2024 Tax Tables And Standard Deduct2024 Tax Brackets: Married Jointly. If you earned $75,000 in 2023 and file as a single taxpayer, taking the standard deduction of $13,850 will reduce your taxable income to $61,150. The irs on thursday released updated tax brackets and standard deductions for 2024.
The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025. There are seven federal tax brackets for tax year 2024.