Salary Tax Calculator
Calculate your federal income tax and net take-home pay based on 2024 US tax brackets for single filers.
Federal Income Tax
$6,053.00
Net Income
$43,947.00
Effective Tax Rate
12.11%
Income Summary
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Understanding Tax Brackets
The US uses a progressive tax system with tax brackets. Your income is taxed at different rates depending on which bracket it falls into. This calculator uses 2024 tax brackets for single filers.
2024 Tax Brackets (Single Filer)
| Income Range | Tax Rate |
|---|---|
| $0 - $11,600 | 10% |
| $11,600 - $47,150 | 12% |
| $47,150 - $100,525 | 22% |
| $100,525 - $191,950 | 24% |
| $191,950 - $243,725 | 32% |
| $243,725 - $609,350 | 35% |
| Over $609,350 | 37% |
What This Calculator Does NOT Include
- State and local taxes
- Social Security and Medicare taxes (FICA)
- Tax deductions and credits
- Standard deduction (uses only tax brackets)
- Capital gains or investment income
- Other tax considerations specific to your situation
Key Tax Concepts
Effective Tax Rate
The percentage of your total income paid in taxes. It's lower than your marginal rate because you pay different rates on different portions of income.
Marginal Tax Rate
The tax rate on your next dollar earned. Important for understanding how much additional income will be taxed.
Progressive Tax System
Higher income earners pay a larger percentage in taxes. Each bracket only applies to income within that bracket.
Important Disclaimer
This calculator provides estimates for federal income tax only based on 2024 tax brackets for single filers. It does not account for deductions, credits, state/local taxes, or your specific tax situation. For accurate tax planning, consult with a tax professional.