CalculateY
Quick Answer
A single filer earning $75,000 with the 2024 standard deduction ($14,600) has an estimated federal income tax of approximately $8,817, for an effective rate of approximately 11.8%.
Common Examples
| Input | Result |
|---|---|
| $50,000 single filer, standard deduction | Estimated $4,106 federal tax (approximately 8.2% effective rate) |
| $75,000 single filer, standard deduction | Estimated $8,817 federal tax (approximately 11.8% effective rate) |
| $100,000 married filing jointly, standard deduction | Estimated $7,060 federal tax (approximately 7.1% effective rate) |
| $150,000 single filer, standard deduction | Estimated $25,901 federal tax (approximately 17.3% effective rate) |
| $200,000 head of household, standard deduction | Estimated $35,498 federal tax (approximately 17.7% effective rate) |
How It Works
This calculator uses the 2024 U.S. federal income tax brackets with a progressive structure. Each dollar of taxable income is taxed only at the rate for the bracket it falls into, not at a single flat rate.
Step 1: Determine Your Deduction
The standard deduction for 2024 depends on filing status:
- Single: $14,600
- Married Filing Jointly: $29,200
- Married Filing Separately: $14,600
- Head of Household: $21,900
If your itemized deductions (mortgage interest, state/local taxes, charitable contributions, etc.) exceed the standard deduction, itemizing may result in lower estimated tax.
Step 2: Calculate Taxable Income
Taxable Income = Gross Income - Deduction (minimum $0)
Step 3: Apply Tax Brackets Progressively
For a Single filer in 2024:
| Taxable Income Range | Rate |
|---|---|
| $0 to $11,600 | 10% |
| $11,601 to $47,150 | 12% |
| $47,151 to $100,525 | 22% |
| $100,526 to $191,950 | 24% |
| $191,951 to $243,725 | 32% |
| $243,726 to $609,350 | 35% |
| Over $609,350 | 37% |
Each bracket applies only to income within that range. The effective tax rate is the total tax divided by gross income, and it is always lower than the marginal bracket rate.
Worked Example
For a single filer earning $75,000 with the standard deduction: Taxable income = $75,000 - $14,600 = $60,400. Tax on the first $11,600 at 10% = $1,160. Tax on $11,601 to $47,150 ($35,550) at 12% = $4,266. Tax on $47,151 to $60,400 ($13,250) at 22% = $2,915. Total estimated federal tax = $1,160 + $4,266 + $2,915 = $8,341. Effective rate = $8,341 / $75,000 = approximately 11.1%. The marginal rate is 22%, meaning the next dollar earned would be taxed at 22%.
Related Calculators
Salary Take-Home Calculator
Estimate your after-tax take-home pay based on gross salary, tax rates, and pre-tax deductions.
1099 Tax Calculator
Estimate self-employment tax, federal income tax, and quarterly payments for 1099 freelance and contractor income.
Annual Income Calculator
Estimate your total annual income from multiple sources: salary, hourly wages, freelance, and other income.