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2014 Rates and Limits Archive

TY 2014 Retirement Plan Contributions Limits

PlanContribution LimitsCatch-up Contribution (if 50 or older)
Traditional IRA $ 5,500 $1,000
Roth IRA$ 5,500$1,000
SIMPLE$ 12,000 $2,500
401(k), 403 (b), and 457 plans$17,500 $ 5,500

TY 2014 Social Security & Medicare Tax

Maximum Compensation subject to FICA
Social Security$117,000
Medicare TaxNo Limit
Medicare Additional Taxover $200,000

TY 2014 Income Tax Brackets

SingleMarried Filing JointlyMarried Filing SeparatelyHead of HouseholdMarginal Tax Rate
$0-$9,075
$9,076-$36,900
$36,901-$89,350
$89,351-$186,350
$186,351-$405,100
$405,101-$406,750
$405,751 and up
$0 - $18,150
$18,151-$73,800
$73,801-$148,850
$148,851-$226,850
$226,851-$405,100
$405,101-$457,600
$457,601 and up
$0-$9,075
$9,075-$36,900
$36,900-$74,425
$74,426-$113,425
$113,426-$202,550
$202,551-$228,800
$228,801 and up
$0-$12,950
$12,951-$49,400
$49,401-$127,550
$127,551-$206,600
$206,601-$405,100
$405,101-$432,200
$432,200 and up
10.0%
15.0%
25.0%
28.0%
33.0%
35.0%
39.6%

TY 2014 Deductions & Exemptions

SingleMarried Filing JointlyMarried Filing SeparatelyHead of Household
Standard Deduction$6,200$12,400$6,200$9,100
Additional Deduction for 65 and Older or Blind$1,550$1,200$1,200$1,550
Personal Exemption$3,950$3,950$3,950$3,950

TY 2014 Mileage Rates

PurposeCents per mile
Business56 ¢
Medical23.5 ¢
Charitable14 ¢
Moving23.5 ¢

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