Re:The IRS Sets a Trap for Cryptocurrency Tax Cheats
by seangrogg on Saturday September 26, 2020 @02:44PM
(#24601140)
Marginal tax rate (which is specified) is at least how much you'd owe on every dollar of income after. Average tax rate is how much tax you actually paid against income.
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Re:The IRS Sets a Trap for Cryptocurrency Tax Cheats
by PaulDavisThe1st on Saturday September 26, 2020 @05:18PM
(#24602212)
Most people (particularly in the US) do not understand this. In addition, the actual placement of the tax makes a great deal of difference. Owing 35% on income above $35k is very different than owing 35% on income above $220k. Very people know where the tax brackets are.