What were the tax brackets in 2015?

2015 Federal Income Tax Rates

If your taxable income is over	But not over	The tax is
$0	$9,225	10%
$9,225	$37,450	$922.50 + 15%
$37,450	$90,750	$5,156.25 + 25%
$90,750	$189,300	$18,481.25 + 28%

How much money can you legally make without paying taxes?

Beginning in 2020, the amount you can claim will depend on your income. However, as long as you earned less than $150,473, you’ll be able to claim the maximum amount of $13,229. This means if you’re reporting less than $13,229 in income, you won’t owe federal taxes this year.

What income level requires filing a tax return?

Single: If you are single and under the age of 65, the minimum amount of annual gross income you can make that requires filing a tax return is $12,200. If you’re 65 or older and plan on filing single, that minimum goes up to $13,850.

How can I avoid paying taxes on cash income?

These tips can help you reduce taxes on your income

Invest in Municipal Bonds.
Take Long-Term Capital Gains.
Start a Business.
Max Out Retirement Accounts and Employee Benefits.
Use an HSA.
Claim Tax Credits.
The Bottom Line.

What’s the maximum income tax deduction for 2014?

For 2014, the maximum EITC amount available is $3,304 for taxpayers filing jointly with one child; $5,460 for two children; $6,143 for three or more children and $496 for no children. Child Tax

What was the income tax credit for 2014?

Earned Income Tax Credit. The 2014 maximum Earned Income Tax Credit for singles, heads of households, and joint filers is $496 if the filer has no children (Table 6). For one child the credit is $3,305, two children is $5,460, and three or more children is $6,143.

What is the Top federal income tax rate for 2014?

In 2014, the income limits for all brackets and all filers will be adjusted for inflation and will be as follows (Table 1).[1] The top marginal income tax rate of 39.6 percent will hit taxpayers with an adjusted gross income of $406,751 and higher for single filers and $457,601 and higher for married filers.

What are the income tax brackets for 2014?

Income Tax Brackets and Rates In 2014, the income limits for all brackets and all filers will be adjusted for inflation and will be as follows (Table 1). T The top marginal income tax rate of 39.6 percent will hit taxpayers with an adjusted gross income of $406,751 and higher for single filers and $457,601 and higher for married filers.