2014 Federal Tax Rates

Single Taxpayers - Standard Deduction $6,200 
0 to $9,07510%
$9,075 to $36,90015%
$36,900 to $89,35025%
$89,350 to $186,35028%
$186,350 to $405,10033%
$405,100 to $406,75035%
Over $406,75039.6%

Married Jointly & Surviving Spouses - Standard Deduction $12,400 
0 to $18,15010%
$18,150 to $73,80015%
$73,800 to $148,85025%
$148,850 to $226,85028%
$226,850 to $405,10033%
$405,100 to $457,60035%
Over $457,60039.6%

Married Filing Separately - Standard Deduction $6,200 
0 to $9,07510%
$9,075 to $36,90015%
$36,900 to $74,42525%
$74,425 to $113,42528%
$113,425 to $202,55033%
$202,550 to $228,80035%
Over $228,80039.6%

Head of Household - Standard Deduction $9,100 
0 to $12,95010%
$12,950 to $49,40015%
$49,400 to $127,55025%
$127,550 to $206,60028%
$206,600 to $405,10033%
$405,100 to $432,20035%
Over $432,20039.6%

Estates & Trusts 
0 to $2,50015%
$2,500 to $5,80025%
$5,800 to $8,90028%
$8,900 to $12,15033%
Over $12,15039.6%

Social Security 
Social Security Tax Rate: Employers6.2%
Social Security Tax Rate: Employees6.2%
Social Security Tax Rate: Self-Employed12.4%
Maximum Taxable Earnings117,000
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 
Personal Exemption3950
Business expensing limit: Cap on equipment purchases200000
Business expensing limit: New and Used Equipment and Software25000
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 Credit1000
Unearned income maximum for children under 19 before kiddie tax applies1000
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 exemption5340000
Annual Exclusion for Gifts14000