Income Tax Calculator
$0.00 estimated federal tax
What This Calculator Estimates
This calculator estimates federal income tax only, using 2024 IRS tax brackets and standard deductions. It does not include state income tax, FICA (Social Security and Medicare), or tax credits, so your actual take-home pay will differ from the estimate shown.
Marginal vs Effective Tax Rate
Your marginal rate is the tax rate applied to your last dollar of taxable income. Your effective rate is your total tax divided by your gross income — because of how tax brackets work, your effective rate is always lower than your marginal rate.
Standard Deduction vs Itemizing
This calculator assumes you take the standard deduction. If your deductible expenses (mortgage interest, charitable donations, state taxes, etc.) exceed the standard deduction for your filing status, itemizing could lower your taxable income further.
Frequently Asked Questions
Does this calculator include state income tax?
No, this calculator estimates US federal income tax only using marginal tax brackets; state tax rules vary widely by state.
What is the difference between marginal and effective tax rate?
Your marginal rate is the rate on your last dollar of income; your effective rate is the average rate across all your taxable income.