2024 Tax Brackets And Standard Deduction

2024 Tax Brackets And Standard Deduction. Your bracket depends on your taxable income and filing status. The seven federal income tax brackets for 2024 and 2025 are 10%, 12%, 22%, 24%, 32%, 35% and 37%.


2024 Tax Brackets And Standard Deduction

The standard tax deduction is a set amount that taxpayers are automatically allowed to deduct from their taxable income, thus lowering their total tax owed. New 2024 income tax brackets and a higher standard deduction may mean tax cuts for many americans.

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