Income Tax Calculator -- US Federal Tax Brackets 2026
Understanding Income Tax
Income tax is a tax imposed on individuals based on their earnings. Most countries use a progressive tax system where higher income is taxed at higher rates through tax brackets.
How Tax Brackets Work
Tax brackets determine the rate at which your income is taxed. In a progressive system, only the income within each bracket is taxed at that bracket's rate--not your entire income.
For example, if you're in the 22% tax bracket in the US, it doesn't mean all your income is taxed at 22%. Only the portion of income that falls within that bracket is taxed at 22%.
2024 US Federal Tax Brackets (Single)
| Income Range | Tax Rate |
|---|---|
| $0 - $11,600 | 10% |
| $11,601 - $47,150 | 12% |
| $47,151 - $100,525 | 22% |
| $100,526 - $191,950 | 24% |
| $191,951 - $243,725 | 32% |
| $243,726 - $609,350 | 35% |
| Over $609,350 | 37% |
Key Tax Terms
- Gross Income: Total income before any deductions or taxes
- Taxable Income: Income after deductions that is subject to tax
- Marginal Tax Rate: The rate applied to your last dollar of income
- Effective Tax Rate: Your actual tax rate (total tax ÷ taxable income)
- Standard Deduction: A fixed deduction amount you can claim without itemizing
Frequently Asked Questions
What is the difference between marginal and effective tax rate?
Your marginal tax rate is the rate on your last dollar of income (your highest bracket). Your effective tax rate is the average rate you actually pay on all your income. The effective rate is always lower than the marginal rate in a progressive system.
Should I take the standard deduction or itemize?
Take whichever is higher. For 2024, the US standard deduction is $14,600 (single), $29,200 (married filing jointly), or $21,900 (head of household). Itemize only if your deductions exceed these amounts.
Does this calculator include state taxes?
No, this calculator shows federal/national income tax only. State and local taxes vary significantly by location. Some US states have no income tax, while others can add 5-13% or more to your tax burden.
How do tax brackets actually work?
Tax brackets are progressive - you only pay each rate on income within that bracket. For example, if the 22% bracket starts at $50,000 and you earn $60,000, only the $10,000 above $50,000 is taxed at 22%. Lower amounts are taxed at lower rates. You never lose money by earning more.
What tax deductions can reduce my taxable income?
Common deductions include: mortgage interest, charitable donations, medical expenses exceeding 7.5% of AGI, state/local taxes (up to $10,000), student loan interest (up to $2,500), and retirement contributions (401k, traditional IRA). Self-employed individuals have additional business deductions.
When are taxes due and how do I pay?
US federal taxes are due April 15th (or next business day). Pay online through IRS Direct Pay, EFTPS, or with your e-filing software. You can also pay by check, money order, debit/credit card (with fees), or installment plan if you owe more than you can pay immediately.
What happens if I owe more taxes than expected?
Adjust your W-4 withholding to increase paycheck deductions. If you owe over $1,000, the IRS may assess an underpayment penalty. You can set up an installment plan, request temporary delay, or explore an Offer in Compromise if facing financial hardship.
How can I reduce my tax bill legally?
Max out retirement contributions (401k, IRA), use HSA for healthcare expenses, harvest investment losses, claim all eligible tax credits (child tax credit, EV credit, education credits), donate appreciated assets to charity, and consider timing income/deductions strategically. Consult a tax professional for personalized strategies.
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