Tax Bracket Calculator
Estimate your federal income tax, effective rate, and marginal tax bracket.
Why Tax Bracket Awareness Matters
Understanding your tax bracket helps you make smarter financial decisions. It clarifies how much of your next dollar earned will be taxed and reveals opportunities for tax optimization.
How to Use This Calculator
- Annual Income: Your gross taxable income (before deductions)
- Filing Status: Single, Married, or Head of Household
- Enter any format — we extract numbers from text, symbols, and units
- Click "Calculate Tax" to see your tax owed, effective rate, and marginal rate
- Review the breakdown to see how much you pay in each bracket
Formula Used
Total Tax = Σ (Taxable Amount in Bracket × Bracket Rate)Where:
- Tax Brackets: Progressive rates increase with income
- Effective Rate: Total Tax / Taxable Income
- Marginal Rate: Rate on the last dollar earned
Example: $85,000 income (Single) → Taxed at 10%, 12%, and 22% brackets
→ Total Tax: ~$15,300 → Effective Rate: ~18% → Marginal Rate: 22%
2024 U.S. Federal Tax Brackets
| Rate | Single | Married | Head of Household |
|---|---|---|---|
| 10% | $0 – $11,600 | $0 – $23,200 | $0 – $16,550 |
| 12% | $11,601 – $47,150 | $23,201 – $94,300 | $16,551 – $59,950 |
| 22% | $47,151 – $100,525 | $94,301 – $201,050 | $59,951 – $100,500 |
| 24% | $100,526 – $191,950 | $201,051 – $383,900 | $100,501 – $191,950 |
| 32% | $191,951 – $243,725 | $383,901 – $487,450 | $191,951 – $243,700 |
| 35% | $243,726 – $609,350 | $487,451 – $731,200 | $243,701 – $609,350 |
| 37% | $609,351+ | $731,201+ | $609,351+ |
Key Concepts
- Marginal Tax Rate: The rate you pay on the next dollar earned
- Effective Tax Rate: Average rate across all income
- Progressive System: Higher income = higher rate only on that portion
- Tax Deductions: Reduce taxable income (e.g. 401(k), IRA, standard deduction)
- Tax Credits: Direct reduction in tax owed (e.g. Child Tax Credit)
Tax Planning Tips
- ✅ Maximize retirement accounts — defer income to lower brackets later
- ✅ Harvest tax losses — offset capital gains
- ✅ Time income and deductions — shift to optimal years
- ✅ Consider Roth vs. Traditional — based on current vs future tax rate
- ✅ Avoid bracket creep — small raises may push you into higher marginal rate
Advanced Strategies
- Backdoor Roth IRA: For high earners above income limits
- Mega Backdoor Roth: After-tax 401(k) to Roth conversion
- Charitable Giving: Bunch donations to exceed standard deduction
- State Taxes: Consider low/no-income-tax states in retirement
- Capital Gains Rates: 0%, 15%, or 20% — often lower than income rates
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