Tax Rates

2011 Rates2012 Rates 2013 Rates
2014 Tax Rates

2014 Tax Rates Schedule X - Single
If taxable income is over --
But Not Over --
The Tax is:
$0$9,07510% of the taxable amount
$9,075$36,900$907.50 plus 15% of the amount over $9,075
$36,900$89,350$5,081.25 plus 25% of the amount over $36,900
$89,350$186,350$18,193.75 plus 28% of the amount over $89,350
$186,350$405,100$45,353.75 plus 33% of the amount over $186,350
$405,100$406,750$117,541.25 plus 35% of the amount over $405,100
Over $406,750no limit$118,188.75 plus 39.6% of the amount 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$18,15010% of the taxable amount
$18,150$73,800$1,815 plus 15% of the amount over $18,1500
$73,800$148,850$10,162.50 plus 25% of the amount over $73,800
$148,850$226,850$28,925.50 plus 28% of the amount over $148,850
$226,850$405,100$50,765 plus 33% of the amount over $226,850
$405,100$457,600$109,587.50 plus 35% of the amount over $405,100
$457,600no limit$127,962.50 plus 39.6% of the amount over $457,600

2014 Tax Rates Schedule Y-2 - Married Filing Separately
If taxable income is over --
But Not Over --
The Tax is:
$0$9,07510% of the taxable amount
$9,075$36,900$907.50 plus 15% of the amount over $9,075
$36,900$74,425$5,081.25 plus 25% of the amount over $36,900
$74,425$113,425$14,462.50 plus 28% of the amount over $74,425
$113,425$202,550$25,382.50 plus 33% of the amount over $113,425
$202,550$228,800$54,793.75 plus 39.6% of the amount over $228,800
$228,800no limit$63,981.25 plus 39.6% of the amount over $228,800

2014 Tax Rates Schedule Z - Head of Household
If taxable income is over --
But Not Over --
The Tax is:
$0$12,95010% of the taxable amount
$12,950$49,400$1,295 plus 15% of the amount over $12,950
$49,400$127,550$6,762.50 plus 25% of the amount over $49,400
$127,550$206,600$26,300 plus 28% of the amount over $127,550
$206,600$405,100$48,434 plus 33% of the amount over $206,600
$405,100$432,200$113,939 plus 35% of the amount over $405,100
$432,200no limit$123,424 plus 39.6% of the amount over $432,200

2014 Tax Rates Estates & Trusts
If taxable income is over --
But Not Over --
The Tax is:
$0$2,55015% of the taxable amount
$2,550$5,800$375 plus 25% of the amount over $2,550
$5,800$8,900$1,200 plus 28% of the amount over $5,800
$8,900$12,150$2,068 plus 33% of the amount over $8,900
$12,150no limit$3,140 plus 39.6% of the amount over $12,150

Social Security 2014 Tax Rates
Base Salary$117,000
Social Security Tax Rate6.20%
Maximum Social Security Tax$7,254.00
Medicare Base SalaryUnlimited
Medicare Tax Rate1.45%

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-income110% of your 2013 tax liability
Standard mileage rate for business driving56 cents
Standard mileage rate for medical/moving driving23.5 cents
Standard mileage rate for charitable driving14 cents
Child Tax Credit$1,000 per qualifying child
Unearned income maximum for children before kiddie tax applies$1000
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket0%
Maximum capital gains tax rate for taxpayers above the 15% bracket15%
Capital gains tax rate for unrecaptured Sec. 1250 gains25%
Capital gains tax rate on collectibles28%
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 IRA25% 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 deduction100%
Estate tax exemption$5,340,000
Annual Exclusion for Gifts$14,000
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