2024 Federal
Tax Bracket
The IRS adjusts tax brackets annually based on inflation and other factors. This page will provide the updated tax brackets for the 2024 tax year as soon as they are released.
Tax Bracket for Single Tax Filers
| Taxable Income Range (USD) | Tax Rate (%) |
| $0 – $11,600 | 10% |
| $11,601 – $47,150 | 12% |
| $47,151 – $100,525 | 22% |
| $100,526 – $191,950 | 24% |
| $191,951 – $243,725 | 32% |
| $243,726 – $609,350 | 35% |
| Over $609,350 | 37% |
Tax Bracket for Married Filing Jointly or Qualifying Widow
| Taxable Income Range (USD) | Tax Rate (%) |
|---|---|
| $0 – $23,200 | 10% |
| $23,201 – $94,300 | 12% |
| $94,301 – $201,050 | 22% |
| $201,051 – $383,900 | 24% |
| $383,901 – $487,450 | 32% |
| $487,451 – $731,200 | 35% |
| Over $731,200 | 37% |
Married Filing Separately Tax Bracket
| Taxable Income | Tax Rate |
| $0 to $9,225 | 10% |
| $9,226 to $37,450 | $922.50 plus 15% of the amount over $9,225 |
| $37,451 to $75,600 | $5,156.25 plus 25% of the amount over $37,450 |
| $75,601 to $115,225 | $14,693.75 plus 28% of the amount over $75,600 |
| $115,226 to $205,750 | $25,788.75 plus 33% of the amount over $115,225 |
| $205,751 to $232,425 | $55,662.00 plus 35% of the amount over $205,750 |
| $232,426 or more | $64,998.25 plus 39.6% of the amount over $232,425 |
Head of Household Tax Bracket
| Taxable Income | Tax Rate |
| $0 to $13,150 | 10% |
| $13,151 to $50,200 | $1,315.00 plus 15% of the amount over $13,150 |
| $50,201 to $129,600 | $6,872.50 plus 25% of the amount over $50,200 |
| $129,601 to $209,850 | $26,772.50 plus 28% of the amount over $129,600 |
| $209,851 to $411,500 | $49,192.50 plus 33% of the amount over $209,850 |
| $411,501 to $439,000 | $115,737.00 plus 35% of the amount over $411,500 |
| $439,001 or more | $125,362.00 plus 39.6% of the amount over $439,000 |
2018 Personal Exemption
You are allowed to claim one personal exemption for yourself and one for your spouse (if married). However, if somebody else can list you as a dependent on their tax return, you are not permitted to claim a personal exemption for yourself.
For tax year 2018, the personal exemption amount is $4,000 (up from $3,950 in 2017).
The personal exemption was eliminated for the 2018 tax year. The only way you to take an exemption is if you are filing an amended return for a prior year. If you have any questions, please give us a call.
