How much you pay in income taxes depends on your tax filing status, and how much you earned in the tax year. And every year, the IRS slightly tweaks its tax brackets to adjust for inflation.
How do tax brackets work?
Contrary to popular belief, being in a tax bracket doesn’t mean you pay a flat percentage of your total income. The federal government breaks your income into chunks, and you pay a marginal tax rate for each chunk.
In a nutshell, different parts of your income get taxed at a different rate.
For example, if you’re a single tax filer who made $60,000 in 2024, you’ll pay a 10% tax on the first $11,600 you made. Then, you’re taxed 12% of the amount ranging from $11,601 to $47,151, and the remaining above $47,151 is taxed at 22%.
Federal tax brackets based on filing status
In 2025, we’re filing our taxes for the 2024 calendar year. Directly from the IRS, here are the 2024 federal income tax brackets based on if you’re filing single, head of household, married filing jointly or married filing separately.
2024 tax brackets for single filings
If you’re unmarried, divorced or legally separated, you’ll be filing as single.
Tax rate | Taxable income |
---|---|
10% | $0 to $11,600 |
12% | $11,601 to $47,150 |
22% | $47,151 to $100,525 |
24% | $100,526 to $191,950 |
32% | $191,951 to $243,725 |
35% | $243,726 to $609,350 |
37% | $609,351+ |
2024 tax brackets for head of household
Typically, filing as head of household puts you in a better tax bracket compared to filing as single. However, to file as head of household, you typically must claim a qualifying child or qualifying relative as a dependent.
Tax rate | Taxable income |
---|---|
10% | $0 to $16,550 |
12% | $16,551 to $63,100 |
22% | $63,101 to $100,500 |
24% | $100,501 to $191,950 |
32% | $191,951 to $243,700 |
35% | $243,701 to $609,350 |
37% | $609,351+ |
2024 tax brackets for married filing jointly
Most married couples file jointly, since that could make you eligible for more tax credits and/or deductions.
Tax rate | Taxable income |
---|---|
10% | Up to $23,200 |
12% | Over $23,201 to $94,300 |
22% | $94,301 to $201,050 |
24% | $201,051 to $383,900 |
32% | $383,901 to $487,450 |
35% | $487,451 to $731,200 |
37% | Over $731,201 |
2024 married filing separately
While it’s common for married couples to file jointly, you could also file separately, which might be preferred if you’re considering divorce, there’s a large income discrepancy, or one of you has tax liabilities.
Tax rate | Taxable income |
---|---|
10% | $0 to $11,600 |
12% | $11,601 to $47,150 |
22% | $47,151 to $100,525 |
24% | $100,526 to $191,950 |
32% | $191,951 to $243,725 |
35% | $243,726 to $365,600 |
37% | Over $365,601 |
Learn how tax brackets work in under four minutes
Can I lower my income tax rate?
Yes, you can lower your tax rate! Reducing your taxable income is called a deduction.
A standard deduction is a dollar amount that reduces the amount of taxable income. There are also itemized deductions, which are typically used in two scenarios: your itemized deductions total is greater than if you went with a standard deduction, or you must itemize deductions because you aren’t entitled to use the standard deduction.
You can also look into tax credits. Put simply, tax credit reduce how much you owe in taxes, while tax deductions simply reduce the amount of taxable income.
Common items you can write off on your taxes include:
- Charitable contributions
- Medical expenses
- Mortgage interest
- Property taxes
- States and local income taxes
- Business expenses
For help in locating tax deductions and tax credits talk to a tax professional, or try a tax software that searches for these helpful nuggets.
Bottom line
The way our current federal tax system is set up, the more income you earn, the more you pay in taxes. But just because you’re in one tax bracket doesn’t mean all your income is taxed at that rate. Instead, your income is broken up into chunks, and you pay a different rate for each one.
Regardless of which bracket you fall in, there are proven ways you can lower your tax bill each year thanks to deductions and credits.
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