2024 Tax Rates And Deductions. Income tax calculator is a useful tool to determine tax liability with respect to income tax slabs and deductions available. In this article we have discussed income tax deduction available to taxpayers from various sources of income for a.y.

Colorado offers employers that contribute to a worker’s collegeinvest 529 plan a tax credit of 20 percent of the contribution, up to a maximum credit of $500 per worker. You pay tax as a percentage of your income in layers called tax brackets.