Federal Income Tax Calculator
Calculate your federal tax liability for 2024 based on your income and filing status
Tax Information
Enter your income and tax details for 2024
Standard or itemized deductions
Child tax credit, education credits, etc.
Taxable Income
$0.00
Federal Tax Owed
$0.00
Effective Tax Rate
0.00%
Marginal Tax Rate
0%
Tax Breakdown by Bracket
See how your income is taxed across different tax brackets
| Tax Rate | Income in Bracket | Tax on Bracket |
|---|
Tax Planning Strategies
Ways to Reduce Taxable Income
- •Contribute to 401(k) or traditional IRA (pre-tax)
- •Max out HSA contributions (triple tax advantage)
- •Consider itemized deductions if they exceed standard
- •Harvest tax losses in investment accounts
- •Contribute to 529 plans for education savings
Available Tax Credits
- •Child Tax Credit: Up to $2,000 per child
- •Earned Income Tax Credit (EITC) for lower incomes
- •American Opportunity Credit: Up to $2,500 for education
- •Lifetime Learning Credit for continuing education
- •Retirement Savings Contributions Credit (Saver's Credit)