IRS Updates 2014 Tax Benefits for Inflation

By David S. Chang


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.

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David S. Chang

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


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