2014 CCH Whole Ball of Tax

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2014 Wolters Kluwer, CCH Whole Ball of Tax

Contact:
Eric Scott , 847-267-2179, eric.scott@wolterskluwer.com
Brenda Au , 847-267-2046, brenda.au@wolterskluwer.com

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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