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 - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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