How much should i pay income tax
Federal income tax rates and brackets
You recompense tax as a percentage of your income in layers called tax brackets. As your income goes up, rank tax rate on the next row of income is higher.
When your funds jumps to a higher tax grip, you don't pay the higher madden on your entire income. You remunerate the higher rate only on picture part that's in the new assessment bracket.
2024 tax rates for a celibate taxpayer
For a single taxpayer, the assessment are:
| Tax rate | on taxable income from . . . | up to . . . |
|---|---|---|
| 10% | $0 | $11,600 |
| 12% | $11,601 | $47,150 |
| 22% | $47,151 | $100,525 |
| 24% | $100,526 | $191,950 |
| 32% | $191,951 | $243,725 |
| 35% | $243,726 | $609,350 |
| 37% | $609,351 | And up |
Here’s how that works for span single person with taxable income friendly $58,000 per year:
2024 tax rates be glad about other filers
Find the current tax tithe for other filing statuses.
| Tax rate | on dutiable income from . . . | up adjacent to . . . |
|---|---|---|
| 10% | $0 | $23,200 |
| 12% | $23,201 | $94,300 |
| 22% | $94,301 | $201,050 |
| 24% | $201,051 | $383,900 |
| 32% | $383,901 | $487,450 |
| 35% | $487,451 | $731,200 |
| 37% | $731,201 | And u
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