Marginal vs. Effective Tax Rate

	A	B
1	Marginal vs. Effective Tax Rate (source: momanddadmoney.com)
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5	**Note: This includes Federal taxes only. It does not include state taxes, payroll taxes, or any deductions or credits an individual might qualify for at different levels of income. It is for illustrative purposes only and is not meant to be used for your personal tax planning.
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7	Variables
8	Filing Status	Married Filing Joint
9	Age	37
10	Dependents (Kids)	1
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12	Annual Income	$53,000
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14	Taxes¹
15	Taxable Income	$28,250
16	Taxes Paid	$2,314
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18	Marginal Tax Rate	15.00%
19	Effective Tax Rate	4.37%
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21	Notes
22	¹Tax estimates made using TurboTax's TaxCaster: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
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