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Anthony

Average tax rate calculation

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That's because of the rates are not fixed for all the income!

 

For example for federal 2015 the rates are:-

 

  • 15% on the first $44,701 of taxable income, +
  • 22% on the next $44,700 of taxable income (on the portion of taxable income over $44,701 up to $89,401),+
  • 26% on the next $49,185 of taxable income (on the portion of taxable income over $89,401 up to $138,586), +
  • 29% of taxable income over $138,586.

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Thanks for the effort, however, I'm not referring to marginal rates.  I'm aware of our progressive tax system.  I'm referring to average or effective tax rate which is defined as (Total income taxes paid ÷ Total income).  The Ufile summary indicates I paid an average tax rate of 11.8%.  When I do the division using the same numbers provided in the Ufile summary I arrive at 12.8%.  Seems like there is some kind of internal calculation error in their software unless I am missing something else.  I don't see what I could be missing since this is a simple calculation.

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