Income Tax Calculator Usa 2014
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Reviewed by Calculator Editorial Team
Calculate your estimated 2014 US federal income tax liability using this official IRS-based calculator. Enter your taxable income and filing status to get your tax amount, effective tax rate, and tax bracket details.
How This Calculator Works
The 2014 US income tax calculator uses the official IRS tax brackets and rates for federal income tax. The calculation follows these steps:
- Subtract the standard deduction from your taxable income
- Apply the progressive tax brackets to the taxable amount
- Calculate the total tax owed
- Determine your effective tax rate
Formula Used
Taxable Income = Gross Income - Deductions - Standard Deduction
Tax Owed = Sum of (Taxable Income × Tax Rate for each bracket)
Effective Tax Rate = (Tax Owed / Taxable Income) × 100
The calculator uses the 2014 IRS tax brackets which are progressive, meaning higher income levels are taxed at higher rates. The standard deduction amounts vary by filing status.
2014 US Tax Brackets
The 2014 federal income tax brackets are as follows:
| Filing Status | 10% Bracket | 15% Bracket | 25% Bracket | 28% Bracket | 33% Bracket | 35% Bracket | 39.6% Bracket |
|---|---|---|---|---|---|---|---|
| Single | $0 - $9,075 | $9,076 - $36,900 | $36,901 - $89,350 | $89,351 - $186,350 | $186,351 - $405,100 | $405,101 - $406,750 | $406,751+ |
| Married Filing Jointly | $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+ |
| Married Filing Separately | $0 - $9,075 | $9,076 - $36,900 | $36,901 - $74,425 | $74,426 - $113,425 | $113,426 - $202,550 | $202,551 - $228,800 | $228,801+ |
| Head of Household | $0 - $12,950 | $12,951 - $49,400 | $49,401 - $127,550 | $127,551 - $206,600 | $206,601 - $405,100 | $405,101 - $432,200 | $432,201+ |
These brackets apply to taxable income after deductions and the standard deduction. The rates are progressive, meaning each higher bracket is applied to the income within that range.
Standard Deduction
The standard deduction amounts for 2014 were:
- Single: $6,300
- Married Filing Jointly: $12,600
- Married Filing Separately: $6,300
- Head of Household: $9,300
The standard deduction reduces your taxable income, which can lower your tax liability. For example, if you're single with $50,000 in taxable income, subtracting the $6,300 standard deduction gives you $43,700 in taxable income.
Note: The standard deduction is an amount that reduces your taxable income. It cannot be used in conjunction with itemized deductions.
Example Calculation
Let's calculate the tax for a single filer with $50,000 in taxable income:
- Subtract the standard deduction: $50,000 - $6,300 = $43,700 taxable income
- Apply the tax brackets:
- $9,075 × 10% = $907.50
- ($36,900 - $9,075) × 15% = $3,826.25
- ($43,700 - $36,900) × 25% = $1,675
- Total tax owed: $907.50 + $3,826.25 + $1,675 = $6,408.75
- Effective tax rate: ($6,408.75 / $50,000) × 100 = 12.82%
This example shows that a single filer with $50,000 in taxable income would owe approximately $6,408.75 in federal income tax, for an effective rate of 12.82%.