I'm trying to figure out my effective tax rate and I'm stuck. On my pay stubs, I can see deductions for Social Security, Federal Taxes, State Taxes, and Medicare. I've been adding all of those together to figure out how much I'm paying to the government, but I shouldn't really include Social Security, right? I mean, if I'm going to eventually get that money back, then it's not a tax exactly, right? Is my actual tax rate Federal Income + State Income + Medicare?
Sunday, October 18, 2009
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