Tax Rates

2014 Tax Rates - Single Taxpayers - Standard Deduction $6,200 2013 Rates

  • 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: Employers6.2%
  • Social Security Tax Rate: Employees6.2%
  • Social Security Tax Rate: Self-Employed12.4%
  • Maximum Taxable Earnings$117,000
  • Medicare Base SalaryUnlimited
  • Medicare Tax Rate1.45%
  • 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$200,000,000
  • Business expensing limit: New and Used Equipment and Software$500,000
  • Prior-year safe harbor for estimated taxes of higher-income110% of your 2014 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
  • 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% bracket0%
  • Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket15%
  • Maximum capital gains tax rate for taxpayers in the 39.6% bracket20%
  • 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 eligible compensation
    up to $52,000
  • 401(k) maximum employee contribution limit$17,500 if under age 50
    $23,000 if 50 or older
  • 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