Income Tax Calculator

This comprehensive income tax calculator helps you estimate your federal income taxes and calculate your take-home pay. It uses the 2024 federal tax brackets to calculate your tax liability based on your income, filing status, and deductions. The calculator also accounts for additional taxes like FICA (Social Security and Medicare), state taxes, and other payroll deductions.

Tax Calculator

💰 Tax Calculator

Calculate your income tax and take-home pay

Your Annual Take-Home Pay
$0.00
Income Details
Gross Annual Income: $0.00
Taxable Income: $0.00
Monthly Take-Home: $0.00
Tax Breakdown
Federal Income Tax: $0.00
Other Taxes: $0.00
Total Tax: $0.00
Effective Tax Rate: 0.00%
Income Distribution
Net: 70%
Tax: 30%
Take-Home Pay
Total Taxes

Key Features

1. Take-Home Pay Calculation

  • Shows your annual net income after all taxes
  • Displays monthly take-home pay for budgeting purposes

2. Progressive Tax Bracket System

  • Uses actual 2024 federal tax brackets
  • Supports three filing statuses:
    • Single
    • Married Filing Jointly
    • Head of Household

3. Detailed Tax Breakdown

  • Federal Income Tax amount
  • Other taxes (FICA, state, local)
  • Total tax liability
  • Effective tax rate (your actual tax percentage)

4. Visual Income Distribution

  • Interactive bar chart showing the split between:
    • Your take-home pay (green)
    • Total taxes paid (red)

How to Use the Calculator

Step 1: Enter Your Annual Income

Annual Income ($)

  • Enter your gross annual salary before any deductions
  • Example: $75,000

Step 2: Select Your Filing Status

Filing Status (Choose one)

  • Single: Unmarried individuals
  • Married Filing Jointly: Married couples filing together
  • Head of Household: Unmarried with qualifying dependents

Different filing statuses have different tax brackets and rates.

Step 3: Add Deductions (Optional)

Deductions ($)

  • Enter the total amount of deductions you’ll claim
  • This could be the standard deduction or itemized deductions
  • Standard deductions for 2024:
    • Single: $14,600
    • Married Filing Jointly: $29,200
    • Head of Household: $21,900

Step 4: Include Other Taxes (Optional)

Other Taxes (%)

  • Default is 7.65% (for FICA taxes)
  • FICA breakdown:
    • Social Security: 6.2%
    • Medicare: 1.45%
  • You can adjust this to include state or local taxes
  • Example: 7.65% (FICA) + 5% (state) = 12.65%

Step 5: Calculate

Click the “Calculate Taxes” button to see your results instantly.

Understanding Your Results

Income Details Section

Gross Annual Income: Your total salary before taxes

Taxable Income: Income after deductions (what you’re actually taxed on)

Monthly Take-Home: Your net pay divided by 12 months

Tax Breakdown Section

Federal Income Tax: Calculated using progressive tax brackets

  • Lower income is taxed at lower rates
  • Higher income is taxed at higher rates
  • You only pay the higher rate on income above each threshold

Other Taxes: FICA and any additional taxes you specified

Total Tax: Combined federal and other taxes

Effective Tax Rate: Your actual tax percentage

  • This is lower than your highest tax bracket rate
  • Shows what percentage of your gross income goes to taxes

Visual Bar Chart

Shows at a glance how your income is divided:

  • Green section: Money you keep
  • Red section: Money paid in taxes

Example Calculation

Let’s say you enter:

  • Annual Income: $75,000
  • Filing Status: Single
  • Deductions: $14,600 (standard deduction)
  • Other Taxes: 7.65% (FICA)

The calculator will show approximately:

  • Taxable Income: $60,400
  • Federal Tax: ~$9,200
  • FICA Tax: ~$5,738
  • Total Tax: ~$14,938
  • Take-Home Pay: ~$60,062
  • Effective Rate: ~19.9%
  • Monthly Pay: ~$5,005

How Federal Tax Brackets Work

The U.S. uses a progressive tax system. You don’t pay one flat rate on all your income. Instead:

For Single Filers (2024):

  • First $11,600 → taxed at 10%
  • $11,601 to $47,150 → taxed at 12%
  • $47,151 to $100,525 → taxed at 22%
  • And so on…

You only pay the higher rate on income within that bracket, not on all your income.

Tips for Accurate Results

✓ Include all deductions to reduce taxable income ✓ Adjust “Other Taxes” to match your state/local taxes ✓ Use your gross income (before any deductions from paycheck) ✓ Remember this is an estimate – actual taxes may vary based on credits, additional income, etc.

Clear Button

Click “Clear” to reset all fields and start over with a new calculation.

Important Notes

⚠️ This calculator provides estimates based on 2024 federal tax brackets

⚠️ Does not include:

  • Tax credits (Child Tax Credit, Earned Income Credit, etc.)
  • Alternative Minimum Tax (AMT)
  • Investment income taxes
  • Self-employment taxes beyond FICA

⚠️ For planning purposes only – consult a tax professional for detailed advice

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