Tax Planning
Tax Bracket Calculator
Calculate your federal income tax, effective rate, and marginal tax bracket.
Annual Taxable Income
$
Your taxable income after deductions and exemptions
Filing Status
Your tax filing status determines your tax brackets
Standard Deduction
Standard deduction: $13,850 (Single) / $27,700 (Married Joint)
Tax
0%
Total Tax
$0
annual tax liability
Effective Tax Rate
0%
Marginal Tax Bracket
0%
Taxable Income
$0
Filing Status
Single
📊 Tax Breakdown by Bracket
| Bracket | Income Range | Taxable Amount | Tax |
|---|
How the formula works
Tax = Σ (Income in Bracket × Bracket Rate) | Effective Rate = Total Tax ÷ Taxable Income
- Taxable Income = Gross Income − Deductions
- Marginal Tax Rate = Rate applied to your last dollar earned
- Effective Tax Rate = Total Tax ÷ Taxable Income
- US federal tax brackets for 2024 are used (10%, 12%, 22%, 24%, 32%, 35%, 37%)
- Higher income = higher marginal rate, but effective rate is typically lower