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Income Tax
Federal income tax estimator
Based on 2024 US Federal Tax Brackets. Deductions not included.
How It Works
Free income tax calculator to estimate federal and state income tax liability based on income, deductions, and filing status.
An income tax calculator estimates the amount of tax owed to federal, state, and local governments based on an individual's income, filing status, and deductions. The U.S. federal income tax system is progressive, meaning higher income levels are taxed at higher rates.
The standard deduction reduces taxable income by a fixed amount based on filing status. Itemizing deductions (such as mortgage interest, state and local taxes, and charitable contributions) can provide greater tax savings if the total exceeds the standard deduction.
Understanding marginal versus effective tax rates is important. The marginal rate is the rate paid on the last dollar earned, while the effective rate is the average rate across all income. Tax planning strategies including retirement account contributions, health savings accounts, and timing of income and deductions can help minimize tax liability.
Results
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Quick Tips
- • Results update automatically as you type
- • Use Tab to navigate between fields
- • Press Enter to calculate