Federal tax rates 

• 2024/2025 federal tax bracket rates and income thresholds
  • 15% up to $55,867 of taxable income.
  • 20.5% between $55,867 and $111,733.
  • 26% between $111,733 and $173,205.
  • 29% between $173,205 up to $246,752.
  • 33% on any taxable income exceeding $246,752.