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FWIW and maybe stating the obvious --

There is no Internal Revenue Code or other standard legal definition of "effective tax rate." As used in the media, however, it's usually defined as total income tax liability (regular, plus any AMT, net of credits), divided by adjusted gross income (AGI). That's also the same approach used by administration in proposing the "fair share tax," aka Buffett Rule.

29% agi 720k. 2 kids self employed



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