Tax Calculator

How This Tax Calculator Works

This calculator estimates your 2024 federal income tax using the IRS progressive bracket system. It automatically applies the standard deduction for your filing status, then calculates tax on your remaining taxable income through each bracket.

Important: This is an estimate for educational purposes. It does not account for credits, deductions beyond the standard deduction, self-employment tax, state taxes, or other individual tax situations. For accurate tax planning, consult a licensed CPA or tax professional.

How US Progressive Tax Brackets Work

The US uses a progressive (marginal) tax system. You do not pay your top bracket rate on your entire income — only on the income within each bracket. A married couple earning $100,000 in 2024 pays:

Bracket	Income Range	Rate	Tax
10%	$0 – $23,200	10%	$2,320
12%	$23,201 – $70,800 (after $29,200 deduction)	12%	~$5,712
Total	–	–	~$8,032

2024 Standard Deductions

Filing Status	Standard Deduction
Single	$14,600
Married Filing Jointly	$29,200
Head of Household	$21,900

Frequently Asked Questions

The marginal tax rate is the rate applied to your last dollar of income — the highest bracket you reach. The effective tax rate is your total tax divided by total income — a lower blended rate. Understanding this distinction is crucial: moving into a higher bracket does NOT mean all your income is taxed at that higher rate.

Take whichever is higher. In 2024, most taxpayers benefit from the standard deduction ($14,600 single, $29,200 married), since itemized deductions must exceed that threshold to provide any additional benefit. Itemizing makes sense primarily if you have large mortgage interest, significant charitable contributions, or high state/local taxes.

This calculator estimates federal income tax only. It excludes: FICA (Social Security and Medicare taxes, 7.65%), state income taxes (varies by state), tax credits (child tax credit, earned income credit, education credits), investment income taxes, AMT (Alternative Minimum Tax), and self-employment taxes.

For 2024, the standard deduction is $14,600 for single filers, $29,200 for married filing jointly, and $21,900 for head of household. These amounts are adjusted annually for inflation by the IRS.