Tax Rates
2014 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 $405,100 |
Over $406,750 |
no limit |
$118,188.75 plus 39.6% o 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 |
$127,932.50 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 |
93% 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 |
Maximum employee contribution to SIMPLE IRA |
$12,000 if under age 50 |
Maximum Contribution to SEP IRA |
25% of compensation up to $51,000 |
401(k) maximum employee contribution limit |
$17,500 if under age 50 |
Self-employed health insurance deduction |
100% |
Estate tax exemption |
$5,340,000 |
Annual Exclusion for Gifts |
$14,000 |
| 2013 Tax Rates Schedule X - Single | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$8,925 |
10% of the taxable amount |
$8,925 |
$36,250 |
$892.50 plus 15% of the excess over $8,925 |
$36,250 |
$87,850 |
$4,991.25 plus 25% of the excess over $36,250 |
$87,850 |
$183,250 |
$17,891.25 plus 28% of the excess over $87,850 |
$183,250 |
$398,350 |
$44,603.25 plus 33% of the excess over $183,250 |
$398,350 |
$400,000 |
$115,586.25 plus 35% of the excess over $398,350 |
Over $400,000 |
no limit |
$116,163.75 plus 39.6% o the excess over $400,000 |
| 2013 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$17,850 |
10% of the taxable amount |
$17,850 |
$72,500 |
$1,785 plus 15% of the excess over $17,850 |
$72,500 |
$146,400 |
$9,982.50 plus 25% of the excess over $72,500 |
$146,400 |
$223,050 |
$28,457.50 plus 28% of the excess over $146,400 |
$223,050 |
$398,350 |
$49,919.50 plus 33% of the excess over $223,050 |
$398,350 |
$450,000 |
$107,768.50 plus 35% of the excess over $398,350 |
$450,000 |
no limit |
$125,846 plus 39.6% of the excess over $450,000 |
| 2013 Tax Rates Schedule Y-2 - Married Filing Separately | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$8,925 |
10% of the taxable amount |
$8,925 |
$36,250 |
$892.50 plus 15% of the excess over $8,925 |
$36,250 |
$73,200 |
$4,991.25 plus 25% of the excess over $36,250 |
$73,200 |
$111,525 |
$14,228.75 plus 28% of the excess over $73,200 |
$111,525 |
$199,175 |
$24,959.75 plus 33% of the excess over $111,525 |
$199,175 |
$225,000 |
$53,884.25 plus 35% of the excess over $199,175 |
Over $225,000 |
no limit |
$62,923 plus 39.6% of the excess over $225,000 |
| 2013 Tax Rates Schedule Z - Head of Household | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$12,750 |
10% of the taxable amount |
$12,750 |
$48,600 |
$1,275 plus 15% of the excess over $12,750 |
$48,600 |
$125,450 |
$6,652.50 plus 25% of the excess over $48,600 |
$125,450 |
$203,150 |
$25,865 plus 28% of the excess over $125,450 |
$203,150 |
$398,350 |
$47,621 plus 33% of the excess over $203,150 |
$398,350 |
$425,000 |
$112,037 plus 35% of the excess over $398,350 |
$425,000 |
no limit |
$121,364.50 plus 39.6% of the excess over $425,000 |
| 2013 Tax Rates Estates & Trusts | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$2,450 |
15% of the taxable income |
$2,450 |
$5,700 |
$367.50 plus 25% of the excess over $2,450 |
$5,700 |
$8,750 |
$1,180 plus 28% of the excess over $5,700 |
$8,750 |
$11,950 |
$2,034 plus 33% of the excess over $8,750 |
$11,950 |
no limit |
$3,090 plus 39.6% of the excess over $11,950 |
| Social Security 2013 Tax Rates | |
|---|---|
Base Salary |
$113,700 |
Social Security Tax Rate |
6.2% |
Maximum Social Security Tax |
$7,049.40 |
Medicare Base Salary |
unlimited |
Medicare Tax Rate |
1.45% |
| Education 2013 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 2013 Tax Rates | |
|---|---|
Personal Exemption |
$3,900 |
Business Equipment Expense Deduction |
$500,000 |
Prior-year safe harbor for estimated taxes of higher-income |
93% of your 2012 tax liability |
Standard mileage rate for business driving |
56.5 cents |
Standard mileage rate for medical/moving driving |
24 cents |
Standard mileage rate for charitable driving |
14 cents |
Child Tax Credit |
$1,000 |
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 |
Maximum employee contribution to SIMPLE IRA |
$12,000 if under age 50 |
Maximum Contribution to SEP IRA |
25% of compensation up to $51,000 |
401(k) maximum employee contribution limit |
$17,500 if under age 50 |
Self-employed health insurance deduction |
100% |
Estate tax exemption |
$5,250,000 |
Annual Exclusion for Gifts |
$14,000 |
| 2012 Tax Rates Schedule X - Single | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$8,700 |
10% of the taxable amount |
$8,700 |
$35,350 |
$870 plus 15% of the amount over $8,700 |
$35,350 |
$86,650 |
$4,867.50 plus 25% of the amount over $35,350 |
$86,650 |
$178,650 |
$17,442.50 plus 28% of the amount over $86,650 |
$178,650 |
$388,350 |
$43,482.50 plus 33% of the amount over $178,650 |
$388,350 |
no limit |
$112,683.50 plus 35% of the amount over $388,350 |
| 2012 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$17,400 |
10% of the taxable amount |
$17,400 |
$70,700 |
$1,740 plus 15% of the amount over $17,400 |
$70,700 |
$142,700 |
$9,735 plus 25% of the amount over $70,700 |
$142,700 |
$217,450 |
$27,735 plus 28% of the amount over $142,700 |
$217,450 |
$388,350 |
$48,665.50 plus 33% of the amount over $217,450 |
$388,350 |
no limit |
$105,062 plus 35% of the amount over $388,350 |
| 2012 Tax Rates Schedule Y-2 - Married Filing Separately | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$8,700 |
10% of the taxable amount |
$8,700 |
$35,350 |
$870 plus 15% of the amount over $8,700 |
$35,350 |
$71,350 | $4,867.50 plus 25% of the amount over $35,350 |
$71,350 |
$108,725 |
$13,867.50 plus 28% of the amount over $71,350 |
$108,725 |
$194,175 |
$24,332.50 plus 33% of the amount over $108,725 |
$194,175 |
no limit |
$52,531 plus 35% of the amount over $194,175 |
| 2012 Tax Rates Schedule Z - Head of Household | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$12,400 |
10% of the taxable amount |
$12,400 |
$47,350 |
$1,240 plus 15% of the amount over $12,400 |
$47,350 |
$122,300 |
$6,482.50 plus 25% of the amount over $47,350 |
$122,300 |
$198,050 |
$25,220 plus 28% of the amount over $122,300 |
$198,050 |
$388,350 |
$46,430 plus 33% of the amount over $198,050 |
$388,350 |
no limit |
$109,229 plus 35% of the amount over $388,350 |
| 2012 Tax Rates Estates & Trusts | ||
|---|---|---|
| If taxable income is over | But not over | The tax is |
$0 |
$2,400 |
15% |
$2,400 |
$5,600 |
$360 plus 25% of the amount over $2,400 |
$5,600 |
$8,500 |
$1,160 plus 28% of the amount over $5,600 |
$8,500 |
$11,650 |
$1,972 plus 33% of the amount over $8,500 |
$11,650 |
no limit |
$3,011.50 plus 35% of the amount over $11,650 |
| Social Security 2012 Tax Rates | |
|---|---|
Base Salary |
$93,100 |
Social Security Tax Rate |
4.2% |
Maximum Social Security Tax |
$4,624.20 |
Medicare Base Salary |
Unlimited |
Medicare Tax Rate |
1.45% |
| Education 2012 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 2012 Tax Rates | |
|---|---|
Personal Exemption |
$3,800 |
Business Equipment Expense Deduction |
$500,000 |
Prior-year safe harbor for estimated taxes of higher-income |
93% of your 2011 tax liability |
Standard mileage rate for business driving |
55.5 cents |
Standard mileage rate for medical/moving driving |
23 cents |
Standard mileage rate for charitable driving |
14 cents |
Child Tax Credit |
$1,000 |
Unearned income maximum for children before kiddie tax applies |
$950 |
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 |
$5,000 if under age 50 |
Maximum employee contribution to SIMPLE IRA |
$11,500 if under age 50 |
Maximum Contribution to SEP IRA |
25% of compensation up to $50,000 |
401(k) maximum employee contribution limit |
$17,000 if under age 50 |
Self-employed health insurance deduction |
100% |
Estate tax exemption |
$5,120,000 |
Annual Exclusion for Gifts |
$13,000 |