TaxTip
Your Ultimate US Tax Guide for 2025
2025 Tax Filing Season Guide
Everything you need to know about filing your 2024 income taxes
Filing Season Opens
January 27, 2025
Tax Deadline
April 15, 2025
Extension Deadline
October 15, 2025
📊 2024 Tax Brackets (For 2025 Filing)
| Tax Rate | Income Range |
|---|---|
| 10% | $0 - $11,600 |
| 12% | $11,601 - $47,150 |
| 22% | $47,151 - $100,525 |
| 24% | $100,526 - $191,950 |
| 32% | $191,951 - $243,725 |
| 35% | $243,726 - $609,350 |
| 37% | $609,350+ |
Single Filers
Married Filing Jointly
Head of Household
💰 2024 Standard Deductions
Single
$14,600
Married Filing Jointly
$29,200
Head of Household
$21,900
🧮 How Tax Calculation Works
Progressive Tax System
The US uses a progressive tax system, meaning different portions of your income are taxed at different rates. You don't pay the highest rate on all your income!
Example: Single Filer with $75,000 Income
First $11,600 × 10%$1,160
Next $35,550 ($47,150 - $11,600) × 12%$4,266
Remaining $13,250 ($60,400 - $47,150) × 22%$2,915
Total Federal Tax$8,341
Effective Tax Rate11.12%
🆕 2024 Tax Year Updates
Key Changes
- ✓Standard deduction increased due to inflation adjustments
- ✓Tax brackets adjusted for inflation
- ✓401(k) contribution limit: $23,000 (under 50)
- ✓IRA contribution limit: $7,000 (under 50)
Important Reminders
- ⚠️Child Tax Credit: Up to $2,000 per qualifying child
- ⚠️Earned Income Tax Credit updated income limits
- ⚠️Health Savings Account limit: $4,300 (individual)
- ⚠️Social Security wage base: $160,200