Quick Reference 2024

Jason Watson, CPA

1 year ago

By Jason Watson, CPA
Posted Wednesday, October 18, 2023

Single 2024

From	To	Rate	Marginal Tax	Total Tax
0	11,600	10%	1,160	1,160
11,601	47,150	12%	4,266	5,426
47,151	100,525	22%	11,743	17,169
100,526	191,950	24%	21,942	39,111
191,951*	243,725	32%	16,568	55,679
243,726	609,350	35%	127,969	183,647
609,351	forever	37%

Married Filing Jointly 2024

From	To	Rate	Marginal Tax	Total Tax
0	23,200	10%	2,230	2,230
23,201	94,300	12%	8,532	10,852
94,301	201,050	22%	23,485	34,337
201,051	383,900	24%	43,884	78,221
383,901*	487,450	32%	33,136	11,357
487,451	731,200	35%	85,313	196,670
731,201	forever	37%

* Start of Section 199A qualified business income phaseout for small business owners.

Standard Deduction Single	14,600
Standard Deduction Married Filing Joint	29,200
Social Security Wage Limit	168,600
IRA Contribution Limit	7,000 + 1,000 catch-up
Roth Income Phaseout Single	146,000
Roth Income Phaseout Married Filing Joint	230,000
401k Employee	23,000 + 7,500 catch-up
401k Employer	46,000
Max 401k Total	69,000 + 7,500 catch-up

Jason Watson, CPA, is a Senior Partner of WCG CPAs & Advisors, a boutique yet progressive tax, accounting
and business consultation firm located in Colorado serving small business owners and taxpayers worldwide.

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