federal tax brackets

Here are the 2023 and 2024 federal income tax brackets and the standard deduction.

It’s the most wonderful time of the year—for tax accountants.

Americans have until April 15th, 2024, to file their 2023 federal income taxes. It’s also time to start thinking about your 2024 income taxes.

You might say it’s too early to think about 2024 tax brackets and deductions, but understanding your tax bracket can help you make all sorts of helpful financial decisions, especially if you’re on the line between two tax brackets.

Related: Cash App Taxes Review

The 2023 and 2024 Standard Deduction

The Tax Cuts and Jobs Act of 2017 more than doubled the amount for standard deductions, meaning more taxpayers than ever have stopped itemizing and are claiming the standard deduction.

But it’s still good to keep track of your tax-deductible expenses because if they are higher than your standard deduction, you could save some money on your taxes next year.

Filing status2023 standard deduction
Married, filing separately$13,850
Married, filing jointly; qualified widow(er)$27,700
Head of household$20,800
Filing status2024 standard deduction
Married, filing separately$14,600
Married, filing jointly; qualifying widow(er)$29,200
Head of household$21,900

Remember, even if you take the standard deduction, you can still claim certain deductions and credits without itemizing.

How Income Tax Brackets Work

There are seven federal income tax brackets in the U.S., ranging from 10% to 37%. These rates apply to taxable income.

2023 IRS Federal Tax Brackets (for taxes filed in 2024)

For income earned in 2023, the income tax brackets are:

2023 Tax Brackets

Tax RateSingleMarried filing jointlyMarried filing separatelyHead of household
10%$11,000 or less$22,000 or less$11,000 or less$15,700 or less
12%$11,001 to $44,725$22,001 to $89,450$11,001 to $44,725$15,701 to $59,850
22%$44,726 to 95,375$89,451 to $190,750$44,726 to $95,375$59,851 to $95,350
24%$95,376 to $182,100$190,751 to $364,200$95,376 to $182,100$95,351 to $182,100
32%$182,101 to $231,250$364,201 to $462,500$182,101 to $231,250$182,101 to $231,250
35%$231,251 to $578,125$462,501 to $693,750$231,251 to $346,875$231,251 to $578,100
37%Over $578,125Over $693,750Over $346,875Over $578,100

Tax brackets divide your income into levels that are taxed at different rates. Being in one tax bracket doesn’t mean all your income is taxed at that rate; every bracket is taxed at its own rate.

For example, suppose you’re a single filer who made $40,000 in 2023. After taking the standard deduction of $13,850, your taxable income is $26,150. That puts you in the 12% tax bracket. Still, the first $11,000 in taxable income would be subject to 10% income tax. Only the amount over $11,000 would be subject to the 12% rate.

2024 Federal Tax Brackets (for taxes filed in 2025)

For income earned in 2024, the income tax brackets are as follows:

Tax RateSingleMarried filing jointlyMarried filing separatelyHead of household
10%$11,600 or less$23,200 or less$11,600 or less$16,550 or less
12%$11,601 to $47,150$23,201 to $94,300$11,600 to $47,150$16,551 to $63,100
22%$47,151 to $100,525$94,301 to $201,050$47,151 to $100,525$63,101 to $100,500
24%$100,526 to $191,950$201,051 to $383,900$100,526 to $191,950$100,501 to $191,950
32%$191,951 to $243,725$383,901 to $487,450$191,951 to $243,725$191,951 to $243,700
35%$243,726 to $609,350$487,451 to $731,200$243,726 to $365,600$234,701 to $609,350
37%Over $609,350Over $731,200Over $365,600Over $609,350


If I move to a higher tax bracket, is all my income taxed at a higher rate?

No, if you move to a higher tax bracket, only the income in that bracket gets taxed at the higher rate.

What is a head of household?

Head of household is a special tax filing status. According to the IRS, to qualify as a head of household, you must not be married or not live with your spouse for the majority of the year. You must also be responsible for at least half the cost of supporting a qualifying person, typically a child or parent.

How can I get into a lower tax bracket?

You can get into a lower tax bracket by reducing your taxable income. While making less money is one way to do this, it isn’t a strategy most people want to pursue. Other ways to reduce your taxable income include taking deductions or contributing to retirement accounts that let you deduct contributions from your income.

Did the tax brackets change?

Tax law changes frequently. Each year, the income bands for each tax bracket adjust for inflation, meaning they usually increase.

The government occasionally changes the number of tax brackets or the tax rate for each bracket. For example, in 2017, the highest tax bracket was taxed at 39.7%, but in 2018, the rate dropped to 37%.

What’s the difference between free and paid tax software?

Many programs can help you file your taxes, some of which are free, and some cost money. Generally, paid services are more likely to have a better user experience and be easier to use. They’re also more likely to offer better customer support as they have more money to pay for programmers and support staff.

If you need a lot of help with your taxes, a paid program may be a good choice. Those who are more comfortable with filing taxes may be able to get by with a free program, saving them money.

Next Steps

An estimated 90% of tax filers will take their standard deduction. If you plan on having significant deductible expenses this year, keep track of them in case they exceed your standard deduction. You can still make tax-deductible contributions to your 401(k). Also, if you didn’t max out your IRA for the previous tax year, you have until April 18th this year to add more.

If you want software to help you file taxes, check out our list of the best tax software.


  • Rob Berger

    Rob Berger is the founder of Dough Roller and the Dough Roller Money Podcast. A former securities law attorney and Forbes deputy editor, Rob is the author of the book Retire Before Mom and Dad. He educates independent investors on his YouTube channel and at RobBerger.com.