Calculator Data
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Standard deduction for single filers
💡 Tax Information
• Federal Tax: Progressive rates from 10% to 37% (2024 brackets)
• Social Security: 6.2% on income up to $160,200
• Medicare: 1.45% on all income + 0.9% on income over $200k
• State Tax: Estimated at 5% average (varies by state)
• Effective Rate: Total taxes ÷ gross income
• Marginal Rate: Tax rate on your last dollar earned
Quick Examples (Annually)
Insights
Calculator Data
0 calculations
Standard deduction for single filers
💡 Tax Information
• Federal Tax: Progressive rates from 10% to 37% (2024 brackets)
• Social Security: 6.2% on income up to $160,200
• Medicare: 1.45% on all income + 0.9% on income over $200k
• State Tax: Estimated at 5% average (varies by state)
• Effective Rate: Total taxes ÷ gross income
• Marginal Rate: Tax rate on your last dollar earned
Quick Examples (Annually)
Insights
Standard deduction for single filers
💡 Tax Information
• Federal Tax: Progressive rates from 10% to 37% (2024 brackets)
• Social Security: 6.2% on income up to $160,200
• Medicare: 1.45% on all income + 0.9% on income over $200k
• State Tax: Estimated at 5% average (varies by state)
• Effective Rate: Total taxes ÷ gross income
• Marginal Rate: Tax rate on your last dollar earned
Quick Examples (Annually)
History
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