2024 Federal Taxable Income Brackets and Rates (for returns due in April 2025)
Income - Single
Income - Head of Household
Income - Married Filing Jointly
Income - Married Filing Separately
Federal Tax Rate
$0 - $11,600
$0 - $16,550
$0 - $23,200
$0 - $11,600
10%
$11,601 - $47,150
$16,551 - $63,100
$23,201 - $94,300
$11,601 - $47,150
12%
$47,151 - $100,525
$63,101 - $100,500
$94,301 - $201,150
$47,151 - $100,525
22%
$100,526 - $191,950
$100,501 - $191,950
$201,151 - $383,900
$100,526 - $191,950
24%
$191,951 - $243,725
$191,951 - $243,700
$383,901 - $487,450
$191,951 - $243,725
32%
$243,726 - $609,350
$243,701 - $609,350
$487,451 - $731,200
$243,726 - $365,600
35%
$609,351+
$609,351+
$731,201
$365,601
37%
2023-2024 Average Cost of Colleges & Universities
Type
Residence
Tuition & Fees
With Room & Board
Public 4yr
Residence:
In-state
Tuition & Fees:
$11,260
With Room & Board:
$24,030
Public 4yr
Residence:
Out-of-State
Tuition & Fees:
$29,150
With Room & Board:
$41,920
Public 2yr
Residence:
In-State
Tuition & Fees:
$3,990
With Room & Board:
$13,960
Private 4yr
Residence:
N/A
Tuition & Fees:
$41,540
With Room & Board:
$56,190
Historic Rates of Return 1926-2023
Inflation
2.9%
U.S. Treasury Bills
3.3%
Long-Term Government Bonds
5.1%
U.S. Large-Company Stocks
10.3%
U.S. Small-Company Stocks
11.8%
Social Security Amount
This calculator will estimate your monthly Social Security amount based on the the income(s) and marital status provided. If you would like to override this estimated amount with a different amount, you may do so by entering that amount here.
72(t) Distribution Amounts
IRS Notice 2022-62 provides that taxpayers may use—beginning with payments starting in 2022 or later—the greater of 120% of the applicable Federal mid-term rate, or 5% to calculate 72(t) payments using the Amortization or Annuitization methods.
Also known as the debt ratio, lenders use this ratio, along with the front-end ratio, to determine the maximum loan amount. Debt ratio equals your combined monthly mortgage payment plus any other monthly debt obligations, such as credit cards and alimony, divided by your gross monthly income. Use a back-end ratio of 33% for conservative results and as high as 42% for aggressive results (usually requires excellent credit and a higher down payment).
Front End Ratio
Also known as the housing ratio, lenders use this ratio along with the back-end ratio to determine the maximum loan amount. The housing ratio equals the combined (principal + interest + taxes + insurance) monthly mortgage payment divided by your gross monthly income. For example, a combined monthly mortgage payment of $1,200 divided by gross monthly income of $4,500 equals a housing ratio of 27%. Use a front-end ratio of 28% for conservative results and as high as 36% for aggressive results (usually requires excellent credit and a higher down payment).