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Effective tax rate - what is reasonable?
Posted on 4/13/13 at 1:15 pm
Posted on 4/13/13 at 1:15 pm
Evidently my taxable income went up by about 121% in 2012.
I'm in the 25% tax bracket and my effective tax rate now sits at 8.6%. Is this reasonable? or should it be lower? is there some type of rule of thumb that should be a target range?
I Googled around and didn't get a satisfactory answer.
I'm in the 25% tax bracket and my effective tax rate now sits at 8.6%. Is this reasonable? or should it be lower? is there some type of rule of thumb that should be a target range?
I Googled around and didn't get a satisfactory answer.
5
Posted on 4/13/13 at 1:24 pm to TigerWerm
Seems to me like an answer to this would vary depending on the person.
Posted on 4/13/13 at 3:09 pm to TigerWerm
Ours (wife and I) was 10% in 2011 and 12% in 2012.
Posted on 4/13/13 at 3:24 pm to TigerWerm
State + Fed was 12% in 2012 on reportable income.
Posted on 4/15/13 at 12:09 am to tirebiter
Romney was 14%; Obama is 18%. Warren Buffet is ____.
Posted on 4/15/13 at 7:09 am to TigerWerm
By definition reasonable can cover a range of answers. So it is unlikely you will get a consensus rate.
Posted on 4/15/13 at 7:52 am to TigerWerm
Lowest you can get away with
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