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Tax Planning: Understanding Marginal vs. Effective Tax Rates

Tax Planning: Understanding Marginal vs. Effective Tax Rates

by Michael: Financial Advice for Early-Career Physicians | Sep 30, 2024 | Early-Career Physicians, Financial Planning, Tax Planning

Introduction Taxes can feel complicated, especially when you realize that your effective tax rate is lower than your marginal tax rate.   Many people believe they’re taxed at a single rate, like 24%, but in reality, the tax system is more complex.   This...

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