Income Tax Estimator 2024
Estimate your US federal income tax based on current 2024 brackets. Understand your effective rate and after-tax income.
Estimate Your 2024 Federal Tax
Based on 2024 US federal brackets only. Does not include state tax, FICA (7.65%), or credits.
Understanding the 2024 US Tax Brackets
The US uses a progressive tax system — different portions of your income are taxed at different rates. For 2024, single filers pay 10% on income up to $11,600, 12% from $11,601 to $47,150, and so on up to 37% on income above $609,350. The key insight: your entire income is NOT taxed at your top bracket rate.
Marginal Rate vs. Effective Rate
If you earn $65,000 as a single filer, your marginal rate (top bracket) is 22%, but your effective rate is roughly 14%. The effective rate is your actual average — total tax paid divided by total income. This is the number that matters for budgeting and planning.
What This Estimator Does Not Include
This tool calculates federal income tax only. Your total tax burden also includes state income tax (0–13.3% depending on state), FICA payroll taxes (7.65% for employees), and any applicable credits or surcharges. For a complete picture, use IRS tools or consult a tax professional.
Tax Planning Tips
If you're close to a bracket threshold, maxing out pre-tax retirement contributions (401k, IRA, HSA) can reduce your taxable income and potentially drop you into a lower bracket, saving hundreds or thousands in taxes each year.