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Effective Tax Rate Questions

What Is an Effective Tax Rate?

The Effective Tax Rate is a steady rate that would be taxed to individuals who are paying taxes instead of the tax rate changing over a period of time. In order, to arrive what the Effective Tax Rate would be is to take the paid total of the taxes and divide it by the income that is taxable. For more questions that have been answered about effective tax rate by the Experts..

If a person has an income tax rate of 25% and the effective tax rate is 14%; how can a person save on taxes to acquire to acquire real estate?

In order for a person to save taxes to buy rental real estate; first, a person’s gross income per year has to be lower than $150,000. If the person’s income is lower than that specific amount then the person would be able to offset losses gained from the rental towards a person’s income and lower income tax ratings. Next, the person will have to keep the income that is obtained through rental, the amount of interest from expenses, taxes acquired from real estate, and depreciation to come up with the lost that has affected income. The loss will be multiplied with whatever the tax rate to calculate how much will be saved through taxes.

Is it possible to have a negative effective tax rate for a corporation what happens to the tax provision when the income is also negative and is this a negative tax expense?

In the future, if a corporation files an income tax form; there may be a chance that a negative tax provision if the tax benefits result in a lost for that particular year. If the corporation will take the lost from the previous year and carry it on the taxes then the provision of the company will receive benefits that will be shown in the carry back. Losses can be deducted through negative tax provisions when it comes to the tax benefits.

What is the average tax on $120,000 annual salary?

In order to figure out the taxes it depends on how many exemptions the person has, marital status when filing (married or single), and deductions that may be itemized. An estimate of $120K would likely have the individual in the 33% tax bracket. If the person doesn’t have any deduction when it comes time to file taxes it will end up being $27,000 with an Effective tax rate around 22.5%. The Effective Tax Rate will also be lower than the tax bracket a person is in.

If a person has a long-term capital gains over the $30,650 taxable income amount, they would be taxed at the 15% rate, not the 5% rate, right?

The long-term capital gain will be taxed at the 15% tax rate if the gains are in excess of $30,650.

The Effective Tax Rate is a rate that varies from the progressive tax rate because of the Effective Tax Rate goal is to never change gradually like the progressive one does. Some people may prefer this tax rate because of that benefit that it gives. What is the Effective Tax Rate? What is the Effective Corporate Tax Rate? What is the Effective Tax Rate by Income? More information that involves Effective Tax Rates can be gained by consulting with the Experts.

Ask a Tax Professional

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: General
Satisfied Customers: 572
Experience:  10 years experience
16356563
Type Your Tax Question Here...
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4 Tax Professionals are Online Now

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Tax Professionals are online & ready to help you now

Wallstreet Esq.
Tax Attorney
Satisfied Customers: 570
10 years experience
Wendy Reed
Enrolled Agent
Satisfied Customers: 3052
15+ years tax preparation and tax advice.
Mark D
Enrolled Agent
Satisfied Customers: 985
MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Recent Effective Tax Rate Questions

  • I have a regular job where I earn 120K/year. I file as head

    I have a regular job where I earn 120K/year. I file as head of household with 1 dependent, take the standard deduction and my effective tax rate is 17%. I just got some contracting income in the amount of $6500 for services. How much tax do I pay, and by when?
  • Tax treatment of an IRA 60-day rollover (short-term loan) that

    Tax treatment of an IRA 60-day rollover (short-term loan) that takes the distribution in December and pays back in January of following year.
    I have several IRA's with Scottrade. I am 67 and incur no penalty on withdrawls.
    I do not want to simply withdraw funds in mid-December 2014 from an IRA to cover property taxes because I do not want to incur the income on my 2014 taxes. I am considering doing a withdrawl in mid-December and pay back the IRA in late January 2015 within the guidelines of the 60-day rollover.
    How do I handle this transaction on my 2014 tax return? I believe Scottrade will issue me a standard IRA tax form in late January reflecting the withdrawl, but would not show the payback in January. When doing my tax return. do I simply override the taxable withdrawl that was submitted from Scottrade on my 1040 and keep a record of the IRA repayment in January?
    Also, I would probably withdraw funds from a second IRA to payback the December withdrawl in order to put the tax obligation into 2015. Any negatives related to doing that?
  • tax deductible????WHAT IS THE ADVANTAGE OF CONSIDERING A

    tax deductible????
    WHAT IS THE ADVANTAGE OF CONSIDERING A DONATION VERSUS SELLING AN ITEM???
    HOW IS VALUE EVALUATED....ORIGINAL RETAIL PRICE OR ANY USED PRICE???
    SHOULD I GET A A SPECIAL RECEIPT, DOES IT NEED TO BE NON-PROFIT????
    PLZ XPLAIN???
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