Income Tax Calculator
Estimate your U.S. federal income tax from wages, interest, and capital gains using 2024 brackets, the standard deduction, and child tax credits. See your marginal bracket, effective rate, and whether you get a refund or owe.
TheCalculators — Income Tax Calculator
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Estimated Amount Owed
$441
Total federal tax $9,441 on $80,000 gross income (2024 brackets)
- Gross Income
- $80,000
- Deduction Applied
- $14,600
- Taxable Ordinary Income
- $65,400
- Tax on Ordinary Income
- $9,441
- Tax on Long-Term Gains
- $0
- Child Tax Credits
- -$0
- Total Federal Tax
- $9,441.00
- Effective Rate
- 11.80%
- Marginal Rate
- 22%
- Withheld
- $9,000
Bracket breakdown (ordinary income)
Where your gross income goes
- Take-home (pre-FICA)$70,559
- Federal tax$9,441
Simplified 2024 federal estimate: ordinary brackets + preferential LTCG rates + $2,000 child tax credit per qualifying child. Excludes FICA, state tax, AMT, and other credits (EITC, education).
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Formula
Tax = Σ (income in bracket × bracket rate) + LTCG × (0/15/20%) − credits; Refund/Owed = withheld − tax
Pro tips
- • A refund is an interest-free loan to the government — adjusting your W-4 gets that money in each paycheck.
- • Long-term gains held over a year are taxed at 0–20%, well below ordinary rates; short-term gains are not.
FAQ
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