Another One Bites The Dust
Feb. 22nd, 2008 09:05 amFiled our 2007 tax returns last night. $269 in AMT. Average effective federal income tax rate was 11%, marginal was 28% (because of AMT, otherwise would be 25%). All of that to change for the worse if the Bush tax cuts are allowed to expire. (State tax is a flat 5.3%, effective 5.1%.)