• Affordable Care Act health insurance mandate / penalties / exemptions: healthcare.gov  obamacarefacts.com  irs.gov  irs.gov(2)  irs.gov(3)
• 39.6% top tax bracket for individuals over $406,750 and couples over $457,600 plus a 3.8% Net Investment Income Tax (NII) for income over $200K and $250K.
• NII Q&A: http://www.irs.gov/uac/Newsroom/Net-Investment-Income-Tax-FAQs
• 0.9% additional Medicare tax (hospital insurance tax) on wages/earnings in excess of $200,000 for individuals and $250,000 for couples.
• Medicare tax Q&A: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Questions-and-Answers-for-the-Additional-Medicare-Tax
• Threshold for deducting medical expenses 7.5% to 10% for taxpayers under age 65.
• Same-sex married couples now subject to similar IRS filing rules for married heterosexual married couples.
• A new penalty is assessed on your income tax return if you do not have the appropriate medical insurance coverage.
• $5,440,000 lifetime gift tax exclusion for 2014, but rate is now 40% (other provisions may have tax rates of 45%)
• Annual Gift tax exclusion remains unchanged at $14,000.
• "Automatic" Safe Harbor $1,500 Home Office deduction @ 5/sq ft is allowed. (depreciation is not taken) see Rev. Proc. 2013-13 

Last updated: January 29, 2015