Income Tax Estimator
Estimate US federal income tax, effective rate and take-home pay by filing status.
Estimate only — 2024 US federal brackets with standard deduction ($14,600). Excludes state, FICA & credits.
Estimated federal tax
$10,541
Effective rate 12.4% · take-home $74,459
Taxable income
$70,400
Effective rate
12.4%
Marginal bracket
22%
Take-home pay
$74,459
Monthly take-home
$6,205
AI Breakdown & Smart Takeaway
Plain-English insight on your numbers
Get a personalized explanation of what these results mean — and how to improve them.
How the Income Tax Estimator works
The Income Tax Estimator calculates your estimated US federal income tax liability, effective tax rate, and projected take-home pay based on your gross income and filing status. It's built for employees, freelancers, and anyone planning ahead who wants a clear picture of what they owe the IRS before tax season arrives.
The US uses marginal tax brackets: only the income inside each band is taxed at that band’s rate — not your whole income.
We subtract the standard deduction, apply 2024 federal brackets, and report both your marginal bracket and your true effective rate.
Formula
Tax = Σ (income in bracket × bracket rate); Effective rate = Tax / Gross
Pro tips
- Pre-tax 401(k) or HSA contributions lower your taxable income and can drop you a bracket.
Key terms
- Marginal Tax Rate
- — The IRS tax rate that applies to the last dollar of your taxable income, representing the rate on income within your highest bracket—not on all of your income.
- Effective Tax Rate
- — Your total federal income tax paid divided by gross income, expressed as a percentage; this reflects your true average rate across all income earned.
- Standard Deduction
- — A flat dollar amount the IRS allows you to subtract from gross income before calculating tax, with the amount varying by filing status.
- Taxable Income
- — The portion of your gross income subject to federal income tax after subtracting the standard deduction or total itemized deductions.
- Filing Status
- — An IRS classification—such as Single, Married Filing Jointly, or Head of Household—that determines which tax brackets and standard deduction amount apply to you.
- Tax Bracket
- — A range of taxable income to which a specific federal tax rate applies under the US progressive tax system, with rates currently ranging from 10% to 37%.