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

$127,962.50 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

110% 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
$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 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 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

110% 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
$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 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 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

$110,100

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

110% 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
$6,000 if 50 or older

Maximum employee contribution to SIMPLE IRA

$11,500 if under age 50
$14,000 if 50 or older

Maximum Contribution to SEP IRA

25% of compensation up to $50,000

401(k) maximum employee contribution limit

$17,000 if under age 50
$22,500 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$5,120,000

Annual Exclusion for Gifts

$13,000

2011 Tax Rates Schedule X - Single

If taxable income is over

But not over

The tax is

$0

$8,500

10% of the taxable amount

$8,500

$34,500

$850 plus 15% of the amount over $8,500

$34,500

$83,600

$4,750 plus 25% of the amount over $34,500

$83,600

$174,400

$17,025.25 plus 28% of the amount over $83,600

$174,400

$379,150

$42,449 plus 33% of the amount over $174,400

$379,150

no limit

$110,016.50 plus 35% of the amount over $379,150

2011 Tax Rates Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er)

If taxable income is over

But not over

The tax is

$0

$17,000

10% of the taxable amount

$17,000

$69,000

$1,700 plus 15% of the amount over $17,000

$69,000

$139,350

$9,500 plus 25% of the amount over $69,000

$139,350

$212,300

$27,087.50 plus 28% of the amount over $139,350

$212,300

$379,150

$47,513.50 plus 33% of the amount over $212,300

$379,150

no limit

$102,574 plus 35% of the amount over $379,150

2011 Tax Rates Schedule Y-2 - Married Filing Separately

If taxable income is over

But not over

The tax is

$0

$8,500

10% of the taxable amount

$8,500

$34,500

$850 plus 15% of the amount over $8,500

$34,500

$69,675

 

$4,750 plus 25% of the amount over $34,500

$69,675

$106,150

$13,543.75 plus 28% of the amount over $69,675

$106,150

$189,575

$23,756.75 plus 33% of the amount over $106,150

$189,575

no limit

$51,287 plus 35% of the amount over $189,575

2011 Tax Rates Schedule Z - Head of Household

If taxable income is over

But not over

The tax is

$0

$12,150

10% of the taxable amount

$12,150

$46,250

$1,215 plus 15% of the amount over $12,150

$46,250

$119,400

$6,330 plus 25% of the amount over $46,250

$119,400

$193,350

$24,617.50 plus 28% of the amount over $119,400

$193,350

$379,150

$45,323.50 plus 33% of the amount over $193,350

$379,150

no limit

$106,637.50 plus 35% of the amount over $379,150

2011 Tax Rates Estates & Trusts

If taxable income is over

But not over

The tax is

$0

$2,300

15%

$2,300

$5,450

$345 plus 25% of the amount over $2,300

$5,450

$8,300

$1,132.50 plus 28% of the amount over $5,450

$8,300

$11,350

$1,930.50 plus 33% of the amount over $8,300

$11,350

no limit

$2,937 plus 35% of the amount over $11,350

Social Security 2011 Tax Rates

Base Salary

$106,800

Social Security Tax Rate

4.2%

Maximum Social Security Tax

$4,485.60

Medicare Base Salary

Unlimited

Medicare Tax Rate

1.45%

Education 2011 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 2011 Tax Rates

Personal Exemption

$3,700

Business Equipment Expense Deduction (Used)

$500,000

Business Equipment Expense Deduction (New)

$2,000,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2010 tax liability

Standard mileage rate for business driving

Before July 1st: 51 cents
After July 1st: 55.5 cents

Standard mileage rate for medical/moving driving

Before July 1st: 19 cents
After July 1st: 23.5 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
$6,000 if 50 or older

Maximum employee contribution to SIMPLE IRA

$11,500 if under age 50
$14,000 if 50 or older

Maximum Contribution to SEP IRA

25% of compensation up to $49,000

401(k) maximum employee contribution limit

$16,500 if under age 50
$22,000 if 50 or older

Self-employed health insurance deduction

100%

Estate tax exemption

$5,000,000

Annual Exclusion for Gifts

$13,000