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The Real Effective Tax Rate Calculator
The effective tax rate refers to the actual amount of taxes individuals pays when all other
government tax payments are applied, divided by the total income; expressed as a percentage.
The Main Types of Taxes
Income Tax: the final amount you pay in your 1040 each year, including capital gains, deductions and credits.
Payroll Tax: the Medicare and Social Security contributions, FICA taxes.
Sales Tax: what we pay at the register for products and services.
State Tax: what you pay to your local government and cannot be deducted from you federal taxes.
Property Tax: the consequence, burdens and responsibilities of being an owner.
Excise Tax: special taxes added to products, think of tobacco and alcohol.
Fees & Licenses Tax: for example vehicle tag.
Fines: we earn and deserve this one, but still the money goes to the same place; think speeding tickets.
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