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Tax Bracket Calculator

Use this calculator to estimate your US federal income tax for 2024. Enter your annual income and filing status to see your effective tax rate, marginal tax rate, total tax owed, and take-home pay based on progressive tax brackets.

How to Use

1 Enter your total annual gross income.
2 Select your IRS filing status (Single, Married Filing Jointly, or Head of Household).
3 View your total tax, effective and marginal rates, and take-home pay.

Formula

2024 US federal tax brackets applied progressively 2024 US federal tax brackets applied progressively
Total Tax Σ (income in bracket × bracket rate)
Effective Tax Rate (total_tax / annual_income) × 100
Take Home Pay annual_income − total_tax

Single Filer Earning $75,000

A single filer earning $75,000 in 2024 falls into the 22% marginal bracket. Tax is calculated progressively: 10% on the first $11,600, 12% on $11,601–$47,150, and 22% on $47,151–$75,000. Total tax ≈ $11,808, effective rate ≈ 15.7%, take-home ≈ $63,192.

Why It Matters

Understanding your tax bracket helps you make informed financial decisions about retirement contributions, deductions, and income planning. Knowing your marginal rate helps evaluate the tax impact of additional income or deductions.

Who Uses This Calculator?

  • • People comparing loan, mortgage, salary, savings, tax, or investment scenarios before making a money decision.
  • • Homeowners, borrowers, employees, freelancers, and small business owners who need fast estimates without a spreadsheet.
  • • Anyone who wants to understand the inputs, formula, and tradeoffs behind a financial result.

Frequently Asked Questions

What is a marginal tax rate?
Your marginal tax rate is the rate you pay on your last dollar of income — the highest tax bracket your income falls into. Only income above that bracket threshold is taxed at that rate.
What is an effective tax rate?
Your effective tax rate is the average rate you pay across all your income. It is calculated by dividing your total tax by your total income, and is always lower than your marginal rate due to progressive taxation.
Does this include state taxes?
No, this calculator only covers US federal income tax for 2024. State income taxes vary significantly by state and are not included in this calculation.
Does this account for deductions?
This calculator uses gross income. For a more accurate result, subtract your standard deduction ($14,600 for single, $29,200 for married filing jointly, $21,900 for head of household in 2024) or itemized deductions before entering your income.

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This calculator provides estimates for informational purposes only and is not financial, tax, or legal advice. Consult a qualified professional before making financial decisions.