Tax Calculator for 2024

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2024 Tax Calculator

Estimate your federal income tax liability for 2024 based on your filing status and income.

Single Married Filing Jointly Married Filing Separately Head of Household

Estimated 2024 Tax Liability

$0.00

Understanding Your 2024 Tax Liability

This calculator provides an estimation of your federal income tax for the 2024 tax year. It utilizes the 2024 tax brackets and standard deduction amounts. Keep in mind that this is a simplified model and does not account for all potential tax credits, deductions, or complexities in individual tax situations. For precise tax advice, please consult a qualified tax professional.

How the Calculation Works

The calculation follows these general steps:

  1. Determine Taxable Income: This is calculated by subtracting your deductions (either the standard deduction for your filing status or your itemized deductions, whichever is greater) from your gross income.
    Taxable Income = Gross Income - Deductions
  2. Apply Tax Brackets: Your taxable income is then taxed at progressive rates according to the 2024 federal income tax brackets specific to your filing status. Each portion of your income within a bracket is taxed at that bracket's rate.

2024 Tax Brackets and Standard Deductions

The following are the 2024 tax brackets and standard deduction amounts. The calculator uses these 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:

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 $487,850
  • 35% on income between $487,851 and $731,200
  • 37% on income over $731,200
Married Filing Separately:
  • 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

Use Cases for This Calculator

  • Financial Planning: Estimate your tax burden to better budget and save for taxes throughout the year.
  • Income Projections: Understand the net income you might receive after taxes when considering new job offers or salary increases.
  • Deduction Analysis: See how different deduction amounts could impact your final tax liability.
  • Tax Simulation: Quickly compare the potential tax outcomes for different filing statuses.

Disclaimer: Tax laws are complex and subject to change. This calculator is for informational purposes only and should not be considered tax advice. Consult with a tax professional for personalized guidance.

function calculateTax() { var income = parseFloat(document.getElementById("income").value); var filingStatus = document.getElementById("filingStatus").value; var deductions = parseFloat(document.getElementById("deductions").value); var taxResultElement = document.getElementById("taxResult"); if (isNaN(income) || income < 0) { alert("Please enter a valid gross annual income."); return; } if (isNaN(deductions) || deductions < 0) { alert("Please enter valid deductions."); return; } var standardDeductions = { "single": 14600, "married_filing_jointly": 29200, "married_filing_separately": 14600, "head_of_household": 21900 }; var effectiveDeductions = Math.max(deductions, standardDeductions[filingStatus]); var taxableIncome = income – effectiveDeductions; if (taxableIncome < 0) { taxableIncome = 0; } var tax = 0; if (filingStatus === "single") { if (taxableIncome <= 11600) { tax = taxableIncome * 0.10; } else if (taxableIncome <= 47150) { tax = (11600 * 0.10) + (taxableIncome – 11600) * 0.12; } else if (taxableIncome <= 100525) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (taxableIncome – 47150) * 0.22; } else if (taxableIncome <= 191950) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (taxableIncome – 100525) * 0.24; } else if (taxableIncome <= 243725) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (taxableIncome – 191950) * 0.32; } else if (taxableIncome <= 609350) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (243725 – 191950) * 0.32 + (taxableIncome – 243725) * 0.35; } else { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (243725 – 191950) * 0.32 + (609350 – 243725) * 0.35 + (taxableIncome – 609350) * 0.37; } } else if (filingStatus === "married_filing_jointly") { if (taxableIncome <= 23200) { tax = taxableIncome * 0.10; } else if (taxableIncome <= 94300) { tax = (23200 * 0.10) + (taxableIncome – 23200) * 0.12; } else if (taxableIncome <= 201050) { tax = (23200 * 0.10) + (94300 – 23200) * 0.12 + (taxableIncome – 94300) * 0.22; } else if (taxableIncome <= 383900) { tax = (23200 * 0.10) + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (taxableIncome – 201050) * 0.24; } else if (taxableIncome <= 487850) { tax = (23200 * 0.10) + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (383900 – 201050) * 0.24 + (taxableIncome – 383900) * 0.32; } else if (taxableIncome <= 731200) { tax = (23200 * 0.10) + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (383900 – 201050) * 0.24 + (487850 – 383900) * 0.32 + (taxableIncome – 487850) * 0.35; } else { tax = (23200 * 0.10) + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (383900 – 201050) * 0.24 + (487850 – 383900) * 0.32 + (731200 – 487850) * 0.35 + (taxableIncome – 731200) * 0.37; } } else if (filingStatus === "married_filing_separately") { if (taxableIncome <= 11600) { tax = taxableIncome * 0.10; } else if (taxableIncome <= 47150) { tax = (11600 * 0.10) + (taxableIncome – 11600) * 0.12; } else if (taxableIncome <= 100525) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (taxableIncome – 47150) * 0.22; } else if (taxableIncome <= 191950) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (taxableIncome – 100525) * 0.24; } else if (taxableIncome <= 243725) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (taxableIncome – 191950) * 0.32; } else if (taxableIncome <= 365600) { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (243725 – 191950) * 0.32 + (taxableIncome – 243725) * 0.35; } else { tax = (11600 * 0.10) + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (243725 – 191950) * 0.32 + (365600 – 243725) * 0.35 + (taxableIncome – 365600) * 0.37; } } else if (filingStatus === "head_of_household") { if (taxableIncome <= 16550) { tax = taxableIncome * 0.10; } else if (taxableIncome <= 63100) { tax = (16550 * 0.10) + (taxableIncome – 16550) * 0.12; } else if (taxableIncome <= 100500) { tax = (16550 * 0.10) + (63100 – 16550) * 0.12 + (taxableIncome – 63100) * 0.22; } else if (taxableIncome <= 191950) { tax = (16550 * 0.10) + (63100 – 16550) * 0.12 + (100500 – 63100) * 0.22 + (taxableIncome – 100500) * 0.24; } else if (taxableIncome <= 243700) { tax = (16550 * 0.10) + (63100 – 16550) * 0.12 + (100500 – 63100) * 0.22 + (191950 – 100500) * 0.24 + (taxableIncome – 191950) * 0.32; } else if (taxableIncome <= 609350) { tax = (16550 * 0.10) + (63100 – 16550) * 0.12 + (100500 – 63100) * 0.22 + (191950 – 100500) * 0.24 + (243700 – 191950) * 0.32 + (taxableIncome – 243700) * 0.35; } else { tax = (16550 * 0.10) + (63100 – 16550) * 0.12 + (100500 – 63100) * 0.22 + (191950 – 100500) * 0.24 + (243700 – 191950) * 0.32 + (609350 – 243700) * 0.35 + (taxableIncome – 609350) * 0.37; } } taxResultElement.innerHTML = "$" + tax.toFixed(2) + ""; }

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