Taxes
Where your paycheck goes, and what your tax rate really is.
2026 standard deduction $16,100 single filers
Where each paycheck goes, from gross pay to what reaches your bank.
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4 things to know
Costly mistakes
Celebrating a big refund$126/check
InsteadUse the IRS Tax Withholding Estimator and update your W-4 withholding.
Treating a deduction like a credit$220 vs $1,000
InsteadA $1,000 deduction saves $220 in the 22% bracket. A $1,000 credit saves the full $1,000.
Not saving for tax on side income15.3% + tax
InsteadSide income owes self-employment tax too. Set aside about a third and pay quarterly.
Missing the new deductionsup to $25,000
InsteadTips, the overtime premium and new-car loan interest come off on Schedule 1-A, even without itemizing.
Selling investments in the wrong year0% missed
InsteadLong-term capital gains are taxed 0% while taxable income stays under $49,450 (single).
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2026 brackets and standard deduction.
Kids, itemizing and the new deductions
Find the federal tax line on a recent pay stub.
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Every number, worked out
A single filer earning $75,000 who puts 6% into a traditional 401(k), 2026 rules.
| Income | |||
| 1 | Salary | 75,000.00 | |
| 2 | Traditional 401(k), 6% of pay | Line 1 × 6% | (4,500.00) |
| 3 | Adjusted gross incomeForm 1040, line 11a | Line 1 − line 2 | 70,500.00 |
| 4 | Standard deduction, single, 2026Form 1040, line 12e | (16,100.00) | |
| 5 | Taxable incomeForm 1040, line 15 | Line 3 − line 4 | 54,400.00 |
| Through the brackets | |||
| 6 | 10% on $12,400taxable income from $0 to $12,400 | $12,400 × 10% | 1,240.00 |
| 7 | 12% on $38,000taxable income from $12,400 to $50,400 | $38,000 × 12% | 4,560.00 |
| 8 | 22% on $4,000taxable income from $50,400 to $54,400 | $4,000 × 22% | 880.00 |
| 9 | Income taxThe IRS Tax Table, which uses the midpoint of each $50 band, would show $6,686 | Lines 6 to 8 | 6,680.00 |
| Payroll taxes | |||
| 10 | Social Security | Line 1 × 6.2% | 4,650.00 |
| 11 | Medicare | Line 1 × 1.45% | 1,087.50 |
| What it adds up to | |||
| 12 | All federal taxes | Lines 9 + 10 + 11 | 12,417.50 |
| 13 | Effective income tax rate | Line 9 ÷ line 1 | 8.91% |
| 14 | Effective rate with payroll taxes | Line 12 ÷ line 1 | 16.56% |
| 15 | Kept from the next $1,000 earned | $1,000 × (1 − 22% − 7.65%) | 703.50 |
The 2026 tax brackets
| Rate | Taxable income over | Up to |
|---|---|---|
| 10% | $0 | $12,400 |
| 12% | $12,400 | $50,400 |
| 22% | $50,400 | $105,700 |
| 24% | $105,700 | $201,775 |
| 32% | $201,775 | $256,225 |
| 35% | $256,225 | $640,600 |
| 37% | $640,600 | and up |
| Rate | Taxable income over | Up to |
|---|---|---|
| 10% | $0 | $24,800 |
| 12% | $24,800 | $100,800 |
| 22% | $100,800 | $211,400 |
| 24% | $211,400 | $403,550 |
| 32% | $403,550 | $512,450 |
| 35% | $512,450 | $768,700 |
| 37% | $768,700 | and up |
Standard deduction: $16,100 single, $32,200 joint, $24,150 head of household (Rev. Proc. 2025-32).
Sources (7)
- Internal Revenue Service: Revenue Procedure 2025-32: 2026 tax brackets, standard deduction and other inflation adjustments (Oct 9, 2025)
- Internal Revenue Service: Form 1040 (2025): line numbers referenced on this site
- Internal Revenue Service: 2025 Form 1040 instructions, including the 2025 Tax Table and Tax Computation Worksheet (Feb 2026)
- Internal Revenue Service: Schedule 1-A (Form 1040), Additional Deductions: tips, overtime, car loan interest, seniors (Nov 4, 2025)
- Internal Revenue Service: Tax deductions for working Americans and seniors (2025 to 2028)
- Social Security Administration: Contribution and benefit base: $184,500 for 2026 (Oct 24, 2025)
- Internal Revenue Service: 2026 filing season statistics: average refund $3,276 through May 8, 2026 (May 2026)