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

$118,188.75 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

$28,925.50 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 39.6% of the excess over $228,800

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

$2,550

15% of the taxable income

$2,550

$5,800

$375 plus 25% of the excess over $2,550

$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 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%

 

Education 2014 Tax Rates

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

$25,000

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 above the 15% bracket

15%

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
$6,500 if 50 or older

Maximum employee contribution to SIMPLE IRA

$12,000 if under age 50
$14,500 if 50 or older

Maximum Contribution to SEP IRA

25% of compensation up to $51,000

401(k) maximum employee contribution limit

$17,500 if under age 50
$23,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$5,340,000

Annual Exclusion for Gifts

$14,000

ContactUs.com