To calculate your effective tax rate, you need two numbers: the total amount you paid in taxes and your taxable income for ...

Federal tax brackets example: If you had $50,000 of taxable income in 2024 as a single filer, you’d pay 10% on that first $11,600 and 12% on the chunk of income between $11,601 and $47,150.

Overview of 2024 tax brackets Below are the federal income tax brackets for single filers, heads of household, qualifying surviving spouses, and married people who file either jointly or ...

Understanding how the income ... marginal tax rates. The U.S. currently has seven tax brackets, ranging from 10% to 37%. These are different depending on tax filing status: single, married filing ...