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When engaging in tax planning, knowing your _________ is very helpful. effective tax rate. withholdings. marginal tax rate. tax bracket.
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38 votes
When engaging in tax planning, knowing your _________ is very helpful. effective tax rate. withholdings. marginal tax rate. tax bracket.

User Veliko
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22 votes

When engaging in tax planning, knowing your marginal tax rate is very helpful. effective tax rate.

What is effective tax rate?

The effective tax rate is known to be a kind of an actual cut or percentage of taxes that a person has to pay on all the taxable income that person has.

There are three key causes of differences that exist between marginal and effective tax rates. Tax planning reduces the taxes you have to pay over a lifetime.

Learn more about tax planning from

User Kelvin Omereshone
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