Reply To: Difference in Tax amount found in tax tables vs. calc, tax rate schedule

Home Fairmark Forum Other Tax Topics Difference in Tax amount found in tax tables vs. calc, tax rate schedule Reply To: Difference in Tax amount found in tax tables vs. calc, tax rate schedule

#7245
Lewis-H
Participant

To calculate your effective tax rate, take the total amount of tax you paid and divide that number by your taxable income. Your effective tax rate will be much lower than the rate from your tax bracket.