Tax Calculator
Estimate income tax with US and Canada 2024 brackets.
Total Tax
$11,553
After Tax
$63,447
Effective Rate
15.4%
Tax Breakdown (US 2024 Single Filer)
| Bracket | Rate | Taxable | Tax |
|---|---|---|---|
| $0 – $11,600 | 10% | $11,600 | $1,160 |
| $11,600 – $47,150 | 12% | $35,550 | $4,266 |
| $47,150 – $100,525 | 22% | $27,850 | $6,127 |
What It Does
This income tax calculator estimates your federal tax liability using 2024 brackets for both the United States and Canada. Enter your gross income and see a full bracket-by-bracket breakdown, your effective tax rate, and your estimated after-tax take-home amount.
How Progressive Brackets Work
A common misconception is that earning more pushes all your income into a higher bracket. In reality, each bracket rate only applies to the income within that range. For example, if the 22% bracket starts at $47,150, only income above that threshold is taxed at 22% — not your entire income.
Quick Reference: US 2024 Brackets (Single Filer)
10%— $0 to $11,60012%— $11,601 to $47,15022%— $47,151 to $100,52524%— $100,526 to $191,95032%— $191,951 to $243,72535%— $243,726 to $609,35037%— above $609,350
Tips for Accurate Estimates
For a closer estimate, first subtract your expected deductions (the 2024 standard deduction is $14,600 for single filers and $29,200 for married filing jointly) from your gross income before entering the figure. This tool does not account for state or provincial taxes, self-employment tax, or FICA contributions.
Frequently Asked Questions
- What is the difference between marginal rate and effective tax rate?
- Your marginal rate is the rate applied to each additional dollar of income within a bracket. Your effective rate is your total tax divided by total income — it is always lower than your marginal rate because lower brackets apply to the first portions of your income.
- What are the 2024 US federal income tax brackets?
- For single filers in 2024: 10% up to $11,600; 12% up to $47,150; 22% up to $100,525; 24% up to $191,950; 32% up to $243,725; 35% up to $609,350; 37% above $609,350. Married filing jointly brackets are roughly doubled.
- Does this calculator account for deductions or credits?
- The calculator uses gross income against the tax brackets. It does not apply the standard deduction, itemized deductions, or tax credits. For a more accurate estimate, subtract your deductions from gross income before entering the amount.
- How does Canada's federal tax work compared to the US?
- Canada uses a similar progressive bracket system at the federal level, with provincial taxes added on top. The federal brackets for 2024 are: 15% up to $55,867; 20.5% up to $111,733; 26% up to $154,906; 29% up to $220,000; 33% above that.
- Is this tool suitable for filing taxes?
- No. This is an estimator for planning and educational purposes only. Always use official CRA or IRS guidance, or consult a tax professional, when preparing and filing your actual return.