What is my U.S. federal income tax bracket?

What are U.S. federal income tax brackets?

In the U.S. federal income tax system, higher incomes are subject to taxation at higher rates based on a set of tax brackets. For the 2025 taxable year, there are seven tax brackets and associated tax rates that may apply to an individual’s ordinary income (for example, income from wages earned as an employee).

What tax brackets may apply to you?

Your tax brackets are impacted by your filing status, meaning whether you are a single filer, married and filing jointly, married and filing separately or the head of a household. For 2024 and 2025 U.S. federal income taxes, here are the tax brackets for various types of filers. 2024 taxes are due April 15, 2025.

While these are the income tax brackets, computation of tax liability can be complex and may differ depending on the type of income and how it is earned. Tax legislation, if enacted, may alter these rates and affect the computation of an individual’s tax liability. Also, it’s important to recognize that these are U.S. federal income tax brackets applicable to individuals for ordinary income, and that this article doesn’t discuss the tax rates applicable to businesses or to other types of income, or state or local taxes.

How to determine the taxes you owe based on the tax brackets that apply to you

Just because you are in a certain tax bracket does not mean that you are required to pay that rate for all of your taxable income.

For example, if you are a single filer with taxable income of $50,000 for 2024, referencing the first table above the highest tax bracket that applies to you is the 22% tax bracket. However, you would not be required to pay that 22% on the entire $50,000. Some of it will be taxed at 22%, but some of it will be taxed at lower rates in the lower brackets. To calculate what tax brackets apply to you, apportion your taxable income into chunks, or brackets. Each chunk will be taxed at the rate applicable to the tax bracket.

The table shows that a single filer with $50,000 of taxable income would pay 10% on the first $11,925, 12% on the amount over $11,925 and less than $48,475, and 22% on the amount over $48,475.

How income tax deductions and credits may affect which tax brackets apply to you and the amount of taxes you owe

Deductions and credits, to the extent available to offset income or reduce taxes payable, may reduce your tax bill.

Generally, a deduction lowers your taxable income. For example, if you are in the 22% tax bracket, you could save $220 from a $1,000 deduction that lowers taxable income within that tax bracket. Deductions may arise from donating to a qualified charity, paying certain medical expenses, contributing money into a traditional IRA or from use of the standard deduction, for example.

A tax credit, on the other hand, generally may be applied against taxes otherwise payable and therefore lower the amount of tax that you must pay, but it does not lower your taxable income or impact which tax brackets apply to your income. A tax credit can come from a number of sources. For example, a tax credit may be available for the cost of installing and utilizing certain types of renewable energy in your home such as solar electricity or geothermal heat pumps.

JPMorgan Chase & Co. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on, for tax, legal or accounting advice. You should consult your personal tax, legal and accounting advisors for advice before engaging in any transaction.

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