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Learn fundamental idea concepts before referring towards tax rate to avoid confusion and potential errors in your computation. The first thing you must find out is your taxable income. Get the result of your income for the year devoid of the allowable deductions, exemptions, and adjustments to discover your taxable income. Based during the resulting taxable income, you should find the applicable income level as well as the corresponding tax bracket. The rate on your tax is presented in percentage guise.

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