This calculator provides an estimate of your federal income tax liability for the 2024 tax year. Please note that this is a simplified calculator and does not account for all possible tax deductions, credits, or specific tax situations. Consult a tax professional for personalized advice.
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Estimated Federal Income Tax (2024):
$0.00
Understanding Your 2024 Federal Income Tax
Estimating your federal income tax is a crucial part of financial planning. The U.S. federal income tax system is progressive, meaning that higher income levels are taxed at higher rates. For the 2024 tax year, the IRS provides specific tax brackets and standard deductions that influence your final tax liability.
How the 2024 Tax Calculator Works
This calculator uses the official 2024 federal income tax brackets and standard deduction amounts. The process involves these key steps:
Determining Taxable Income: You provide your total taxable income. This is typically your gross income minus any deductions (like contributions to a traditional IRA, student loan interest, etc.).
Applying Filing Status: Your tax rate depends significantly on your filing status. The main statuses for 2024 are Single, Married Filing Jointly, Married Filing Separately, and Head of Household. Each status has its own set of tax brackets.
Calculating Tax Liability: Your taxable income is placed into the appropriate tax brackets based on your filing status. Each portion of your income falling into a specific bracket is taxed at that bracket's rate. For example, if your taxable income falls into the 22% bracket, only the portion of your income within that bracket is taxed at 22%; income below that is taxed at lower rates.
2024 Federal Income Tax Brackets and Standard Deductions
Below are the estimated tax brackets and standard deductions for the 2024 tax year, which this calculator is based on. These figures are subject to change by the IRS.
Standard Deductions (2024):
Single: $14,600
Married Filing Jointly: $29,200
Married Filing Separately: $14,600
Head of Household: $21,900
Tax Brackets (2024):
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, but with separate income thresholds)
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
Important Considerations
Tax Deductions vs. Standard Deduction: This calculator assumes you are taking the standard deduction. If your itemized deductions (e.g., mortgage interest, state and local taxes up to a limit, medical expenses exceeding a threshold) are greater than the standard deduction for your filing status, you would use those instead, which would lower your taxable income and tax liability. This calculator does NOT account for itemized deductions.
Tax Credits: Tax credits directly reduce your tax liability dollar-for-dollar, unlike deductions which reduce your taxable income. Common credits include the Child Tax Credit, Earned Income Tax Credit, and education credits. This calculator does NOT factor in any tax credits.
Other Income Types: This calculator is for federal income tax. It does not account for capital gains taxes, self-employment taxes, or other specific income tax types.
State Taxes: This calculator does not include state or local income taxes, which vary significantly by location.
Accuracy: Tax laws can be complex and change frequently. For precise tax advice and calculations tailored to your unique financial situation, always consult with a qualified tax professional or refer to official IRS publications.
function calculateTaxes() {
var taxableIncome = parseFloat(document.getElementById("taxableIncome").value);
var filingStatus = document.getElementById("filingStatus").value;
var resultDiv = document.getElementById("result");
var resultValueDiv = document.getElementById("result-value");
if (isNaN(taxableIncome) || taxableIncome < 0) {
alert("Please enter a valid taxable income amount.");
resultDiv.style.display = 'none';
return;
}
var tax = 0;
// Define tax brackets and standard deductions for 2024
var brackets = {
single: [
{ limit: 11600, rate: 0.10 },
{ limit: 47150, rate: 0.12 },
{ limit: 100525, rate: 0.22 },
{ limit: 191950, rate: 0.24 },
{ limit: 243725, rate: 0.32 },
{ limit: 609350, rate: 0.35 },
{ limit: Infinity, rate: 0.37 }
],
"married-filing-jointly": [
{ limit: 23200, rate: 0.10 },
{ limit: 94300, rate: 0.12 },
{ limit: 201050, rate: 0.22 },
{ limit: 383900, rate: 0.24 },
{ limit: 487450, rate: 0.32 },
{ limit: 731200, rate: 0.35 },
{ limit: Infinity, rate: 0.37 }
],
"married-filing-separately": [ // Same as single but higher limits for higher tax liability in reality
{ limit: 11600, rate: 0.10 },
{ limit: 47150, rate: 0.12 },
{ limit: 100525, rate: 0.22 },
{ limit: 191950, rate: 0.24 },
{ limit: 243725, rate: 0.32 },
{ limit: 365600, rate: 0.35 }, // Lower than single MFS
{ limit: Infinity, rate: 0.37 }
],
"head-of-household": [
{ limit: 16550, rate: 0.10 },
{ limit: 63100, rate: 0.12 },
{ limit: 100500, rate: 0.22 },
{ limit: 191950, rate: 0.24 },
{ limit: 243700, rate: 0.32 },
{ limit: 609350, rate: 0.35 },
{ limit: Infinity, rate: 0.37 }
]
};
var currentBrackets = brackets[filingStatus];
var incomeRemaining = taxableIncome;
var previousLimit = 0;
for (var i = 0; i < currentBrackets.length; i++) {
var bracket = currentBrackets[i];
var bracketLimit = bracket.limit;
var rate = bracket.rate;
var taxableInBracket;
if (incomeRemaining 0) {
tax += taxableInBracket * rate;
incomeRemaining -= taxableInBracket;
}
previousLimit = bracketLimit;
if (incomeRemaining <= 0) {
break;
}
}
// Apply standard deduction to taxable income before calculating tax
// This is a simplified approach. In reality, taxable income is already reduced by deductions.
// However, for a direct *estimate* based on provided taxable income, we apply the logic
// as if the provided number *is* the Adjusted Gross Income (AGI) and then subtract
// the standard deduction to get the *actual* taxable income for bracket calculation.
// A more accurate calculator would ask for Gross Income, then list deductions/credits.
// Re-calculating based on the premise that 'taxableIncome' input is actually AGI
// and we need to subtract the standard deduction first.
var standardDeductions = {
"single": 14600,
"married-filing-jointly": 29200,
"married-filing-separately": 14600,
"head-of-household": 21900
};
var actualTaxableIncome = taxableIncome – standardDeductions[filingStatus];
if (actualTaxableIncome < 0) {
actualTaxableIncome = 0; // Taxable income cannot be negative
}
tax = 0; // Reset tax to recalculate with actual taxable income
incomeRemaining = actualTaxableIncome;
previousLimit = 0;
currentBrackets = brackets[filingStatus]; // Ensure we use the correct brackets again
for (var i = 0; i < currentBrackets.length; i++) {
var bracket = currentBrackets[i];
var bracketLimit = bracket.limit;
var rate = bracket.rate;
var taxableInBracket;
if (incomeRemaining 0) {
tax += taxableInBracket * rate;
incomeRemaining -= taxableInBracket;
}
previousLimit = bracketLimit; // Update the previous limit for the next iteration
if (incomeRemaining <= 0) {
break; // Stop if all income has been accounted for
}
}
resultValueDiv.textContent = "$" + tax.toFixed(2);
resultDiv.style.display = 'block';
}