Income Tax Calculator
Estimate your US federal income tax based on 2024 tax brackets.
Tax Details
Standard deduction: $14,600 will be used if higher
Federal Tax
$8,341
Effective Rate
11.1%
Marginal Rate
22%
After-Tax Income
$66,659
Monthly Take-Home
$5,554.92
per month after federal tax
Tax Bracket Breakdown
This calculator estimates US federal income tax only using 2024 brackets. It does not include state taxes, FICA (Social Security/Medicare), AMT, or tax credits. Consult a tax professional for accurate filing.
Tax Calculator FAQ
Income tax is calculated using progressive tax brackets. Each portion of your income is taxed at increasing rates. Your effective tax rate is the average rate across all brackets, which is always lower than your marginal (top) rate.
Your marginal rate is the rate applied to your last dollar of income. Your effective rate is your total tax divided by total income. For example, earning $100k might put you in the 24% marginal bracket but your effective rate might only be 17%.
Common deductions include mortgage interest, charitable donations, student loan interest, business expenses, and retirement contributions. You can choose between itemizing deductions or taking the standard deduction.
A W-4 tells your employer how much tax to withhold from your paycheck. Proper withholding avoids a large tax bill or penalty at year end. You should update it after major life changes like marriage or having children.