My wife just finished doing our federal income taxes. Our effective federal income tax rate, after all deductions and credits and whatnot is 9.69%.
Not bad, but of course this doesn't include Social Security, Medicare, sales, excise or other taxes. I wonder what our true effective tax rate is.
God bless the mortgage interest deduction.
Effective tax rates...
Effective tax rates...
we've yet to do our taxes (usually wait til last second for whatever reason)...but my bonus last year was taxed 43%