Taylor Tepper covered banking, investing and pretty much everything else in personal finance for more than a decade, with his work appearing in the New York Times, Fortune and MONEY magazine, as well ...

Marginal tax rate is the rate you pay on your last dollar of income, based on your tax bracket. Effective tax rate is the average rate you pay on all of your income. Understanding the difference is ...

Your marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The ...