📑 Tax Calculator

About This Tax Calculator

This federal income tax calculator estimates your US tax liability using the 2024 tax brackets and standard deductions. Understanding your tax burden helps with financial planning, budgeting, and making informed decisions about retirement contributions and other tax-advantaged strategies.

How to Use This Calculator

1. Annual Income: Enter your gross annual income before any deductions or taxes. This includes wages, salaries, tips, and other taxable income.
2. Filing Status: Select your tax filing status:
   • Single: Unmarried or legally separated
   • Married Filing Jointly: Married couples filing together
   • Head of Household: Unmarried with dependents

2024 Standard Deductions

Single: $14,600
Married Filing Jointly: $29,200
Head of Household: $21,900

2024 Federal Tax Brackets (Single)

10% on income up to $11,600
12% on $11,601 - $47,150
22% on $47,151 - $100,525
24% on $100,526 - $191,950
32% on $191,951 - $243,725
35% on $243,726 - $609,350
37% on income over $609,350

Understanding Your Results

Federal Tax: Your estimated total federal income tax liability.

Effective Rate: Your actual tax rate (total tax ÷ gross income). This is typically lower than your marginal bracket because of progressive taxation.

After-Tax Income: What you keep after federal taxes—your take-home before other deductions like state tax, Social Security, and Medicare.

Note: This calculator provides estimates only. Actual taxes may vary based on deductions, credits, and other factors. Consult a tax professional for personalized advice.