MarilynG
Expert Alumni

Get your taxes done using TurboTax

An individual can calculate their effective tax rate by looking at their Form 1040 and dividing the number on line 16, the "Total Tax," by the number on line 11(b), the "Taxable Income." 

 

The more you earn, the higher your marginal tax rate. The lowest tier of income is taxed at a low rate. The next higher tier of income is taxed at a slightly higher rate. At each step of income, the tax rate becomes higher.  

 

Click this link for more info on Tax Brackets so you can compare your 2020 and 2021 returns.

 

 

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