IRS Updates 2014 Tax Benefits for Inflation

By David S. Chang

images

The IRS recently released its annual inflation adjustments for 2014. Here are a couple of important excerpts:

  • The top marginal tax rate of 39.6 percent will be applied to single filers whose income exceeds $406,750 ($457,600 for married taxpayers filing a joint return.)
  • The Alternative Minimum Tax exemption amount for 2014 is $52,800 ($82,100 for married couples filing jointly).
  • Estates of decedents who die during 2014 will have an estate tax exclusion amount of $5,340,000, up from $5,250,000 for 2013.

For more information about annual adjustments, ask your tax professional or download Revenue Procedure 2013-35.

Posted in

David S. Chang

Award-Winning Entrepreneur, Wealth Manager and CEO | Chief Editor, Author, Keynote Speaker, Consultant ArtofThinkingSmart.com | Political Consultant | Army Officer National Guard | Living To Fulfill Needs, Solve Problems, and Live Passionately!

Leave a Comment

You must be logged in to post a comment.

Categories

FREE Download!

5 Awesome Tips to SMART Productivity

A Step-by-Step Process on How to be More Effective and Efficient at Life!

Top Financial Advisor Blogs And Bloggers – Rankings From Nerd’s Eye View | Kitces.com

Get ATS Updates in Your Inbox!

Get the latest from the ATS blog delivered right to your inbox!

Contact Us

  • This field is for validation purposes and should be left unchanged.