Financial Glossary
Definitions of common financial and tax terms to help you understand your paycheck and taxes.
Showing 2 of 20 terms in Tax starting with "M"
Marginal Tax Rate
TaxThe tax rate that applies to the last dollar of your income. The U.S. uses a progressive tax system with different rates for different income brackets.
Medicare Tax
TaxA federal payroll tax that funds the Medicare program. The basic rate is 1.45% for employees, with an additional 0.9% for high-income earners.