Understanding 2024 Federal Tax Brackets: A Complete Guide
How the US progressive tax system works, what the 2024 federal tax brackets are, and how to reduce your tax bill legally.
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The US federal income tax system uses progressive brackets ranging from 10% to 37%. Thanks to the Tax Cuts and Jobs Act (TCJA), the standard deduction for 2024 is $14,600 for single filers and $29,200 for married filing jointly. Maximizing pre-tax accounts like 401(k) and HSA can significantly reduce your taxable income.
Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Tax laws change frequently — consult a qualified tax professional or official government resources for advice specific to your situation.
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