Average tax rate

Average tax rate is the average percent you pay in taxes out of your taxable income, based upon the tax brackets you fall into. For example: John Doe files taxes as a single man, with a total of $65,000 in taxable income. The first $7,550 he made would be taxed at 10%, then income between $7,550 and $30,650 would be taxed at 15%, with the remainder taxed at 25%. On average, John Doe's income was taxed at 19.7%. This is the average tax rate.

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