Marginal vs. Effective Tax Rate
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Marginal vs. Effective Tax Rate
(source: momanddadmoney.com)
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**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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Variables
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Filing StatusMarried Filing Joint
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Age37
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Dependents (Kids)1
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Annual Income$53,000
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Taxes¹
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Taxable Income$28,250
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Taxes Paid$2,314
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Marginal Tax Rate
15.00%
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Effective Tax Rate
4.37%
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Notes
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¹Tax estimates made using TurboTax's TaxCaster: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
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