USA Income Tax Calculator
Calculate your 2024 federal income tax and take-home pay
Income & Deductions
Enter your annual income and filing information
Your total annual income before taxes
401(k), IRA, HSA, student loan interest, etc.
Varies by state (0-13.3%)
Tax Summary
Your tax breakdown and net income
Annual Net Income
$5,077 per month
Federal Income Tax
13.81% effective rate
Social Security
6.2% (up to $168,600)
Medicare
1.45% + 0.9% over threshold
Total Tax
18.77% of gross income
Marginal Rate
22%
Effective Rate
18.8%
Federal Tax Bracket Breakdown
How your income is taxed across different brackets
Taxable Income
After $14,600 in deductions
Understanding Your Taxes
Tax Components
- • Federal Income Tax: Progressive tax based on income brackets
- • Social Security: 6.2% up to $168,600 wage base
- • Medicare: 1.45% on all income + 0.9% over threshold
- • State Tax: Varies by state (0-13.3%)
- • Standard Deduction: Reduces taxable income
Key Terms
- • Marginal Rate: Tax rate on your last dollar earned
- • Effective Rate: Average tax rate on all income
- • Taxable Income: Income after deductions
- • FICA: Social Security + Medicare taxes
- • Net Income: Take-home pay after all taxes
Disclaimer: This calculator provides estimates for educational purposes based on 2024 federal tax brackets. Actual tax liability may vary based on credits, additional deductions, and individual circumstances. Consult a tax professional or CPA for personalized advice.
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