Tax Calculator
Estimate your income tax liability using US federal tax brackets for 2024. Calculate effective tax rate and after-tax income.
Estimated Tax
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effective rate
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marginal rate
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after-tax income
Based on 2024 US federal tax brackets. Does not include state taxes or FICA.
What is Tax Calculator?
The Tax Calculator estimates your US federal income tax liability using the current year tax brackets. Enter your gross income, filing status, and deductions to see your effective tax rate, marginal rate, and after-tax take-home pay.
How to use
- 1 Enter your total annual income in the Annual Income field.
- 2 Select your filing status: Single, Married Filing Jointly, or Head of Household.
- 3 Enter your total deductions (the standard deduction is pre-filled based on your filing status).
- 4 Add any other income sources such as freelance or investment income.
- 5 Review your estimated tax, effective rate, marginal rate, and after-tax income.
Formula
Example calculation
A single filer earning $75,000 with the standard deduction of $14,600 has $60,400 in taxable income. Applying 2024 brackets yields roughly $8,600 in federal tax, an effective rate of about 11.5%, and a marginal rate of 22%.
Frequently asked questions
What is the difference between effective and marginal tax rate?
Your marginal rate is the rate applied to your last dollar of income. Your effective rate is total tax divided by total income — it is always lower because lower brackets apply to the first portions of your income.
Does this include state taxes?
No. This calculator covers US federal income tax only. State income tax rates vary widely and are not included in this estimate.
What is the standard deduction for 2024?
For 2024 the standard deduction is $14,600 for single filers, $29,200 for married filing jointly, and $21,900 for head of household.
What are FICA taxes?
FICA taxes include Social Security (6.2% up to the wage base) and Medicare (1.45%). This calculator does not include FICA, so your actual take-home pay will be somewhat lower.
Should I itemize or take the standard deduction?
Itemize only if your qualifying expenses — mortgage interest, state taxes, charitable donations, and so on — exceed the standard deduction for your filing status. Most taxpayers benefit from the standard deduction.