2024 US federal tax brackets (simplified)
| Rate | Single | Married jointly |
|---|---|---|
| 10% | $0 - $11,600 | $0 - $23,200 |
| 12% | $11,600 - $47,150 | $23,200 - $94,300 |
| 22% | $47,150 - $100,525 | $94,300 - $201,050 |
| 24% | $100,525 - $191,950 | $201,050 - $383,900 |
| 32% | $191,950 - $243,725 | $383,900 - $487,450 |
| 35% | $243,725 - $609,350 | $487,450 - $731,200 |
| 37% | $609,350+ | $731,200+ |
Standard deduction: $14,600 single / $29,200 married jointly. This calculator applies the standard deduction automatically.
FICA taxes
- Social Security: 6.2% on wages up to $168,600 (2024 cap).
- Medicare: 1.45% on all wages. Additional 0.9% above $200,000 single / $250,000 married (not applied by this calculator).
FAQ
Is this exact?
No. It uses simplified brackets, assumes standard deduction, and ignores credits and other deductions. Use a CPA or IRS W-4 estimator for exact withholding.
Why is 401K pre-tax?
Traditional 401K contributions are deducted from gross before federal and state income tax (but FICA still applies). Lowers current taxable income; you pay tax on withdrawal in retirement.