2024 Tax Bracket Calculator
See exactly which federal tax brackets your income falls in, your effective rate, and take-home pay after FICA and state taxes.
Income & Filing Details
Effective Rate
20.1%
Marginal Rate
22.0%
Total Tax
$17,044
Monthly Take-Home
$5,663
Federal Bracket Breakdown
Taxable income: $70,400 (after $14,600 standard deduction)
| Bracket | Income in Range | Tax in Range | Cumulative |
|---|---|---|---|
| 10% | $11,600 | $1,160 | $1,160 |
| 12% | $35,550 | $4,266 | $5,426 |
| 22% | $23,250 | $5,115 | $10,541 |
Income Distribution: 2024
Full Tax Breakdown
| Gross Income | $85,000 |
| Standard Deduction (Single) | −$14,600 |
| Taxable Income | $70,400 |
| Federal Income Tax | $10,541 |
| State Tax (No State Tax, 0.0%) | $0 |
| Social Security (6.2%) | $5,270 |
| Medicare (1.45%) | $1,233 |
| Total Tax | $17,044 |
| Annual Take-Home Pay | $67,957 |
| Monthly Take-Home | $5,663 |
Frequently Asked Questions
What is the difference between marginal and effective tax rate?
Your marginal rate is the rate on your last dollar earned (the bracket you're in). Your effective rate is total taxes ÷ gross income — it's always lower than your marginal rate because only income above each threshold is taxed at the higher rate.
What is the standard deduction for 2024?
For 2024, the standard deduction is: Single — $14,600 | Married Filing Jointly — $29,200 | Head of Household — $21,900. This reduces your taxable income before brackets apply.
Are capital gains taxed differently?
Yes — long-term capital gains (assets held >1 year) are taxed at 0%, 15%, or 20% depending on income, separate from ordinary income brackets. This calculator covers ordinary income only.
Why is my state tax an estimate?
State tax is calculated using a simplified flat rate for your state's top marginal rate. Actual state tax may differ due to state-specific deductions, local taxes, and graduated brackets.
When are 2024 taxes due?
Federal income tax returns for the 2024 tax year are due April 15, 2025. You can file for an extension for 6 additional months, but taxes owed are still due on April 15.