AdministratorWhat is the lowest tax bracket for married filing jointly?
How We Make Money
| Tax rate | Single | Married filing jointly or qualifying widow |
|---|---|---|
| 10% | $0 to $9,950 | $0 to $19,900 |
| 12% | $9,951 to $40,525 | $19,901 to $81,050 |
| 22% | $40,526 to $86,375 | $81,051 to $172,750 |
| 24% | $86,376 to $164,925 | $172,751 to $329,850 |
What is the standard deduction for a couple over 65 filing jointly?
If you are Married Filing Jointly and you OR your spouse is 65 or older, your standard deduction increases by $1,350. If BOTH you and your spouse are 65 or older, your standard deduction increases by $2,700. If one of you is legally blind it increases by $1,350, and if both are, it increases by $2,700.
What are the 2014 tax brackets and income limits?
In 2014, the income limits for all brackets and all filers will be adjusted for inflation and will be as follows (Table 1). [1] The top marginal income tax rate of 39.6 percent will hit taxpayers with an adjusted gross income of $406,751 and higher for single filers and $457,601 and higher for married filers.
What is the standard deduction for Married Filing Jointly?
Standard Deductions. The standard deduction rises to $6,200 for single taxpayers and married taxpayers filing separately. The standard deduction is $12,400 for married couples filing jointly and $9,100 for heads of household. Here’s how those rates compare to 2013:
What is the standard deduction for 2014 for personal exemption?
Table 2. 2014 Standard Deduction and Personal Exemption Filing Status Deduction Amount Single $6,200.00 Married Filing Jointly $12,400.00 Head of Household $9,100.00
What is the estate tax exclusion for 2014?
The exclusion amount for estates of decedents who die in 2014 is $5,340,000, up from a total of $5,250,000 in 2013. Federal Gift Tax Exclusion. The annual exclusion for gifts remains at $14,000 for 2014.