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Here’s how that works for a single person with taxable income of $58,000 per year: 2023 tax rates for other filers. Find the current tax rates for other filing statuses. Married filing jointly or qualifying surviving spouse. Married filing separately. Head of household. Tax rates and tables. See the 2023 . Find the 2024 . Related.
The seven federal income tax brackets for 2024 and 2025 are 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your bracket depends on your taxable income and filing status.
A married couple are filing a joint return. Their taxable income on Form 1040, line 15, is $25,300. First, they find the $25,300-25,350 taxable income line. Next, they find the column for married filing jointly and read down the column.
Married couples filing jointly will see a deduction of $29,200, a boost of $1,500 from 2023, while heads of household will see a jump to $21,900 for heads of household, an increase of $1,100 from...
The AMT exemption amount for 2023 is $81,300 for singles and $126,500 for married couples filing jointly (Table 3).
For example, if you’re Married Filing Jointly for 2024 taxes with a taxable income of $95,000, you’d fall under the 22% tax bracket even though a majority of your taxable income ($94,300) falls under the 12% tax bracket.
The AMT exemption amount for 2022 is $75,900 for singles and $118,100 for married couples filing jointly (Table 3).