Income Tax Calculator
Estimate your federal income tax, taxable income, and effective rate from your gross income and filing status. Estimates 2024 US federal tax only, not tax advice.
Calculator by Toolsloft ↗- Federal tax
- $9,441.00
- Taxable income
- $65,400.00
- After-tax income
- $70,559.00
- Effective rate
- 11.8%
- Marginal rate
- 22%
This calculator estimates your federal income tax starting from gross income, subtracting the standard deduction to find taxable income, then reporting your tax, after-tax income, and effective and marginal rates. Use it for a quick read on your federal bill before filing.
How this is calculated
It subtracts the 2024 standard deduction for your filing status (14,600 single, 29,200 married, 21,900 head of household), floored at zero, then applies the 2024 federal brackets progressively to the remaining taxable income.
How to use
- Enter your gross annual income.
- Choose your filing status.
- Read your federal tax, taxable income, after-tax income, and rates.
Examples
- Single, $80k:
80000 → federal tax 9441, effective 11.8% - Married, $80k:
80000 → lower tax thanks to a larger standard deduction
FAQ
- What does this calculator include?
- It estimates 2024 US federal income tax only, using the standard deduction for your filing status. It excludes state tax and credits, this is not tax advice.
- How is taxable income calculated?
- Taxable income = gross income − the 2024 standard deduction for your filing status ($14,600 single, $29,200 married, $21,900 head of household), floored at zero.
- What is the difference between effective and marginal rate?
- The effective rate is your total federal tax divided by gross income. The marginal rate is the bracket rate applied to your last dollar of taxable income.