Taxfyle's free tax bracket calculator is a simple, easy way to estimate your federal income tax bracket and total tax.
Taxfyle tax Pros are credentialed, background-checked, and rated on average 4.6 out of 5 stars. With excellence and confidence being are our commitment to you, we vet and onboard only the most knowledgeable and qualified tax professionals so you can rest assured you’ll have the best Pro working for you at all times.
“For the price of a “tax advisor,” who has two weeks training, you get a CPA that you can rest assured understands what they are doing. It’s worth it for the peace of mind if nothing else.”
A "tax bracket" is a category used to define your highest possible tax rate, based on your filing status and taxable income. In other words, your income determines the bracket you will be placed in, and the higher your income, the higher your tax rate (from 10% to 37%).
The only way to lower your tax bracket is to reduce your taxable income. However, there are many ways to lower your fees. Among these are tax credits, deductions, and exemptions, all of which are major players in the tax saving game.
A tax bracket refers to a range of incomes subject to a certain income tax rate. Tax brackets result in a progressive tax system, in which taxation progressively increases as an individual’s income grows (Investopedia)
The minimum tax bracket in the US is 37%. For single filers, it's $0 - $9,875. For married, filing jointly filers, it's $0 - $19,750.
Taxpayers in the highest bracket pay 37% of their ordindary income that is over $518,401 for single filers ($622,501 if married filing jointly).
You can enter your ordinary income into our tax bracket calculator and it will tell your tax rate.
There are seven total tax brackets - 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
It's possible that a short-term capital gain—or at least part of it—might be taxed at a higher rate than your regular earnings. That's because it might cause part of your overall income to jump into a higher tax bracket. (Investopedia)
Estimate your tax refund with our free, online income tax calculator.
Prepare your business for tax season using our tax calculator.
Track your IRS tax refund and estimate its time of arrival.