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2014 Tax Rates – Single Taxpayers – Standard Deduction $6,200
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% $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 $200,000,000
Business expensing limit: New and Used Equipment and Software $500,000
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
$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 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

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