2024 Tax Rates: A Comprehensive Overview of Brackets, Deductions, and More

Bloomberg Tax & Accounting has released its projected U.S. tax rates for 2024, indicating that inflation-adjusted amounts in the tax code will increase by 5.4% from 2023. This will result in upward adjustments to tax brackets and increases to other key thresholds. The projected numbers include changes to tax brackets, capital gains rates, standard deduction amounts, personal exemption amounts, and more. However, it's important to note that these are projections and the official tax brackets and numbers for 2024 will be published by the IRS later this year.