Single Filer Standard Deduction 2024

Single Filer Standard Deduction 2024. Based on the rates in the table above, a single filer with an income of $50,000 would have a top marginal tax rate of 22%. A deduction reduces the amount of a taxpayer's income that's subject to tax, generally reducing the amount of tax the individual may have to pay.


Single Filer Standard Deduction 2024

The top marginal tax rate in tax year 2024, will remain at 37% for single individuals with incomes greater than $609,350. In 2024, it is $14,600 for single taxpayers and $29,200 for married taxpayers filing jointly, slightly increased from 2023 ($13,850 and $27,700).

Single Filer Standard Deduction 2024 Images References :