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Federal income tax
Computed on gross income, less the federal Child Tax Credit ($2,000 per child under 17, phasing out above $200k single / $400k married). Still simplified — it ignores the standard deduction, other credits, the refundable-credit cap, and payroll (FICA) taxes.
On $150,000 of income · 2024 · Single. Marginal brackets — each slice of income is taxed at its own rate.
| Bracket | Rate | Your income | Tax |
| $0 – $11,600 | 10.00% | $11,600 | $1,160 |
| $11,600 – $47,150 | 12.00% | $35,550 | $4,266 |
| $47,150 – $100,525 | 22.00% | $53,375 | $11,743 |
| $100,525 – $191,950 | 24.00% | $49,475 | $11,874 |
| $191,950 – $243,725 | 32.00% | — | — |
| $243,725 – $609,350 | 35.00% | — | — |
| $609,350 and up | 37.00% | — | — |
| Total | $29,043 | ||