What this estimates
US federal income tax for tax year 2024 only. Pick filing status, enter gross income, optionally pick standard or itemized deduction. Get back: tax owed, marginal rate, effective rate, and after-tax take-home.
This is federal income tax only. Does NOT include:
- FICA/payroll tax: Social Security 6.2% + Medicare 1.45% (employee share, doubled for self-employed)
- State income tax: varies wildly. CA tops 13.3%; TX/FL/NV have none
- Local/city tax: NYC, Philadelphia, San Francisco have local income taxes
- AMT (Alternative Minimum Tax), kicks in for some high earners
For US W-2 employees, real take-home is typically 25-35% below gross. The federal-only number from this calculator is just one piece.
Marginal vs effective rate
A common confusion:
- Marginal rate = the bracket your last dollar landed in. If you’re in the 24% bracket, your next dollar earned is taxed at 24%.
- Effective rate = total tax ÷ total income. Always lower than your marginal rate, because lower brackets tax earlier dollars at lower rates.
A single filer making $100K with the standard deduction has a 22% marginal rate but a ~13% effective rate. Knowing both matters: use marginal for decisions about extra income (overtime, bonuses, side gigs), effective for budgeting your annual outflow.
How brackets work
US brackets are progressive. Each dollar gets taxed at the rate of the bracket it falls in, not all dollars at the highest applicable rate. For a 2024 single filer making $50,000:
- First $11,600 taxed at 10% = $1,160
- Next $35,550 ($11,600 to $47,150) at 12% = $4,266
- Last $2,850 ($47,150 to $50,000) at 22% = $627
- Total: $6,053 (effective rate 12.1%)
If you “made it into the 22% bracket” you didn’t suddenly pay 22% on everything. Just on the dollars above the bracket threshold.
Standard vs itemized deduction
For tax year 2024:
- Single: $14,600
- Married filing jointly: $29,200
- Head of household: $21,900
You can either take this standard amount or itemize specific deductions (mortgage interest, state/local tax up to $10K, charity, medical above 7.5% of AGI). After 2017 tax reform, the standard deduction is high enough that ~90% of filers don’t itemize.
When to itemize
Roughly: itemize if your specific deductions exceed the standard. Common scenarios:
- Mortgage on a high-value home in a high-tax state
- Significant charitable giving (10%+ of income)
- Major medical expenses
- Substantial state and local tax (capped at $10K post-2017)
For most W-2 employees with no mortgage and average giving, standard wins.
Frequently asked questions
Why is my actual tax higher than this estimate? Because state, FICA, AMT, and other taxes aren’t here. For full take-home estimation, a comprehensive paycheck calculator is more accurate.
Are these brackets adjusted for inflation each year? Yes, the IRS adjusts bracket thresholds annually for inflation. The 2024 numbers in this calculator will be slightly different from 2025’s.
What about retirement contributions? 401(k) and traditional IRA contributions reduce your taxable income. The calculator’s “income” field should be your gross MINUS pre-tax retirement contributions for an accurate estimate.
What about capital gains? Long-term capital gains (held >1 year) have separate brackets (0%, 15%, 20%) and aren’t included here. This calculator handles ordinary wage income only.