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contact:
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(847) 267-2179
eric.scott@wolterskluwer.com
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(847) 267-2046
brenda.au@wolterskluwer.com
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throughout the tax season.
Wolters Kluwer, CCH provides special CCH Tax Briefings on key topics at: CCHGroup.com/Legislation.
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2014 CCH Whole Ball of Tax
2013-2014 Tax Brackets
Married Filing Jointly (& Surviving Spouse)
2014 Taxable Income |
Tax Rate |
2013 Taxable Income |
Tax Rate |
Not over $18,150 |
10% |
Not over $17,850 |
10% |
$18,151 - $73,800 |
15% |
$17,851 - $72,500 |
15% |
$73,801 - $148,850 |
25% |
$72,501 - $146,400 |
25% |
$148,851 - $226,850 |
28% |
$146,401 - $223,050 |
28% |
$226,851 - $405,100 |
33% |
$223,051 - $398,350 |
33% |
$405,101 - $457,600 |
35% |
$398,351 - $450,000 |
35% |
Over $457,600 |
39.6% |
Over $450,000 |
39.6% |
Married Filing Separately
2014 Taxable Income |
Tax Rate |
2013 Taxable Income |
Tax Rate |
Not over $9,075 |
10% |
Not over $8,925 |
10% |
$9,076 - $36,900 |
15% |
$8,926 - $36,250 |
15% |
$36,901 - $74,425 |
25% |
$36,251 - $73,200 |
25% |
$74,426 - $113,425 |
28% |
$73,201 - $111,525 |
28% |
$113,426 - $202,550 |
33% |
$111,526 - $199,175 |
33% |
$202,551 - $228,800 |
35% |
$199,176 - $225,000 |
35% |
Over $228,800 |
39.6% |
Over $225,000 |
39.6% |
Single Filers
2014 Taxable Income |
Tax Rate |
2013 Taxable Income |
Tax Rate |
Not over $9,075 |
10% |
Not over $8,925 |
10% |
$9,076 - $36,900 |
15% |
$8,926 - $36,250 |
15% |
$36,901 - $89,350 |
25% |
$36,251 - $87,850 |
25% |
$89,351 - $186,350 |
28% |
$87,851 - $183,250 |
28% |
$186,351 - $405,100 |
33% |
$183,251 - $398,350 |
33% |
$405,101 - $406,750 |
35% |
$398,351 - $400,000 |
35% |
Over $406,750 |
39.6% |
Over $400,000 |
39.6% |
Head of Household
2014 Taxable Income |
Tax Rate |
2013 Taxable Income |
Tax Rate |
Not over $12,950 |
10% |
Not over $12,750 |
10% |
$12,951 - $49,400 |
15% |
$12,751 - $48,600 |
15% |
$49,401- $127,550 |
25% |
$48,601 - $125,450 |
25% |
$127,551 - $206,600 |
28% |
$125,451 - $203,150 |
28% |
$206,601 - $405,100 |
33% |
$203,151 - $398,350 |
33% |
$405,101 - $432,200 |
35% |
$398,351 - $425,000 |
35% |
Over 432,200 |
39.6% |
Over $425,000 |
39.6% |
Standard Deduction Amounts
Filing Status |
2014 |
2013 |
Increase |
Married Filing Jointly
(& Surviving Spouse) |
$12,400 |
$12,200 |
$200 |
Married Filing Separately |
$6,200 |
$6,100 |
$100 |
Single |
$6,200 |
$6,100 |
$100 |
Head of Household |
$9,100 |
$8,950 |
$150 |
Standard Deduction for Dependents (“Kiddie” Standard Deduction)
2014 |
2013 |
Increase |
$1,000 |
$1,000 |
$0 |
Income Level at Which 3-Percent Itemized Deduction Limitation Takes Effect (Adjusted Gross Income)
Filing Status |
2014 |
2013 |
Married Filing Jointly
(& Surviving Spouse) |
$305,050 |
$300,000 |
Married Filing Separately |
$152,525 |
$150,000 |
Single |
$254,200 |
$250,000 |
Head of Household |
$279,650 |
$275,000 |
Personal Exemption Amounts
2014 |
2013 |
Increase |
$3,950 |
$3,900 |
$50 |
Threshold for Personal Exemption Phaseout
Filing Status |
2014 |
2013 |
Married Filing Jointly
(& Surviving Spouse) |
$305,050 |
$300,000 |
Married Filing Separately |
$152,525 |
$150,000 |
Single |
$254,200 |
$250,000 |
Head of Household |
$279,650 |
$275,000 |
Gift Tax Exemption
2014 |
2013 |
Increase |
$14,000 |
$14,000 |
$0 |
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nb-14-13
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