Tax Refund Calculator 2024
Estimate your federal tax refund or amount owed. Enter your income, withholding, and credits.
Estimated Federal Tax Refund
+$2,784
📋Filing Status
💵Income
Gross Income
$60,000
AGI
$60,000
Taxable Income
$45,400
📉Deductions
2024 standard deduction for Single: $14,600
✅Tax Credits
Maximum $2,500 per student
📊Tax Breakdown
💡How to Increase Your Refund
Maximize Retirement Contributions
Contributions to a traditional 401(k) (up to $23,000) or IRA (up to $7,000) reduce your taxable income directly.
Itemize if It Pays Off
If your mortgage interest, state taxes (SALT up to $10,000), and charitable donations exceed the standard deduction, itemize.
Use an HSA
Health Savings Account contributions (up to $4,150 single / $8,300 family) are 100% tax-deductible.
Education Credits
The American Opportunity Credit is worth up to $2,500 for tuition and fees for the first 4 years of college.
Deduct Business Expenses
If self-employed, deduct home office, equipment, mileage (67¢/mile in 2024), and health insurance premiums.
Tax-Loss Harvesting
Selling investments at a loss offsets capital gains — up to $3,000 of losses can offset ordinary income.
This calculator provides estimates based on 2024 federal tax law. It does not account for state taxes, AMT, or all deduction phase-outs. Consult a tax professional for personalized advice.