2014 Federal Tax Calculator
'/%3E%3Ccircle cx='48' cy='39' r='19' fill='%23f2c9a5'/%3E%3Cpath d='M27 35c3-16 39-17 42 2-8-8-27-9-42-2z' fill='%23374151'/%3E%3Cpath d='M21 86c5-24 49-28 56 0z' fill='%232563eb'/%3E%3Ccircle cx='41' cy='41' r='2' fill='%23111827'/%3E%3Ccircle cx='55' cy='41' r='2' fill='%23111827'/%3E%3Cpath d='M42 52c4 3 9 3 13 0' stroke='%2392400e' stroke-width='3' fill='none' stroke-linecap='round'/%3E%3C/svg%3E)
Reviewed by Calculator Editorial Team
Use this 2014 Federal Tax Calculator to estimate your federal income tax liability based on your taxable income and filing status. The calculator follows the 2014 tax rates and brackets established by the Internal Revenue Service (IRS).
How to Use This Calculator
To calculate your estimated federal income tax for 2014:
- Enter your total taxable income for the year in the "Taxable Income" field.
- Select your filing status from the dropdown menu.
- Click the "Calculate" button to see your estimated federal tax.
The calculator will display your estimated federal income tax based on the 2014 tax brackets and rates. The result is an estimate and may differ from your actual tax liability after considering state taxes, deductions, and credits.
2014 Federal Tax Brackets
The 2014 federal income tax brackets are progressive, meaning the tax rate increases as your income increases. The brackets vary by filing status:
2014 Federal Income Tax Rates
| Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | $0 - $8,925 | $0 - $17,850 | $0 - $8,925 | $0 - $12,750 |
| 15% | $8,926 - $36,250 | $17,851 - $72,500 | $8,926 - $36,250 | $12,751 - $47,300 |
| 25% | $36,251 - $87,850 | $72,501 - $146,400 | $36,251 - $87,850 | $47,301 - $129,650 |
| 28% | $87,851 - $183,350 | $146,401 - $228,850 | $87,851 - $183,350 | $129,651 - $212,550 |
| 33% | $183,351 - $398,350 | $228,851 - $405,600 | $183,351 - $398,350 | $212,551 - $425,100 |
| 35% | $398,351 - $400,000 | $405,601 - $457,700 | $398,351 - $400,000 | $425,101 - $448,850 |
| 39.6% | $400,001+ | $457,701+ | $400,001+ | $448,851+ |
The tax brackets are based on the IRS tax tables for 2014. The rates apply to taxable income after deductions but before credits.
Filing Status Options
Your filing status determines which tax brackets and rates apply to your income. The common filing status options are:
- Single - For individuals who were not married or who filed as "married filing separately."
- Married Filing Jointly - For married couples who file their taxes together.
- Married Filing Separately - For married couples who choose to file their taxes separately.
- Head of Household - For individuals who qualify as the head of a household, such as unmarried parents with dependent children.
Select the filing status that matches your situation when using the calculator.
Standard Deduction Amounts
The standard deduction reduces your taxable income by a fixed amount. For 2014, the standard deduction amounts were:
2014 Standard Deduction Amounts
| Filing Status | Standard Deduction |
|---|---|
| Single | $6,300 |
| Married Filing Jointly | $12,600 |
| Married Filing Separately | $6,300 |
| Head of Household | $9,300 |
If you claim the standard deduction, subtract the amount from your total income to determine your taxable income.
Example Calculation
Let's calculate the federal income tax for a single filer with $50,000 in taxable income.
Example Scenario
Taxable Income: $50,000
Filing Status: Single
The 2014 tax brackets for single filers are:
- 10% on the first $8,925
- 15% on the next $27,325 ($8,926 - $36,250)
- 25% on the remaining $8,750 ($36,251 - $45,000)
Calculation:
- $8,925 × 10% = $892.50
- $27,325 × 15% = $4,100.75
- $8,750 × 25% = $2,187.50
Total estimated federal income tax: $892.50 + $4,100.75 + $2,187.50 = $7,180.75
This example shows how the progressive tax system applies to your income. Higher-income individuals pay a larger percentage of their income in taxes.
Frequently Asked Questions
- What is the difference between taxable income and gross income?
- Taxable income is your gross income minus deductions, exemptions, and other adjustments. It represents the portion of your income that is subject to federal income tax.
- How do I determine my filing status?
- Your filing status is determined by your marital status and whether you file jointly or separately. Consult the IRS guidelines or tax professional if you're unsure.
- Does this calculator account for state taxes?
- No, this calculator only estimates federal income tax. State taxes vary by location and are not included in the calculation.
- What if my income is below the standard deduction?
- If your income is below the standard deduction amount for your filing status, you may want to itemize deductions instead of claiming the standard deduction.
- Is this calculator official or certified by the IRS?
- This calculator is based on the 2014 IRS tax tables and provides an estimate. For official tax information, consult the IRS website or a tax professional.