2024 Tax Brackets Head Of Household Tax. Next, determine your taxable income. For example, if you paid $10,000 in taxes on a taxable income of $50,000, your effective tax rate would be 20% (10,000/50,000 = 0.2).

There are seven (7) tax rates in 2024. As your income goes up, the tax rate on the next layer of income is higher.