Ever wonder how much of your income you’re really paying in taxes? Understanding the difference between your marginal tax rate vs. effective tax rate is key to making smarter financial decisions, from ...

Effective and marginal tax rates might not be familiar terms. However, they’re essential concepts to understand because they determine how much income you’ll have to fork over to the government every ...

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Effective tax rate is your average tax rate as a percentage of total income. Marginal tax rate is the tax on your highest dollar earned, not your total income. Historically, top marginal rates have ...

is—it’s effectively a percentage of an amount over a year. If your savings account earns you a 0.05% interest per year (which is a really terrible interest rate, honestly), you earn $5 in interest for ...