Tax Brackets For 2024 Married Filing Jointly Vs Single

Tax Brackets For 2024 Married Filing Jointly Vs Single. For the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly). Single filers are taxed at the lowest marginal tax rate of 10% on their first $11,600 in income in the 2024 tax year.

In 2024, the standard deduction for married couples filing jointly is $29,200—double that of a single filer. When filing jointly, the spouse with the higher income gets to use the other spouse’s standard deduction as well as using the more favorable jointly filing tax brackets as compared.