Tax Calculator
Estimate your US federal income tax using 2024 tax brackets.
Gross income ($)
Deductions ($)
Federal tax
$8,341.00
Effective rate
13.8%
Marginal rate
22%
After-tax income
$66,659.00
Bracket breakdown
$0 – $11,600 @ 10%$1,160.00
$11,600 – $47,150 @ 12%$4,266.00
$47,150 – $100,525 @ 22%$2,915.00
Where your income goes
Federal income tax
$8,341.00Take-home pay
$66,659.00Note: does not include FICA, state, or local taxes.
How tax brackets actually work
The US uses a progressive tax system — you never pay a higher rate on income that falls in a lower bracket. Think of it as filling buckets: each bucket has its own rate, and only fills to its limit before the overflow spills into the next one.
Up to $11,60010%
Up to $47,15012%
Up to $100,52522%
Up to $191,95024%
Up to $243,72532%
Up to $609,35035%
● Highlighted brackets apply at your current income level.
Filing status comparison
Your filing status determines your standard deduction and bracket thresholds. Tap to compare.
Standard deduction
$14,600
Taxable income
$60,400
Federal tax
$8,341
Effective rate
13.8%
Standard vs. itemized deductions
You can take whichever is larger — most taxpayers use the standard deduction since the 2017 Tax Cuts and Jobs Act nearly doubled it.
✓ Standard deduction
Fixed amount based on filing status. No receipts needed. Automatically applied if you don't itemize.
Single: $14,600 · MFJ: $29,200
≡ Itemized deductions
Sum of eligible expenses: mortgage interest, SALT (capped at $10k), medical costs over 7.5% AGI, charitable gifts.
Worth it only if total exceeds standard amount
Capital gains tax rates (2024)
Long-term gains (assets held 1+ year) qualify for preferential rates below. Short-term gains are taxed as ordinary income at your marginal rate (22%).
0%
Up to $47,025
15%
$47,025 – $518,900
20%
Over $518,900
💡 Holding an asset for at least 1 year before selling can reduce your rate from 22% (your current marginal rate) to potentially 0–15%.
FICA & self-employment taxes
Federal income tax is only part of the picture. Most workers also owe FICA — Social Security and Medicare — on top of it.
💡 Self-employed? You pay both halves of FICA (15.3%), but you can deduct half of SE tax from your gross income before calculating federal tax.
Common tax credits
Credits reduce your tax bill dollar-for-dollar — far more valuable than deductions. Some are even refundable, meaning you get money back if the credit exceeds what you owe.
The Child Tax Credit offers up to $2,000 per qualifying child under 17, with up to $1,700 refundable through the Additional Child Tax Credit. It begins phasing out above $200,000 of income (single filers). For education costs, the American Opportunity Credit covers up to $2,500 per year for the first four years of higher education — 40% of it is refundable. Once you're past those four years, the Lifetime Learning Credit takes over with up to $2,000 for any post-secondary coursework, though it is not refundable.
Lower and moderate earners should look closely at the Earned Income Tax Credit (EITC), which can be worth up to $7,830 depending on income and family size — and is fully refundable, making it one of the most valuable credits available. If you're buying a new electric vehicle, the Clean Vehicle Credit provides up to $7,500, subject to income limits and MSRP caps on the vehicle. Finally, homeowners investing in solar panels, wind turbines, or geothermal systems can claim the Residential Clean Energy Credit at 30% of the installation cost — with no dollar cap.
Lower and moderate earners should look closely at the Earned Income Tax Credit (EITC), which can be worth up to $7,830 depending on income and family size — and is fully refundable, making it one of the most valuable credits available. If you're buying a new electric vehicle, the Clean Vehicle Credit provides up to $7,500, subject to income limits and MSRP caps on the vehicle. Finally, homeowners investing in solar panels, wind turbines, or geothermal systems can claim the Residential Clean Energy Credit at 30% of the installation cost — with no dollar cap.
Ways to reduce your tax bill
Lowering taxable income is legal and encouraged — here are the most impactful strategies for 2024.
📦
Maximize your 401(k)
Contributing up to $23,000 (2024 limit) pre-tax reduces your taxable income dollar-for-dollar — one of the easiest ways to lower your bracket.
🏥
Use an HSA
Health Savings Account contributions ($4,150 single / $8,300 family) are triple tax-advantaged: deductible, tax-free growth, and tax-free withdrawals for medical costs.
🎁
Charitable deductions
Donating appreciated assets (stocks, real estate) avoids capital gains tax and gives you a deduction at full market value.
💼
Tax-loss harvesting
Selling investments at a loss offsets capital gains. Up to $3,000 in excess losses can also offset ordinary income each year.
🏦
Traditional IRA
Contribute up to $7,000 ($8,000 if 50+) to a traditional IRA for a potential deduction, depending on income and workplace plan coverage.
📅
Bunch deductions
Combine two years of charitable gifts, medical expenses, or other costs into one year to clear the standard deduction threshold and itemize.
State income tax overview
Federal tax is just one layer. Your state adds another — from 0% to over 13%. Local city taxes may apply on top.
No income tax
AK, FL, NV, NH, SD, TN, TX, WA, WY
Under 4%
AZ (2.5%), IN (3.15%), PA (3.07%), ND (2.5%)
4% – 7%
CO (4.4%), IL (4.95%), GA (5.49%), NC (4.75%)
Over 7%
CA (up to 13.3%), HI (up to 11%), NJ (up to 10.75%)
Rates shown are approximate top marginal rates for 2024.
2024 Federal tax brackets (single filers)
Source: IRS Revenue Procedure 2023-34. Brackets adjust annually for inflation.
Key tax deadlines (2025)
Mark these dates for the 2024 tax year filing season.
Jan 15
Q4 estimated tax due
For self-employed / investors with withholding gaps.
Jan 31
W-2 & 1099 forms due
Employers must send these to employees by this date.
Apr 15
Tax return deadline
File your 2024 return or extension. IRA contributions also due.
Apr 15
Q1 estimated tax due
First estimated payment for the 2025 tax year.
Jun 16
Q2 estimated tax due
Second estimated payment for 2025.
Oct 15
Extended return deadline
Last day to file if you requested a 6-month extension.
Historical top marginal rates
The current 37% top rate is near modern lows — rates reached 94% during WWII. The top rate has been cut dramatically since the 1960s.
1913First federal income tax
1944WWII wartime peak
1964Pre-Kennedy-cut era
1982Reagan era begins
1988Reagan tax reform low
2003Bush tax cuts
2024Current top rate
Frequently asked questions
What this tool does
Estimates your US federal income tax using 2024 tax brackets. The US uses a progressive system — each bracket rate only applies to the income within that bracket range, not your total income.
Input fields explained
Gross income
Your total annual pre-tax income from all sources: salary, freelance, investments, etc.
Deductions
Amount subtracted from gross income before taxes are calculated. The 2024 standard deduction is $14,600 (single) or $29,200 (married filing jointly). Itemize only if your deductions exceed the standard.
💡 Tips & context
→Your "marginal tax rate" is the rate on your last dollar earned — not your effective rate.
→Effective rate = total tax ÷ total income. This is almost always lower than your marginal rate.
Formula / How it works
Uses 2024 US federal tax brackets. Progressive system — each bracket only applies to income within that range.