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 ...

Ben Phillips does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their ...