Income Tax Calculator

Estimate your federal income tax based on 2024 tax brackets.

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Deduction Type

Result

Fill in the fields above, then press Calculate.

The Income Tax Calculator estimates your federal income tax based on the 2024 tax brackets and deductions. It shows your effective and marginal tax rates, helping you understand your tax liability and plan for withholding and estimated payments.

Enter your gross annual income, select your filing status, and choose between standard or itemized deductions. If itemized, enter your total deduction amount. Click Calculate to see your estimated federal income tax, effective rate, marginal rate, and a detailed bracket breakdown.

Examples

Single Filer, $75,000

Gross income $75,000 minus $14,600 standard deduction = $60,400 taxable income. Tax: $1,160 (10%) + $4,266 (12%) + $2,915 (22%) = $8,341 federal tax. Effective rate: 11.12%.

Married Filing Jointly, $150,000

Gross income $150,000 minus $29,200 standard deduction = $120,800 taxable income. Tax calculated progressively across the 10%, 12%, and 22% brackets.

Frequently Asked Questions

What is the difference between marginal and effective tax rate?
Your marginal rate is the rate on your last dollar of income (your highest bracket). Your effective rate is the average rate across all your income: total tax divided by gross income. The effective rate is always lower than the marginal rate.
Should I take the standard or itemized deduction?
Take whichever is larger. Most taxpayers benefit from the standard deduction. Itemize if your mortgage interest, state/local taxes (up to $10,000), charitable donations, and other deductions exceed the standard deduction amount.
Does this include state taxes?
This calculator currently estimates federal income tax only. State income tax varies widely: some states have no income tax, while others have rates up to 13.3%.
Are these the 2024 tax brackets?
Yes. This calculator uses the 2024 federal income tax brackets and standard deduction amounts as published by the IRS.
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Quick Tips

  • •Understand your marginal rate—the rate on your next dollar of income, relevant for financial decisions.
  • •Itemize deductions if they exceed the standard deduction (mortgage interest, property taxes, charitable donations).
  • •Maximize retirement contributions (401k, IRA) which reduce your taxable income and provide immediate tax savings.
  • •Plan estimated tax payments quarterly if you are self-employed or have significant non-wage income.
  • •Consult a tax professional for complex situations involving multiple income sources, credits, or capital gains.