Jenny Lorinda

2024 Tax Brackets Single Deduction. For example, a hypothetical single filer would owe 10% on the first $11,600 of taxable income in 2024 whether that amount represents their total earnings, or they earn $1. The 2024 tax year standard deductions will increase to $29,200 for married couples filing jointly, up $1,500 from $27,700 for the 2023 tax year.

The standard deduction for single filers and for married people who file separate returns rises to $14,600, up $750 from 2023; See the 2023 tax tables.