Income Tax Calculator | US 2024
Estimate your income tax based on US federal tax brackets (2024). Calculate effective tax rate.
Using 2024 IRS federal income tax brackets from IRS.gov. State taxes not included.
What Is the Income Tax Calculator | US 2024?
The Federal Income Tax Calculator uses 2024 IRS tax brackets and rates sourced from IRS.gov to estimate your federal income tax liability. Enter your W-2 wages and any other income, select your filing status (Single, Married Filing Jointly, Married Filing Separately, or Head of Household), and choose standard or itemized deductions. The calculator applies all 7 tax brackets correctly to your taxable income, adds FICA (Social Security + Medicare) payroll taxes, and shows your effective rate, marginal rate, and estimated take-home pay.
- ›2024 brackets from IRS.gov: 10%, 12%, 22%, 24%, 32%, 35%, 37%
- ›Standard deduction applied before bracket calculation: $14,600 (single), $29,200 (MFJ)
- ›FICA: 6.2% SS on first $168,600 wages + 1.45% Medicare on all wages
- ›Additional 0.9% Medicare surtax on wages over $200,000 (single) or $250,000 (MFJ)
- ›Marginal rate ≠ effective rate, only the last dollars are taxed at the highest rate
Formula
2024 Federal Tax, Key Figures
Standard Ded.
Single $14,600 | MFJ $29,200 | HoH $21,900
Brackets
10/12/22/24/32/35/37%, 7 brackets
FICA SS
6.2% on wages up to $168,600
FICA Medicare
1.45% + 0.9% additional over threshold
Effective Rate
Federal tax / gross income × 100%
Marginal Rate
Rate on the last dollar of taxable income
How to Use
- 1Enter your total W-2/wages income in the first field
- 2Add any other income (interest, freelance, etc.) in the second field
- 3Select your filing status: Single, MFJ, MFS, or Head of Household
- 4Choose Standard deduction (pre-filled with 2024 IRS amounts) or Itemized
- 5Click Calculate Tax to see federal tax, FICA, effective rate, and take-home pay
- 6The bracket breakdown shows exactly how much tax is paid at each rate
Example Calculation
Single filer, $75,000 wages, standard deduction:
Standard deduction: −$14,600
Taxable income: $60,400
10% on $11,600: $1,160
12% on $35,550: $4,266
22% on $13,250: $2,915
Federal tax: $8,341
Effective rate: 11.1% (marginal: 22%)
FICA on $75,000:
Medicare: 1.45% × $75,000 = $1,088
Total FICA: $5,738
Total tax burden: $14,079 (18.8% of gross)
Marginal Rate vs Effective Rate
Many taxpayers confuse their marginal rate (the highest bracket they touch) with what they actually pay. In the example above, 22% is the marginal rate, but you pay 22% only on the last $13,250, not on all $60,400. The effective rate (11.1%) is the average rate across all income. Understanding this distinction prevents drastically overestimating your tax bill.
Understanding Income Tax | US 2024
2024 Federal Income Tax Brackets
| Rate | Single | Married Filing Jointly | Head of Household | MFS |
|---|---|---|---|---|
| 10% | $0–$11,600 | $0–$23,200 | $0–$16,550 | $0–$11,600 |
| 12% | $11,601–$47,150 | $23,201–$94,300 | $16,551–$63,100 | $11,601–$47,150 |
| 22% | $47,151–$100,525 | $94,301–$201,050 | $63,101–$100,500 | $47,151–$100,525 |
| 24% | $100,526–$191,950 | $201,051–$383,900 | $100,501–$191,950 | $100,526–$191,950 |
| 32% | $191,951–$243,725 | $383,901–$487,450 | $191,951–$243,700 | $191,951–$243,725 |
| 35% | $243,726–$609,350 | $487,451–$731,200 | $243,701–$609,350 | $243,726–$365,600 |
| 37% | Over $609,350 | Over $731,200 | Over $609,350 | Over $365,600 |
Source: IRS.gov, Rev. Proc. 2023-34 (2024 tax year)
Frequently Asked Questions
What is the difference between marginal and effective tax rate?
Example: $75,000 single filer pays 10% on the first $11,600, 12% on the next $35,550, and 22% on the rest. Marginal rate = 22%, but effective rate ≈ 11%.
- ›Marginal rate: used for planning (what does earning $1 more cost me?)
- ›Effective rate: reflects actual tax burden on total income
- ›Getting a raise rarely lowers your take-home, only that extra income is taxed more
- ›The US system is progressive: higher incomes face higher marginal rates
Should I take the standard deduction or itemize?
- ›About 90% of filers now take the standard deduction (post-2018 TCJA)
- ›Itemizable: mortgage interest, SALT (capped $10,000), charity, large medical bills
- ›If you own a home with a large mortgage, itemizing often exceeds the standard deduction
- ›Married couples: both must choose the same method (can't split)
What is FICA and who pays it?
- ›Social Security wage base 2024: $168,600 (indexed annually)
- ›Medicare: 1.45% all wages + 0.9% additional over $200K/$250K threshold
- ›Self-employed pay both employee and employer portions: 15.3% total
- ›FICA is separate from federal income tax, shown as separate lines on W-2
What is the difference between the four filing statuses?
- ›MFJ: widest brackets and largest standard deduction ($29,200)
- ›HoH: better than Single for single parents, $21,900 standard deduction
- ›MFS: usually worse than MFJ; can't claim education credits or Roth IRA
- ›Divorce/separation: your status on Dec 31 determines your filing status for the year
Are capital gains taxed like ordinary income?
- ›Long-term 0% rate: taxable income up to $47,025 (single 2024)
- ›Long-term 15% rate: $47,025–$518,900 (single)
- ›Long-term 20% rate: above $518,900 (single)
- ›Net Investment Income Tax (NIIT): additional 3.8% on investment income over $200K
Does this calculator include state income taxes?
- ›No state income tax: TX, FL, NV, WA, WY, AK, SD, TN, NH (interest/dividends only)
- ›Highest rates: CA 13.3%, HI 11%, NJ 10.75%, NY 10.9%
- ›Most states also offer a standard deduction, though typically smaller than federal
- ›Some states don't conform to federal AGI, they have their own deduction rules
Is this tax calculator free?
Yes, completely free with no registration required. All calculations run locally in your browser.