Estimate your 2024 US federal income tax liability based on your annual income, filing status, and deductions. Understand your effective tax rate and take-home pay at a glance.
Taxable Income—
Total Federal Tax—
Effective Tax Rate—
After-Tax Income—
This calculator provides estimates and is for informational purposes only. Consult a tax professional for personalized advice.
How It Works
The US federal income tax uses a progressive bracket system. Your income is taxed at increasing rates as it moves through each bracket—only the portion within a bracket is taxed at that bracket's rate, not your entire income. First, your standard or itemized deduction is subtracted to determine taxable income. Then, the tax is calculated bracket by bracket for your filing status. The effective tax rate is your total tax divided by gross income and is typically much lower than your highest marginal bracket.
Frequently Asked Questions
What is the difference between marginal and effective tax rate?
Your marginal rate is the rate on the last dollar of income earned, while your effective rate is the average rate across all income. Due to progressive brackets, the effective rate is always lower than the marginal rate.
Should I take the standard deduction or itemize?
Choose whichever is higher. The 2024 standard deduction is $14,600 for single filers and $29,200 for married filing jointly. If your itemized deductions (mortgage interest, state taxes, charitable donations, etc.) exceed this, itemizing saves more.
Does this calculator include state or FICA taxes?
No. This calculator estimates federal income tax only. State income taxes, Social Security (6.2%), and Medicare (1.45%) are additional and vary by location and income level.