What's My 2024 Tax Bracket?

Every year, the IRS evaluates and adjusts certain tax provisions to account for inflation. Below are the latest adjustments for the 2024 tax year - including common income, dividends, and gain tax brackets. 

When discussing tax brackets that change every year, it can be helpful to round these arbitrary beginning and endpoints. For instance, the 24% income tax bracket begins at $201,051 and ends at $383,900 for married filers. We can round this bracket to "$200,000 to $380,000" and make an initial tax conversation more effective.

What bracket will your income fall into below?

Rounded Tax Brackets (2024, Federal)

Open Window's Rounded Rates on Taxable Income & Gains

Married (2024)

Single (2024)

◊ Qualified Business Income Deduction (QBI - Sec. 199A) < $191,950 Single, Filers < $383,900 Married Filers.

[1], 3 “Medicare” surtax of +3.8% on net investment income (or MAGI – threshold) for incomes >$200,000 Single Filers, >$250,000 Married Filers. 

[2], 4 20% rates for incomes ≥$518,900 Single Filers, ≥$583,750 Married Filers.

www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 

We Speak Tax

What is your tax strategy for 2024? 

Or, if you've never had someone walk through your past tax returns and explain where the amounts came from and how your total tax is calculated, ask us to do so today. 

Call us at (775) 827-0670 or schedule a Quick Connection time with us at www.openwindowFS.com/connection.

Exact Tax Brackets (2024, Federal)

Exact Rates on Taxable Income & Gains

All Filing Statuses (2024)