Estimate your 2024 U.S. federal income taxes in minutes with our Income Tax Calculator. Enter your income, choose your filing status, and see how deductions, credits, and withholding affect your refund or amount owed.
How the Income Tax Calculator works
Our calculator follows the 2024 U.S. federal tax brackets and standard deductions for each filing status. It estimates your Adjusted Gross Income (AGI), compares the standard deduction to your itemized deductions, and applies progressive tax rates to your taxable income. Finally, it subtracts any nonrefundable credits you enter and compares the estimated tax to your withholding to estimate your refund or balance due.
What you’ll need to get started
- Your filing status: Single, Married Filing Jointly, Married Filing Separately, or Head of Household
- Your wage and salary income, plus other taxable income (interest, dividends, side income)
- Adjustments above the line (e.g., traditional IRA, HSA contributions, student loan interest)
- Whether you’re taking the standard deduction or itemizing, and the itemized total if applicable
- Any nonrefundable credits (e.g., Child Tax Credit, education credits)
- Federal tax withheld from paychecks and estimated payments
Understanding the 2024 standard deduction
The standard deduction reduces your taxable income before tax is calculated. For 2024, it is $14,600 for Single and Married Filing Separately, $21,900 for Head of Household, and $29,200 for Married Filing Jointly. If you or your spouse (for MFJ) are age 65 or older, you may qualify for an additional standard deduction: $1,950 per person for Single/Head of Household and $1,550 per person for Married Filing Jointly or Separately.
When itemizing can make sense
If your allowable itemized deductions exceed your standard deduction, itemizing can lower your tax. Common itemized deductions include mortgage interest, state and local taxes (subject to limits), charitable contributions, and certain medical expenses. Our Income Tax Calculator lets you enter an itemized total to compare against the standard deduction automatically.
How taxes are calculated
Federal income tax uses a progressive system with multiple tax brackets. Each portion of your taxable income is taxed at the rate for that bracket. The calculator applies the correct 2024 brackets for your filing status and totals the tax across all tiers. After computing tax on taxable income, it subtracts any nonrefundable credits you enter to estimate your final federal liability.
Refund vs. amount owed
Your refund or balance due depends on how much tax has already been paid through withholding and estimated payments. If your total payments exceed the estimated tax, you’ll see an estimated refund. If they fall short, you’ll see an amount owed.
Tips for accurate results
- Use year-to-date pay stub totals or last year’s return as a starting point.
- Include all taxable income sources and adjustments.
- Be realistic with deductions and credits; keep documentation.
- Update your estimate after major life changes (marriage, new job, home purchase).
- Consider adjusting withholding or making estimated payments if you expect to owe.
Important limitations
This tool provides a simplified estimate and does not address every tax situation, such as the Alternative Minimum Tax (AMT), Net Investment Income Tax (NIIT), credit phaseouts, self-employment tax, qualified business income (QBI) deduction, or specific limitations on itemized deductions. For personalized advice, consult a qualified tax professional.
Get started now
Enter your details in the Income Tax Calculator above and click “Calculate Tax.” You’ll instantly see your estimated AGI, deductions, taxable income, tax before and after credits, marginal and effective rates, and whether you’re on track for a refund or balance due.