Tax Calculator
Easily estimate your income tax based on filing status, income, deductions, and tax credits. Designed for both convenience and clarity—fully responsive and optimized for PDF export.
How Does This Tax Calculator Work?
This tax calculator helps estimate your total tax liability by considering your filing status, income sources, deductions, credits, and withholdings. It uses current U.S. federal tax brackets and standard deduction amounts, along with the option for state/local flat tax rate estimation. Your Adjusted Gross Income (AGI) is computed after deductions, and the result shows estimated taxes owed or refund due.
Tax Brackets & Standard Deduction (2024)
- Single: $14,600 standard deduction
- Married Filing Jointly: $29,200 standard deduction
- Married Filing Separately: $14,600 standard deduction
- Head of Household: $21,900 standard deduction
- Qualifying Widow(er): $29,200 standard deduction
Key Definitions
- AGI (Adjusted Gross Income): Total income minus deductions (IRA, student loan interest, etc.).
- Standard Deduction: Set amount reducing taxable income, varies by filing status.
- Withholding: Federal/state tax taken out of your paycheck and credited against your total tax owed.
- Tax Credits: Directly reduce tax owed (e.g., Child Tax Credit, Education Credits).
Estimating Your Refund
If your total tax withholdings exceed your calculated tax liability, you’ll see a refund. Otherwise, you’ll owe the difference.
Disclaimer
This tool is for estimation purposes only. Consult a licensed tax professional for personalized advice or to address complex situations!