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@ Layer3.news
2025-03-13 01:45:17
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MARGINAL VS. EFFECTIVE TAX RATE: WHAT’S THE DIFFERENCE?
https://s.yimg.com/ny/api/res/1.2/VlYD_73REUswmLujaED7fA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-/https://s.yimg.com/os/creatr-uploaded-images/2022-10/89f8ded0-540d-11ed-b97a-4c0eb3074175
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✍️ Understanding the difference between marginal and effective tax rates is crucial for planning and filing taxes. Marginal tax rate is the percentage paid on the last dollar earned, while effective tax rate is the average tax rate paid overall.
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👉 Marginal tax rate is the percentage paid on the last dollar earned
👉 Effective tax rate is the average tax rate paid overall
👉 Marginal tax rate is higher than effective tax rate
👉 Effective tax rate is lower than marginal tax rate
👉 Understanding marginal and effective tax rates is crucial for planning and filing taxes
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