ToolBark
Finance

Income Tax Calculator

Estimate your 2024 US federal income tax in seconds

Tax Details

2024 Federal Tax Estimate

$8,341Est. Federal Tax
11.12%Effective Rate
22.00%Marginal Rate
Gross Income$75,000
Standard Deduction (Single)− $14,600
Taxable Income$60,400
Estimated Federal Tax$8,341
After-Tax Income$66,659

Bracket Breakdown

You only pay each rate on income within that bracket — not on your whole income.

RateBracket RangeIncome in BracketTax Owed
10%$0 $11,600
$11,600
$1,160
12%$11,600 $47,150
$35,550
$4,266
22%marginal$47,150 $100,525
$13,250
$2,915
Total$8,341

Estimate only. This calculator uses 2024 US federal income tax brackets with the standard deduction. It does not account for credits, deductions, AMT, FICA/payroll taxes, state/local taxes, investment income, or other adjustments. Consult a qualified tax professional for advice specific to your situation.

About

Use this free 2024 US federal income tax calculator to instantly estimate how much you owe based on your annual gross income and filing status. See your taxable income after the standard deduction, your total estimated federal tax, effective tax rate, marginal tax rate, and a clear bracket-by-bracket breakdown — all in one place. Results are estimates; consult a tax professional for filing advice.

FAQ
What is the difference between effective tax rate and marginal tax rate?+

Your marginal tax rate is the rate applied to the last dollar you earn — the highest bracket you fall into. Your effective tax rate is your total tax divided by your gross income, and is always lower because only income above each bracket threshold is taxed at the higher rate.

Does this calculator include state income taxes?+

No. This tool estimates federal income tax only using 2024 IRS brackets and the standard deduction. State and local taxes vary widely and are not included. For a complete picture, check your state's revenue department.

What is the 2024 standard deduction?+

For 2024, the standard deduction is $14,600 for Single and Married Filing Separately filers, $29,200 for Married Filing Jointly, and $21,900 for Head of Household. This amount is subtracted from your gross income before tax brackets are applied.

Does this tool account for tax credits or other deductions?+

No — this is a simplified estimator using only the standard deduction and the seven 2024 federal brackets. It does not factor in itemized deductions, the Child Tax Credit, FICA payroll taxes, AMT, capital gains, or retirement contributions. Use it as a ballpark figure.

Related tools