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 amount |
| $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 (Adjusted Gross Income below $154,950) | $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 and qualified small business stock | 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 | $5,430,000 |
| Annual Exclusion for Gifts | $14,000 |
