2024 Tax Brackets Married Filing Separately Single

2024 Tax Brackets Married Filing Separately Single. For single filers, the standard deduction for the 2023 tax year is $13,850; Every bracket has its own tax rate.

For example, if you’re married filing jointly for 2024 taxes with a taxable income of $95,000, you’d fall under the 22% tax bracket even though a majority of your taxable income ($94,300) falls under the 12% tax bracket. This might be beneficial in certain situations, such as when one spouse has significantly higher income or medical expenses than the other.