Income Tax Calculator
Estimate your federal, state & local income tax burden
Updated for 2024 tax year on Jul 23, 2024
Income tax calculators by state
How to calculate your income tax burden
Table of Contents
Federal income tax calculation
Benjamin Franklin once said: In this world nothing can be said to be certain, except death and taxes
. All United States residents and citizens are subjected to income taxes, including investments, overseas incomes, etc. Not reporting and paying taxes is tax evasion and a criminal offence.
The tax year for individuals starts on January 1st and ends on December 31st of the same calendar year.
Federal income tax is calculated progressively, where those earning more pay a higher percentage of their income in taxes. Some states also have a progressive system, while others have a single tax rate for all income levels. In addition, eight states do not have an income tax, and one state (New Hampshire) does not have a wage income tax. Some counties, cities, and districts may also have a local income tax.
Besides income taxes, there are also payroll taxes at the federal and state levels. Social Security and Medicare, aka FICA, make up the federal payroll tax. State-level insurance taxes are only present in some states and are based on your taxable wage.
Calculate your income tax in 4 steps
There are four main steps to work out your total income tax liability.
Step 1 – Total federal income tax
No matter which state you reside in, you need to pay federal income tax.
Step 1.1 – Gross income adjusted
In this step, you must work out your gross income adjusted by removing retirement contributions from your total annual gross income. Contributions 401(k) and IRA are considered retirement contributions.
The formula is:
Gross income − Pre-tax deductions = Gross income adjusted
Step 1.2 – Federal taxable income
Now you have to calculate your federal taxable income to understand your federal income tax liability.
The formula is:
Gross income adjusted − Federal standard/itemized deductions = Federal taxable income
Step 1.3 – Federal income tax liability
Now you have to work out your tax liability. Different portions of your taxable income are taxed at different rates.
For example, if you’re a single filer with a taxable income of $50,000, your calculation will be:
- 10% on the first $11,000: $11,000 × 0.10 = $1,100
- 12% on the next $33,725: $33,725 × 0.12 = $4,047
- 22% on the next $5,275: $5,275 × 0.22 = $1,160.50
- Your total tax liability: $1,100 + $4,047 + $1,160.50 = $6,307.50
The formula is:
Federal taxable income × Federal income tax rate = Federal income tax liability
Step 1.4 – Federal payroll tax liability
Payroll tax is based on the taxable wage (gross income) hence the name. Unlike income tax, each payroll tax has a gross income ceiling. FICA consists of two taxes: Social Security and Medicare.
The formula is:
Gross income × Federal payroll tax rate = Federal payroll tax liability
Step 2 – Total state income tax
Some states have no payroll and income taxes. If you live in one, you can skip this step 🤘
Step 2.1 – State taxable income
Your state taxable income may be different from your federal taxable income. The key differences are:
- Some states have different standard deductions
- Some states still have personal exemptions (after the Tax Cuts and Jobs Act)
The formula is:
Gross income adjusted − (State standard/itemized deductions + State exemptions) = State taxable income
Step 2.2 – State income tax liability
Use your state taxable income to deprive your state income tax liability. Some states implement progressive income taxes while some are flat rates.
The formula is:
State taxable income × State income tax rate = State income tax liability
Step 2.3 – State payroll tax liability
Some states impose insurance tax and it is usually based on the taxable wage (gross income). The following is a list of state insurance:
- Long-Term Care Insurance
- Paid Family and Medical Leave (PFML)
- State Disability Insurance (SDI)
- State Unemployment Insurance (SUI)
The formula is:
Gross income × State payroll tax rate = State payroll tax liability
Step 3 – Local income tax
Some cities or counties impose local income tax. Local tax liability is usually based on state taxable income.
The formula is:
(Gross income adjusted or State taxable income) × Local income tax rate = Local income tax liability
Step 4 – Total income tax
The final step is to sum up all the income tax liabilities.
The formula is:
Federal income tax liability + Federal payroll tax liability + State income tax liability + State payroll tax liability + Local income tax liability = Your total income tax liability
Federal Insurance Contributions Act (FICA)
The two mandatory payroll taxes that make up the FICA tax are Social Security and Medicare, and employees and employers must contribute an equal amount to each tax. However, self-employed individuals are responsible for paying the full amount themselves.
Social Security
| Tax year | Employment status | Gross income | Rate |
|---|---|---|---|
| 2024 | Employer | Up to $168,600 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2023 | Employer | Up to $160,200 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2022 | Employer | Up to $147,000 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2021 | Employer | Up to $142,800 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% | ||
| 2020 | Employer | Up to $137,700 | 6.20% |
| Employee | 6.20% | ||
| Self-employed | 12.40% |
Medicare
| Tax year | Employment status | Filing status | Gross income | Rate |
|---|---|---|---|---|
| 2024 2023 2022 2021 2020 |
Employer | Single & Head of Household | Up to $200,000 | 1.45% |
| Married Jointly | Up to $250,000 | |||
| Married Separately | Up to $125,000 | |||
| Single & Head of Household | $200,000 and over | 2.35% | ||
| Married Jointly | $250,000 and over | |||
| Married Separately | $125,000 and over | |||
| Employee | Single & Head of Household | Up to $200,000 | 1.45% | |
| Married Jointly | Up to $250,000 | |||
| Married Separately | Up to $125,000 | |||
| Single & Head of Household | $200,000 and over | 2.35% | ||
| Married Jointly | $250,000 and over | |||
| Married Separately | $125,000 and over | |||
| Self-employed | Single & Head of Household | Up to $200,000 | 2.90% | |
| Married Jointly | Up to $250,000 | |||
| Married Separately | Up to $125,000 | |||
| Single & Head of Household | $200,000 and over | 3.80% | ||
| Married Jointly | $250,000 and over | |||
| Married Separately | $125,000 and over |
Federal income tax brackets
The federal tax brackets differ every year as IRS adjusts them for inflation. For the latest on federal income tax brackets, refer to Tax Foundation.
Regards to state income tax brackets it varies from state to state. Some states have had the same rate for years, and some adjust their brackets every year.
| Tax year | Filing status | Taxable income | Rate |
|---|---|---|---|
| 2024 | Single | $0 - $11,600 | 10% |
| $11,601 - $47,150 | 12% | ||
| $47,151 - $100,525 | 22% | ||
| $100,526 - $191,950 | 24% | ||
| $191,951 - $243,725 | 32% | ||
| $243,726 - $609,350 | 35% | ||
| $609,351 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $23,200 | 10% | |
| $23,221 - $94,300 | 12% | ||
| $94,301 - $201,050 | 22% | ||
| $201,051 - $383,900 | 24% | ||
| $383,901 - $487,450 | 32% | ||
| $487,451 - $731,200 | 35% | ||
| $731,201 and over | 37% | ||
| Married, Filing Separately | $0 - $11,600 | 10% | |
| $11,601 - $47,150 | 12% | ||
| $47,151 - $100,525 | 22% | ||
| $100,526 - $191,950 | 24% | ||
| $191,951 - $243,725 | 32% | ||
| $243,726 - $365,600 | 35% | ||
| $365,601 and over | 37% | ||
| Head of Household | $0 - $16,550 | 10% | |
| $16,551 - $63,100 | 12% | ||
| $63,101 - $100,500 | 22% | ||
| $100,501 - $191,950 | 24% | ||
| $191,951 - $243,700 | 32% | ||
| $243,701 - $609,350 | 35% | ||
| $609,351 and over | 37% | ||
| 2023 | Single | $0 - $11,000 | 10% |
| $11,001 - $44,725 | 12% | ||
| $44,726 - $95,375 | 22% | ||
| $95,376 - $182,100 | 24% | ||
| $182,101 - $231,250 | 32% | ||
| $231,251 - $578,125 | 35% | ||
| $578,126 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $22,000 | 10% | |
| $22,001 - $89,450 | 12% | ||
| $89,451 - $190,750 | 22% | ||
| $190,751 - $364,200 | 24% | ||
| $364,201 - $462,500 | 32% | ||
| $462,501 - $693,750 | 35% | ||
| $693,751 and over | 37% | ||
| Married, Filing Separately | $0 - $11,000 | 10% | |
| $11,001 - $44,725 | 12% | ||
| $44,726 - $95,375 | 22% | ||
| $95,376 - $182,100 | 24% | ||
| $182,101 - $231,250 | 32% | ||
| $231,251 - $346,875 | 35% | ||
| $346,876 and over | 37% | ||
| Head of Household | $0 - $15,700 | 10% | |
| $15,701 - $59,850 | 12% | ||
| $59,851 - $95,350 | 22% | ||
| $95,351 - $182,100 | 24% | ||
| $182,101 - $231,250 | 32% | ||
| $231,251 - $578,100 | 35% | ||
| $578,101 and over | 37% | ||
| 2022 | Single | $0 - $10,275 | 10% |
| $10,276 - $41,775 | 12% | ||
| $41,776 - $89,075 | 22% | ||
| $89,076 - $170,050 | 24% | ||
| $170,051 - $215,950 | 32% | ||
| $215,951 - $539,900 | 35% | ||
| $539,901 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $20,550 | 10% | |
| $20,551 - $83,550 | 12% | ||
| $83,551 - $178,150 | 22% | ||
| $178,151 - $340,100 | 24% | ||
| $340,101 - $431,900 | 32% | ||
| $431,901 - $647,850 | 35% | ||
| $647,851 and over | 37% | ||
| Married, Filing Separately | $0 - $10,275 | 10% | |
| $10,276 - $41,775 | 12% | ||
| $41,776 - $89,075 | 22% | ||
| $89,076 - $170,050 | 24% | ||
| $170,051 - $215,950 | 32% | ||
| $215,951 - $323,925 | 35% | ||
| $323,926 and over | 37% | ||
| Head of Household | $0 - $14,650 | 10% | |
| $14,651 - $55,900 | 12% | ||
| $55,901 - $89,050 | 22% | ||
| $89,051 - $170,050 | 24% | ||
| $170,051 - $215,950 | 32% | ||
| $215,951 - $539,900 | 35% | ||
| $539,901 and over | 37% | ||
| 2021 | Single | $0 - $9,950 | 10% |
| $9,951 - $40,525 | 12% | ||
| $40,526 - $86,375 | 22% | ||
| $86,376 - $164,925 | 24% | ||
| $164,926 - $209,425 | 32% | ||
| $209,426 - $523,600 | 35% | ||
| $523,601 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $19,900 | 10% | |
| $19,901 - $81,050 | 12% | ||
| $81,051 - $171,050 | 22% | ||
| $172,751 - $329,850 | 24% | ||
| $329,851 - $418,850 | 32% | ||
| $418,851 - $628,300 | 35% | ||
| $628,301 and over | 37% | ||
| Married, Filing Separately | $0 - $9,950 | 10% | |
| $9,951 - $40,525 | 12% | ||
| $40,526 - $86,375 | 22% | ||
| $86,376 - $164,925 | 24% | ||
| $164,926 - $209,425 | 32% | ||
| $209,426 - $314,150 | 35% | ||
| $314,151 and over | 37% | ||
| Head of Household | $0 - $14,200 | 10% | |
| $14,201 - $54,200 | 12% | ||
| $54,201 - $86,350 | 22% | ||
| $86,351 - $164,900 | 24% | ||
| $164,901 - $209,400 | 32% | ||
| $209,401 - $523,600 | 35% | ||
| $523,601 and over | 37% | ||
| 2020 | Single | $0 - $9,875 | 10% |
| $9,876 - $40,125 | 12% | ||
| $40,126 - $85,525 | 22% | ||
| $85,526 - $163,300 | 24% | ||
| $163,301 - $207,350 | 32% | ||
| $207,351 - $518,400 | 35% | ||
| $518,401 and over | 37% | ||
| Married, Filing Jointly or Widow(er) | $0 - $19,750 | 10% | |
| $19,751 - $80,250 | 12% | ||
| $80,251 - $171,050 | 22% | ||
| $171,051 - $326,600 | 24% | ||
| $326,601 - $414,700 | 32% | ||
| $414,701 - $622,050 | 35% | ||
| $622,051 and over | 37% | ||
| Married, Filing Separately | $0 - $9,875 | 10% | |
| $9,876 - $40,125 | 12% | ||
| $40,126 - $85,525 | 22% | ||
| $85,526 - $163,300 | 24% | ||
| $163,301 - $207,350 | 32% | ||
| $207,351 - $311,025 | 35% | ||
| $311,026 and over | 37% | ||
| Head of Household | $0 - $14,100 | 10% | |
| $14,101 - $53,700 | 12% | ||
| $53,701 - $85,500 | 22% | ||
| $85,501 - $163,300 | 24% | ||
| $163,301 - $207,350 | 32% | ||
| $207,351 - $518,400 | 35% | ||
| $518,401 and over | 37% |
Retirement contributions
There is an annual limit on how much you can contribute to your retirement funds.
The maximum employee 401(k) contribution limit for the tax year 2022 is $20,500 for those under 50 and $27,000 for those over 50 or older. For IRA contributions, the yearly limit is $6,000 ($7,000 if you’re age 50 or older) for the tax year 2022.
| Tax type | Tax year | Age | Limit |
|---|---|---|---|
| 401(k) | 2023 | Under 50 | $22,500 |
| Over 50 | $30000 | 2022 | Under 50 | $20,500 |
| Over 50 | $27,000 | ||
| 2021 | Under 50 | $19,500 | |
| Over 50 | $26,000 | ||
| IRA | 2023 | Under 50 | $6,500 |
| Over 50 | $7,500 | 2022 2021 2020 |
Under 50 | $6,000 |
| Over 50 | $7,000 |
State standard deduction
You can use the standard deduction or itemize deductions in your income tax calculation. As a thumb of rule, if your itemized deductions are less than the standard deduction, it is wiser to claim the standard deduction amount.
For a list of itemizable deductions, refer to Dough Roller’s ultimate list.
| Tax year | Filing status | Standard deduction amount |
|---|---|---|
| 2024 | Single | $14,600 |
| Married, Filing Jointly | $29,200 | |
| Married, Filing Separately | $14,600 | |
| Head of Household | $21,900 | |
| 2023 | Single | $13,850 |
| Married, Filing Jointly | $27,700 | |
| Married, Filing Separately | $13,850 | |
| Head of Household | $20,800 | |
| 2022 | Single | $12,950 |
| Married, Filing Jointly | $25,900 | |
| Married, Filing Separately | $12,950 | |
| Head of Household | $19,400 | |
| 2021 | Single | $12,550 |
| Married, Filing Jointly | $25,100 | |
| Married, Filing Separately | $12,550 | |
| Head of Household | $18,800 | |
| 2020 | Single | $12,200 |
| Married, Filing Jointly | $24,400 | |
| Married, Filing Separately | $12,200 | |
| Head of Household | $18,350 |
FAQs
How to calculate income tax?
Follow the steps below to work out your income tax liability.
- Work out your total federal income tax
- Calculate your total state income tax
- Derive your local income tax liability
- Sum up all the taxes
How much income tax do I pay?
The exact amount depends on multiple factors such as your total taxable income, state of residence, filing status, etc. For a precise estimate, use our free online income tax calculator.