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Your tax rate is based on your taxable income. That would be your gross income minus allowable deductions to come to "taxable income." Taxes withheld aren't a part of that calculation.
Taxes withheld are essentially "prepayments" of your tax for the year, and you don't really know your tax for the year until you prepare your income tax return.
Your tax rate is based on your taxable income. That would be your gross income minus allowable deductions to come to "taxable income." Taxes withheld aren't a part of that calculation.
Taxes withheld are essentially "prepayments" of your tax for the year, and you don't really know your tax for the year until you prepare your income tax return.
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