2014 YEAR-END
TAX GUIDE
Transfer Tax Exemptions and Highest Rates



  2011 2012 2013 2014 2015
Gift Tax Exemption $5,000,000 $5,120,000 $5,250,000 $5,340,000 $5,430,000
Estate Tax Exemption $5,000,000 $5,120,000 $5,250,000 $5,340,000 $5,430,000
GST Tax Exemption $5,000,000 $5,120,000 $5,250,000 $5,340,000 $5,430,000
Highest Estate & Gift Tax Rates 35% 35% 40% 40% 40%

*To be indexed for inflation.

Additional Updates:

  • The Annual Gift Tax Exclusion amount is scheduled to remain $14,000 in 2015.
  • The Kiddie Tax thresholds, which apply to unearned income of minor children, are scheduled to increase $50 in 2015 to $1,050 from $1,000.
  • Proposed Transportation Fringe Benefits for employer provided transportation benefits are $250/month for parking and $130/month for transit. (same as 2014)
  • The maximum credit for adoption expenses will increase $210 in 2015 to $13,400.