Tax Bracket Calculator
Find out which federal income tax bracket you fall into for 2024. Calculate your marginal and effective tax rates with standard deductions.
Tax Bracket Summary
Bracket Details
Tax Planning Tips
Understanding Federal Income Tax Brackets
The U.S. federal income tax system uses progressive tax brackets, meaning higher income levels are taxed at higher rates. Understanding your tax bracket helps with financial planning and tax optimization.
2024 Federal Income Tax Brackets
| Tax Rate | Single Filers | Married Filing Jointly | Head of Household |
|---|---|---|---|
| 10% | $0 - $11,600 | $0 - $23,200 | $0 - $16,550 |
| 12% | $11,601 - $47,150 | $23,201 - $94,300 | $16,551 - $63,100 |
| 22% | $47,151 - $100,525 | $94,301 - $201,050 | $63,101 - $100,500 |
| 24% | $100,526 - $191,950 | $201,051 - $383,900 | $100,501 - $191,950 |
| 32% | $191,951 - $243,725 | $383,901 - $487,450 | $191,951 - $243,700 |
| 35% | $243,726 - $609,350 | $487,451 - $731,200 | $243,701 - $609,350 |
| 37% | $609,351+ | $731,201+ | $609,351+ |
Marginal vs. Effective Tax Rates
Marginal Tax Rate
The tax rate applied to your next dollar of income
- Determines your tax bracket
- Highest rate you pay
- Important for tax planning
- Can be misleading for total tax burden
Effective Tax Rate
Total tax divided by total income
- Shows actual tax burden
- Always lower than marginal rate
- Better measure of tax impact
- Useful for comparisons
How Progressive Taxation Works
Progressive taxation means that as your income increases, portions of that income are taxed at higher rates. Only the income within each bracket is taxed at that bracket's rate.
Example: Single Filer with $75,000 Income
$11,600 × 10% = $1,160
$35,550 × 12% = $4,266
$27,850 × 22% = $6,127
Total Tax: $11,553
Effective Rate: 15.4%
Marginal Rate: 22%
Tax Bracket Planning Strategies
Income Deferral
Defer bonuses or income to next year
Use retirement contributions
Time capital gains
Tax Credits
Maximize available credits
Child Tax Credit
Education credits
Deductions
Itemize if beneficial
Charitable contributions
Business expenses
Standard Deductions (2024)
Standard Deduction Amounts
- Single: $14,600
- Married Filing Jointly: $29,200
- Married Filing Separately: $14,600
- Head of Household: $21,900
Additional Amounts
- Age 65+ or Blind: Additional $1,550
- Both 65+ and Blind: Additional $3,100
- Applies to each qualifying person
- Available for all filing statuses
State Tax Considerations
While federal tax brackets are the same nationwide, state income taxes vary significantly. Some states have no income tax, while others have progressive systems similar to federal taxes.
| State | Top Rate | Notes |
|---|---|---|
| California | 13.3% | Progressive, high rates |
| Texas | 0% | No state income tax |
| Florida | 0% | No state income tax |
| New York | 10.9% | Progressive system |
Key Takeaways
- Federal tax brackets range from 10% to 37% for 2024
- Marginal tax rate applies only to income in that bracket
- Effective tax rate shows your actual tax burden
- Standard deductions reduce taxable income
- Tax planning can help optimize your bracket position
- State taxes are additional and vary widely
- Consult a tax professional for personalized advice