Posted by Tom in TN on April 17, 2011 at 05:21:42 from (75.201.67.83):
Tomorrow is the deadline for filing personal income tax with the Federal government.
So, what is your effective tax rate for this year's taxes? By effective tax rate, I don't mean how much do you have to pay when you file your return or how much of a refund are you going to get back.
Effective tax rate means, what was your total income from wages, pensions, dividends, interest, self-employment, etc. How much did you make last year?
Then, how much did you actually pay for your income tax? Not how much are you sending in with your return, but how much was withheld, plus how much did you send the government in quarterly payments, plus how much are you sending in with your return? What's the total amount of your Federal Income Tax for this year?
Now, divide the total amount of income tax you paid by the total amount of money you earned, and you have your effective tax rate.
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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