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 ...

Your marginal tax rate is the highest rate applied to your income. Understanding your marginal tax rate aids in financial decision-making. Other taxes like payroll and state taxes also impact your ...

Sitting down to file taxes can sometimes bring an unpleasant surprise of taxes owed or a pleasant relief of a hefty refund. After filing taxes for years, you might wonder how the government calculates ...