Usa Tax 2014 Calculator
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Reviewed by Calculator Editorial Team
Calculate your 2014 US federal income tax with this official calculator. The calculator uses the 2014 tax brackets, standard deductions, and tax rates to determine your federal income tax liability.
How to Use This Calculator
To calculate your 2014 US federal income tax:
- Enter your total taxable income in the "Taxable Income" field.
- Select your filing status (Single, Married Filing Jointly, etc.).
- Click "Calculate" to see your estimated federal income tax.
The calculator will display your federal income tax liability based on the 2014 tax brackets and rates. Remember that this is an estimate and your actual tax may vary based on additional factors.
2014 US Federal Tax Brackets
The 2014 US 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+ |
These brackets apply to taxable income after deductions and exemptions. The standard deduction for 2014 was $6,200 for single filers and $12,400 for married filing jointly.
Deductions and Credits
In addition to the standard deduction, you may be eligible for other deductions and credits that can reduce your taxable income or lower your tax bill. Common deductions include:
- Itemized deductions (mortgage interest, state and local taxes, medical expenses, etc.)
- Student loan interest deduction
- Retirement contributions (IRA, 401(k), etc.)
- Charitable contributions
Credits are different from deductions in that they directly reduce the amount of tax you owe. Examples include the Earned Income Tax Credit (EITC) and the Child Tax Credit.
Worked Examples
Example 1: Single Filer with $50,000 Taxable Income
For a single filer with $50,000 taxable income:
- $9,075 at 10% = $907.50
- $36,900 - $9,075 = $27,825 at 15% = $4,173.75
- $50,000 - $36,900 = $13,100 at 25% = $3,275.00
Total tax = $907.50 + $4,173.75 + $3,275.00 = $8,356.25
Example 2: Married Filing Jointly with $100,000 Taxable Income
For a married couple filing jointly with $100,000 taxable income:
- $18,150 at 10% = $1,815.00
- $73,800 - $18,150 = $55,650 at 15% = $8,347.50
- $100,000 - $73,800 = $26,200 at 25% = $6,550.00
Total tax = $1,815.00 + $8,347.50 + $6,550.00 = $16,712.50
Frequently Asked Questions
Is this calculator official?
This calculator uses the official 2014 US federal tax brackets and rates. However, it's an estimate and your actual tax may vary based on additional factors not included in this calculation.
Do I need to pay estimated taxes in 2014?
If you expect to owe $1,000 or more in federal income tax for 2014, you may need to pay estimated taxes throughout the year to avoid penalties.
What if my taxable income is below the standard deduction?
If your taxable income is below the standard deduction, you can claim the standard deduction instead of itemizing deductions, which may reduce your taxable income to zero.