I just did our taxes and learned I can’t really complain about how much we pay in terms of federal taxes. Turbo tax gives you your effective tax rate (actual income tax paid divided by net taxable income before taxes) on the first page after you complete your taxes.
While our income puts us squarely in middle class territory, our effective tax rate is 1.26%!
I mean we don’t live in a van down by the river or anything. I guess I’m happy about this. Although, we are apparently poorer than we think.
My topics that I can bitch about at fancy cocktail parties are dwindling…
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February 28, 2010 at 11:43 am
[...] they had read my gloating and decided we were up to no good. Or maybe they had gotten wind of my plan to deny them a free [...]
March 18, 2010 at 1:57 pm
[...] I’ve stated before our effective tax rate is a ridiculous 1.26%. I know, I don’t have a lot of room to complain with a tax rate like that, but we have [...]