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Taxable income and filing status determine which federal tax rates apply to you and how much in taxes you'll owe that year.
Curious about how much you may owe or get back when you file taxes in April 2025? Use this free income tax calculator to project your 2024 federal tax bill or refund.
Profits from the sale of an asset held for more than a year are subject to long-term capital gains tax. The rates are 0%, 15% or 20%, depending on taxable income and filing status.
State income tax rates can raise your tax bill. Find your state's income tax rate, see how it compares to others and see a list of states with no income tax.
The rate at which your distributions are taxed will depend on which federal tax bracket(s) you're in at the time of your qualified withdrawal.
Federal tax brackets and tax rates In the U.S., there are seven marginal rates — 10%, 12%, 22%, 24%, 32%, 35% and 37% — which will remain unchanged for 2025.
The self-employment tax rate is 15.3%. That rate is the sum of 12.4% for Social Security and 2.9% for Medicare. Self-employment tax applies to net earnings — what many call profit.
The federal estate tax generally applies to assets over $13.61 million in 2024 — $13.99 million in 2025 — and the federal estate tax rate ranges from 18% to 40%.
Federal income tax: This is income tax your employer withholds from your pay and sends to the IRS on your behalf. The amount largely depends on what you put on your W-4.
Here's a guide to calculating your dividend tax rate, plus how to report dividend income and how to score tax advantages.