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Scarlet Oak Financial Services

Faye Sykes, CLTC, NSSA
CEO & Independent Advisor
1117 Perimeter Center West
Suite W-212
Atlanta, GA 30338
800-871-1219
fsykes@scarletoakfs.com
www.scarletoakfs.com View Bio

Faye Sykes's Profile Picture

January 15, 2024

SOFS 2024 Key Numbers (Links Version)
 

2024 Federal Income Tax Rate Schedules (Individuals, Trusts, and Estates)

Single taxpayers

If taxable income is:Your tax is:
Not over $11,600 10% of taxable income
Over $11,600 to $47,150 $1,160 + 12% of the excess over $11,600
Over $47,150 to $100,525 $5,426 + 22% of the excess over $47,150
Over $100,525 to $191,950 $17,168.50 + 24% of the excess over $100,525
Over $191,950 to $243,725 $39,110.50 + 32% of the excess over $191,950
Over $243,725 to $609,350 $55,678.50 + 35% of the excess over $243,725
Over $609,350 $183,647.25 + 37% of the excess over $609,350

Married filing jointly and surviving spouses

If taxable income is:Your tax is:
Not over $23,200 10% of taxable income
Over $23,200 to $94,300 $2,320 + 12% of the excess over $23,200
Over $94,300 to $201,050 $10,852 + 22% of the excess over $94,300
Over $201,050 to $383,900 $34,337 + 24% of the excess over $201,050
Over $383,900 to $487,450 $78,221 + 32% of the excess over $383,900
Over $487,450 to $731,200 $111,357 + 35% of the excess over $487,450
Over $731,200 $196,669.50 + 37% of the excess over $731,200

Married individuals filing separately

If taxable income is:Your tax is:
Not over $11,600 10% of taxable income
Over $11,600 to $47,150 $1,160 + 12% of the excess over $11,600
Over $47,150 to $100,525 $5,426 + 22% of the excess over $47,150
Over $100,525 to $191,950 $17,168.50 + 24% of the excess over $100,525
Over $191,950 to $243,725 $39,110.50 + 32% of the excess over $191,950
Over $243,725 to $365,600 $55,678.50 + 35% of the excess over $243,725
Over $365,600 $93,334.75 + 37% of the excess over $365,600

Heads of household

If taxable income is:Your tax is:
Not over $16,550 10% of taxable income
Over $16,550 to $63,100 $1,655 + 12% of the excess over $16,550
Over $63,100 to $100,500 $7,241 + 22% of the excess over $63,100
Over $100,500 to $191,950 $15,469 + 24% of the excess over $100,500
Over $191,950 to $243,700 $37,417 + 32% of the excess over $191,950
Over $243,700 to $609,350 $53,977 + 35% of the excess over $243,700
Over $609,350 $181,954.50 + 37% of the excess over $609,350

Trusts and estates

If taxable income is:Your tax is:
Not over $3,100 10% of taxable income
Over $3,100 to $11,150 $310 + 24% of the excess over $3,100
Over $11,150 to $15,200 $2,242 + 35% of the excess over $11,150
Over $15,200 $3,659.50 + 37% of the excess over $15,200
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Broadridge Investor Communication Solutions, Inc. prepared this material for use by Scarlet Oak Financial Services.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on individual circumstances. Scarlet Oak Financial Services provides these materials for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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This communication is strictly intended for individuals residing in the state(s) of AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VI, VA, WA, WV, WI and WY. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2024.