Income Tax Bracket Calculator
Estimate your 2024 US federal income tax based on taxable income and filing status using IRS tax brackets.
Formula
Federal income tax is calculated progressively. Only the income within each bracket is taxed at that bracket's rate:
Tax = Σ [ ratei × (min(income, maxi) − mini) ] for each bracket i where income > mini
Effective Rate = Total Tax ÷ Taxable Income × 100
Marginal Rate = the rate of the highest bracket reached by your income.
Assumptions & References
- Uses 2024 IRS federal income tax brackets (inflation-adjusted, effective for tax year 2024).
- Input is assumed to be taxable income (after deductions and exemptions — not gross income).
- Does not include state/local taxes, FICA (Social Security/Medicare), AMT, credits, or capital gains rates.
- Filing statuses: Single, Married Filing Jointly (MFJ), Head of Household (HOH), Married Filing Separately (MFS).
- Bracket thresholds sourced from IRS Rev. Proc. 2023-34.
- Maximum supported income: $100,000,000.