Advanced Income Tax Calculator

Calculate your estimated U.S. federal tax refund or amount owed. Supports W-2 employees and self-employed individuals.

Average Refund

$3,167

Tax Brackets

7 Tiers

Max Tax Rate

37%

Tax Year

2024

W-2 Employee

Self-Employed

Compare

Tax Year 2024 Rates

Filing Status

Single

Married Jointly

Married Separate

Head of Household

Dependents $2,000 credit each

0 dependents

Wages, Salaries, Tips

$65,000

Federal Tax Withheld

Additional Income

Deductions

Standard Deduction

Itemized Deductions

Tax Credits

Child Tax Credit

Earned Income Credit

Education Credits

Self-Employment Income

$75,000

Business Expenses

Quarterly Taxes Paid

Business Structure

Sole Proprietor

LLC

Self-Employment Deductions

Home Office

Vehicle Expenses

Scenario A

Income

Filing Status

Scenario B

Income

Filing Status

Tax Results

$5,421 Refund

Effective Tax Rate 12.4%

$0 $52,400

Tax Distribution

Tax Breakdown

Gross Income: $65,000

Adjustments: -$0

Adjusted Gross Income (AGI): $65,000

Standard Deduction: -$14,600

                            Taxable Income:
                            $50,400
                        

Federal Income Tax: $6,616

Tax Credits: -$0

Total Tax Liability: $6,616

Taxes Withheld: $8,000

                            Your Refund:
                            $1,384
                        

Your Tax Brackets (2024)

Calculation complete!