Estimate your federal income tax liability for 2024 based on your filing status and taxable income.
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Your Estimated Federal Tax: $0.00
Understanding 2024 Federal Income Tax
Calculating your federal income tax involves understanding tax brackets and your filing status. The U.S. uses a progressive tax system, meaning higher portions of your income are taxed at higher rates. For the 2024 tax year, the IRS has updated tax brackets and standard deduction amounts.
How Federal Income Tax is Calculated:
The basic formula is:
Taxable Income – (Deductions & Exemptions) = Adjusted Gross Income (AGI) AGI – Standard Deduction (or Itemized Deductions) = Your Taxable Income Your Taxable Income is then applied to the relevant tax brackets for your filing status to determine your tax liability.
2024 Tax Brackets and Standard Deductions:
The following brackets and standard deductions are estimates for the 2024 tax year (these are typically released in late fall of the preceding year and can be subject to minor adjustments). This calculator uses the most commonly anticipated figures.
Standard Deductions for 2024:
Single: $14,600
Married Filing Jointly: $29,200
Married Filing Separately: $14,600
Head of Household: $21,900
2024 Federal Income Tax Brackets (Anticipated):
Single Filers:
10% on income up to $11,600
12% on income between $11,601 and $47,150
22% on income between $47,151 and $100,525
24% on income between $100,526 and $191,950
32% on income between $191,951 and $243,725
35% on income between $243,726 and $609,350
37% on income over $609,350
Married Filing Jointly:
10% on income up to $23,200
12% on income between $23,201 and $94,300
22% on income between $94,301 and $201,050
24% on income between $201,051 and $383,900
32% on income between $383,901 and $487,450
35% on income between $487,451 and $731,200
37% on income over $731,200
Married Filing Separately: (Same brackets as Single)
10% on income up to $11,600
12% on income between $11,601 and $47,150
22% on income between $47,151 and $100,525
24% on income between $100,526 and $191,950
32% on income between $191,951 and $243,725
35% on income between $243,726 and $365,600
37% on income over $365,600
Head of Household:
10% on income up to $16,550
12% on income between $16,551 and $63,100
22% on income between $63,101 and $100,500
24% on income between $100,501 and $191,950
32% on income between $191,951 and $243,700
35% on income between $243,701 and $609,350
37% on income over $609,350
Disclaimer: This calculator provides an *estimate* based on anticipated 2024 tax figures. Actual tax laws and figures can change. This tool does not account for all potential deductions, credits, or special tax situations. For precise tax advice, consult a qualified tax professional.