Tax Calculator
Calculate federal and state income taxes, deductions, and refunds for 2024
Tax Information
Enter your income and filing information
Unmarried individual
Itemized Deductions (Optional)
Tax Summary
Your tax calculation results
About Tax Calculations
Filing Status
- • Single: Unmarried individual
- • Married Filing Jointly: Married couple filing together
- • Head of Household: Unmarried with dependents
Deductions
- • Standard Deduction: Automatic deduction based on filing status
- • Itemized Deductions: Specific expenses that can be deducted
- • You can choose whichever gives you a larger deduction
Tax Rates
- • Effective Rate: Total tax as percentage of gross income
- • Marginal Rate: Tax rate on your highest dollar of income
- • Tax brackets are progressive - higher income is taxed at higher rates
Frequently Asked Questions
How are federal income taxes calculated?▾
Federal income tax uses a progressive bracket system: different portions of your income are taxed at increasing rates. Your taxable income is your gross income minus deductions.
What is the difference between a deduction and a credit?▾
A deduction reduces the income you are taxed on, while a credit reduces your tax bill dollar-for-dollar. Credits generally provide a bigger benefit for the same dollar amount.
What is the standard deduction?▾
The standard deduction is a fixed amount that reduces the income you owe tax on, available to anyone who does not itemize. Amounts vary by filing status and are adjusted annually for inflation.
When should I itemize deductions?▾
Itemize when your total eligible expenses — like mortgage interest, state and local taxes (up to the cap), and charitable donations — exceed the standard deduction for your filing status.