Federal and State Income Taxes: See What You Owe
Use this tool to estimate your marginal and effective tax rates after taking the standard deduction.
The United States has a graduated income tax system where the federal tax rates get progressively higher as your taxable income increases. So, being in the 22% tax bracket doesn’t mean that you’re paying 22% on every dollar you make. Your effective tax rate, or what you actually pay, is likely lower, especially once you take any tax deductions that you qualify for. Deductions lower your taxable income, thereby reducing your tax bill.
The tool below can help you estimate what you’ll owe if you take the standard deduction.
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