Calculate your federal income tax liability, effective tax rate, and marginal tax rate based on your income and filing status.
Standard Deduction: $14,600
The United States uses a progressive tax system, meaning your income is taxed at different rates as it increases through various tax brackets. This calculator helps you understand your tax liability based on 2024 federal tax brackets and your filing status.
Your effective tax rate (the average rate you pay) is typically lower than your marginal tax rate (the rate on your last dollar earned) because lower portions of your income are taxed at lower rates.
For unmarried individuals, legally separated, or divorced taxpayers. Standard deduction: $14,600.
For married couples filing one tax return together. Typically provides the most tax benefits. Standard deduction: $29,200.
For married couples who choose to file separate returns. May be beneficial in specific situations. Standard deduction: $14,600.
For unmarried individuals who pay more than half the costs of maintaining a home for a qualifying person. Standard deduction: $21,900.
Your total income before any deductions or taxes. Includes wages, salaries, bonuses, investment income, and other earnings.
A fixed dollar amount that reduces your taxable income. The amount varies by filing status. Most taxpayers use the standard deduction rather than itemizing.
Your gross income minus deductions. This is the amount used to calculate your actual tax liability.
The average rate at which your income is taxed, calculated by dividing your total tax by your gross income. This is typically lower than your marginal rate.
The tax rate applied to your last dollar of income. This is the rate you'll pay on any additional income you earn.
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