Tax Rates 2014

2015 Tax Rates
2014 Tax Rates 2013 Tax Rates 2012 Tax Rates

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 $406,750
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
Over $432,200 no limit $123,424 plus 39.6% of the excess over $432,200

2014 Tax Rates Estates and 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
Over $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 $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 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
$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 $52,000
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