🏛️ Tax Calculator

Income Tax Calculator

Estimate your US federal income tax for 2024. Calculate your effective tax rate, marginal rate, and take-home pay by filing status and income bracket.

Tax Information

2024 US Federal Income Tax

$
$0$1M
$
Estimated Tax Owed (Federal)
$—
2024 US Federal Tax
Take-Home Pay
$—
Effective Tax Rate
—
Marginal Rate
—
Taxable Income
—
Monthly Take-Home
—

Tax Bracket Breakdown

BracketRateIncome in BracketTax
Gross Income—
Pre-tax Deductions—
Standard/Itemized Deduction—
Taxable Income—
Federal Income Tax—
Social Security (6.2%)—
Medicare (1.45%)—
Child Tax Credit—
Annual Take-Home—

About the Income Tax Calculator

This calculator estimates your 2024 US federal income tax based on official IRS tax brackets. It accounts for your filing status, standard or itemized deductions, pre-tax contributions (like 401k and HSA), and the child tax credit. Note: This is an estimate. Your actual tax may vary based on credits, deductions, and state taxes not included here.

FAQ

What is the difference between effective and marginal tax rate?
Marginal rate is the rate applied to your last dollar of income. Effective rate is the overall percentage of income paid as tax. Due to the progressive system, your effective rate is always lower than your marginal rate.
What is the standard deduction for 2024?
For 2024, the standard deduction is $14,600 for single filers, $29,200 for married filing jointly, $21,900 for head of household, and $14,600 for married filing separately.
Does this include state income tax?
No, this calculator only estimates federal income tax. Most states also levy income tax ranging from 0% to over 13%. Add your state tax rate to the federal rate for a more complete picture.
What is the FICA tax?
FICA (Federal Insurance Contributions Act) includes Social Security (6.2% on wages up to $168,600 in 2024) and Medicare (1.45% on all wages, plus 0.9% surtax above $200K for singles).