---|---|---|
$0 |
$9,075 |
10% of the taxable amount |
$9,075 |
$36,900 |
$907.50 plus 15% of the excess over $9,075 |
$36,900 |
$89,350 |
$5,081.25 plus 25% of the excess over $36,900 |
$89,350 |
$186,350 |
$18,193.75 plus 28% of the excess over $89,350 |
$186,350 |
$405,100 |
$45,353.75 plus 33% of the excess over $186,350 |
$405,100 |
$406,750 |
$117,541.25 plus 35% of the excess over $405,100 |
Over $406,750 |
no limit |
$118,118.75 plus 39.6% of the excess over $406,750 |
2014 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) |
||
If taxable income is over |
But not over |
The tax is |
---|---|---|
$0 |
$18,150 |
10% of the taxable amount |
$18,150 |
$73,800 |
$1,815 plus 15% of the excess over $18,150 |
$73,800 |
$148,850 |
$10,162.50 plus 25% of the excess over $73,800 |
$148,850 |
$226,850 |
$28,925 plus 28% of the excess over $148,850 |
$226,850 |
$405,100 |
$50,765 plus 33% of the excess over $226,850 |
$405,100 |
$457,600 |
$109,587.50 plus 35% of the excess over $405,100 |
$457,600 |
no limit |
$127,962.50 plus 39.6% of the excess over $457,600 |
2014 Tax Rates Schedule Y-2 - Married Filing Separately |
||
If taxable income is over |
But not over |
The tax is |
---|---|---|
$0 |
$9,075 |
10% of the taxable amount |
$9,075 |
$36,900 |
$907.50 plus 15% of the excess over $9,075 |
$36,900 |
$74,425 |
$5,081.25 plus 25% of the excess over $36,900 |
$74,425 |
$113,425 |
$14,462.50 plus 28% of the excess over $74,425 |
$113,425 |
$202,550 |
$25,382.50 plus 33% of the excess over $113,425 |
$202,550 |
$228,800 |
$54,793.75 plus 35% of the excess over $202,550 |
Over $228,800 |
no limit |
$63,981.25 plus 39.6% of the excess over $228,800 |
2014 Tax Rates Schedule Z - Head of Household |
||
If taxable income is over |
But not over |
The tax is |
---|---|---|
$0 |
$12,950 |
10% of the taxable amount |
$12,950 |
$49,400 |
$1,295 plus 15% of the excess over $12,950 |
$49,400 |
$127,550 |
$6,762.50 plus 25% of the excess over $49,400 |
$127,550 |
$206,600 |
$26,300 plus 28% of the excess over $127,550 |
$206,600 |
$405,100 |
$48,434 plus 33% of the excess over $206,600 |
$405,100 |
$432,200 |
$113,939 plus 35% of the excess over $405,100 |
$432,200 |
no limit |
$123,424 plus 39.6% of the excess over $432,200 |
2014 Tax Rates Estates & Trusts |
||
If taxable income is over |
But not over |
The tax is |
---|---|---|
$0 |
$2,500 |
15% of the taxable income |
$2,500 |
$5,800 |
$375 plus 25% of the excess over $2,500 |
$5,800 |
$8,900 |
$1,200 plus 28% of the excess over $5,800 |
$8,900 |
$12,150 |
$2,068 plus 33% of the excess over $8,900 |
$12,150 |
no limit |
$3,140.50 plus 39.6% of the excess over $12,150 |
Social Security 2014 Tax Rates |
|
Base Salary |
$117,000 |
Social Security Tax Rate |
6.2% |
Maximum Social Security Tax |
$7,254.00 |
Medicare Base Salary |
unlimited |
Medicare Tax Rate |
1.45% |
Additional Medicare 2014 Tax Rates |
|
Additional Medicare Tax |
0.9% |
Filing status |
Compensation over |
Married filing jointly |
$250,000 |
Married filing separate |
$125,000 |
Single |
$200,000 |
Head of household (with qualifying person) |
$200,000 |
Qualifying widow(er) with dependent child |
$200,000 |
Education 2014 Credit and Deduction Limits |
|
American Opportunity Tax Credit |
$2,500 |
Lifetime Learning Credit |
$2,000 |
Student Loan Interest Deduction |
$2,500 |
Coverdell Education Savings Contribution |
$2,000 |
Miscellaneous 2014 Tax Rates |
|
Personal Exemption |
$3,950 |
Business Equipment Expense Deduction |
$500,000 |
Prior-year safe harbor for estimated taxes of higher-income |
110% of your 2013 tax liability |
Standard mileage rate for business driving |
56 cents |
Standard mileage rate for medical/moving driving |
23.5 cents |
Standard mileage rate for charitable driving |
14 cents |
Child Tax Credit |
$1,000 per qualifying child |
Unearned income maximum for children before kiddie tax applies |
$1,000 |
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket |
0% |
Maximum capital gains tax rate for taxpayers in the 25%, 28%, 33%, or 35% bracket |
15% |
Maximum capital gains tax rate for taxpayers in the 39.6% bracket |
20% |
Capital gains tax rate for unrecaptured Sec. 1250 gains |
25% |
Capital gains tax rate on collectibles |
28% |
Maximum contribution for Traditional/Roth IRA |
$5,500 if under age 50 |
Maximum employee contribution to SIMPLE IRA |
$12,000 if under age 50 |
Maximum Contribution to SEP IRA |
25% of compensation up to $52,000 |
401(k) maximum employee contribution limit |
$17,500 if under age 50 |
Self-employed health insurance deduction |
100% |
Estate tax exemption |
$5,340,000 |
Annual Exclusion for Gifts |
$14,000 |