Tax Brackets For 2014

Here’s what
you will be 
paying in
Federal Income Taxes as
of Jan. 1, 2014.

The “Tax Brackets” for 2014 will be
10%, 15%, 25%, 28%, 35% and 39.6%. 

YOUR Federal Tax Rate is determined by your Adjusted Gross Income,
or AGI 
(total
income, minus all deductions)
Here are the breakdowns..
  • AGI =  Over $1 but not over $18,150  
  • TAX = 10% of the total AGI
  • AGI =   $18,151 through $73,800 
  • TAX =  $1,815 + 15% of all over $18,150

  • AGI =   $73,801
    through $148,850
  • TAX =  $10,162.50 + 25% of all over $73,800

  • AGI =   $148,851 through $226,850
  • TAX =  $28,925 + 28% of all over $148,850

  • AGI =   $226,851
    through $405,100
      
  • TAX =  $50,765 + 33% of all over $226,850

  • AGI =  $405,101 through $457,600
  • TAX = $109,587.50 + 35% of
    all over $405,100

  • AGI =   More
    than $457,600
                                       
  • TAX =  $127,962.50 + 39.6% of all over $457,600

  SAMPLE CALCULATION: 
  A millionaire (AGI = $1-million) will pay
  $342,752.90 in Federal Income
Taxes.

  Now, do you STILL think
the rich don’t pay
 
their fair share of
taxes?  

Posted in Tax Brackets