|
|||
|
10% |
0 to $9,075 |
||
|
15% |
$9,075 to $36,900 |
||
|
25% |
$36,900 to $89,350 |
||
|
28% |
$89,350 to $186,350 |
||
|
33% |
$186,350 to $405,100 |
||
|
35% |
$405,100 to $406,750 |
||
|
39.6% |
Over $406,750 |
||
|
2014 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,400 |
|||
|
10% |
0 to $18,150 |
||
|
15% |
$18,150 to $73,800 |
||
|
25% |
$73,800 to $148,850 |
||
|
28% |
$148,850 to $226,850 |
||
|
33% |
$226,850 to $405,100 |
||
|
35% |
$405,100 to $457,600 |
||
|
39.6% |
Over $457,600 |
||
|
2014 Tax Rates – Married Filing Separately – Standard Deduction $6,200 |
|||
|
10% |
0 to $9,075 |
||
|
15% |
$9,075 to $36,900 |
||
|
25% |
$36,900 to $74,425 |
||
|
28% |
$74,425 to $113,425 |
||
|
33% |
$113,425 to $202,550 |
||
|
35% |
$202,550 to $228,800 |
||
|
39.6% |
Over $228,800 |
||
|
2014 Tax Rates – Head of Household – Standard Deduction $9,100 |
|||
|
10% |
0 to $12,950 |
||
|
15% |
$12,950 to $49,400 |
||
|
25% |
$49,400 to $127,550 |
||
|
28% |
$127,550 to $206,600 |
||
|
33% |
$206,600 to $405,100 |
||
|
35% |
$405,100 to $432,200 |
||
|
39.6% |
Over $432,200 |
||
|
2014 Tax Rates – Estates & Trusts |
|||
|
15% |
0 to $2,500 |
||
|
25% |
$2,500 to $5,800 |
||
|
28% |
$5,800 to $8,900 |
||
|
33% |
$8,900 to $12,150 |
||
|
39.6% |
Over $12,150 |
||
|
Social Security |
2014 Tax Rates |
|
Social Security Tax Rate: Employers |
6.2% |
|
Social Security Tax Rate: Employees |
6.2% |
|
Social Security Tax Rate: Self-Employed |
12.4% |
|
Maximum Taxable Earnings |
$117,000 |
|
Medicare Base Salary |
Unlimited |
|
Medicare Tax Rate |
1.45% |
|
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) |
0.9% |
|
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) |
3.8% |
|
Miscellaneous |
2014 Tax Rates |
| Personal Exemption | $3,950 |
|
Business expensing limit: Cap on equipment purchases |
$200,000 |
|
Business expensing limit: New and Used Equipment and Software |
$25,000 |
|
Prior-year safe harbor for estimated taxes of higher-income |
110% of your 2014 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 |
|
Unearned income maximum for children under 19 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 but below the 39.6% 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 eligible compensation |
|
401(k) maximum employee contribution limit |
$17,500 if under age 50 |
|
Estate tax exemption |
$5,340,000 |
|
Annual Exclusion for Gifts |
$14,000 |
|
Education |
2014 Tax Rates |
|
American Opportunity Credit (Hope) |
$2,500 |
|
Lifetime Learning Credit |
$2,000 |
|
Student Loan Interest Deduction |
$2,500 |
|
Coverdell Education Savings Contribution |
$2,000 |
|
Standard Meal Rates for Family Child Care Providers for 2014 income tax returns |
|
|
Continental U.S. |
2014 Tax Rates |
|
For each breakfast |
$1.62 |
|
For each lunch or supper |
$2.98 |
|
For each snack (up to 3 per day for each child) |
$0.82 |
|
Alaska |
2014 Tax Rates |
|
For each breakfast |
$2.59 |
|
For each lunch or supper |
$4.84 |
|
For each snack (up to 3 per day for each child) |
$1.33 |
|
Hawaii |
2014 Tax Rates |
|
For each breakfast |
$1.88 |
|
For each lunch or supper |
$3.49 |
|
For each snack (up to 3 per day for each child) |
$0.96 |
