What % did you pay in taxes?

[erub]

Income: $19,562
Federal Tax: 819
AZ State Tax: $200
GA State Tax: -$24

Total Tax: $995
5.06%

 

[b0mbrman]

Originally posted by: RichUK
With both national insurance and tax combined I lose over 1/3 in deductions from my monthly salary.

Seems like you guys are better off.

Well, at least you have free health care.

Also, with that much tax, I bet your gas is way cheaper than ours :thumbsup:

 

[TheAdvocate]

Effective rates:

8.1% Federal
4.6% State

Actually, that seems pretty fair to me. It's the 7.5% for FICA that bothers me, cause I doubt I'll see a penny of it.

 

[RichUK]

Originally posted by: b0mbrman

Originally posted by: RichUK
With both national insurance and tax combined I lose over 1/3 in deductions from my monthly salary.

Seems like you guys are better off.

Well, at least you have free health care.

Also, with that much tax, I bet your gas is way cheaper than ours :thumbsup:

I have a company fuel card. I only pay £1 a month on fuel and I used over £3k's worth of fuel throughout the last financial year.

The free health care is good, though.

 

[Greenman]

Originally posted by: TheAdvocate
Effective rates:

8.1% Federal
4.6% State

Actually, that seems pretty fair to me. It's the 7.5% for FICA that bothers me, cause I doubt I'll see a penny of it.

Us self employed types get to pay 15% FICA.

 

[iversonyin]

~3% total for last year. This year going to be closer to 20%- its always good be self-employed and being employed.

 

[GTaudiophile]

Combined Fed and State is 30%, +/- 2% or so.

Taxes are my single largest yearly expense. Rent is a very distant second.

I am single, 27, unmarried, don't own a home, and have no kids.

 

[tw1164]

Originally posted by: Mermaidman

Originally posted by: Chaotic42
Damned loafers with your families and houses!

Wait till you hear about EIC . . . :|

I was able to get the EIC this year.

 

[Chaotic42]

Originally posted by: Mermaidman

Originally posted by: Chaotic42
Damned loafers with your families and houses!

Wait till you hear about EIC . . . :|

They need to tax people with kids more than single people. School isn't free. Stop paying for school with property tax and make the damned parents pay for it.

 

[DrPizza]

Originally posted by: Chaotic42

Originally posted by: Mermaidman

Originally posted by: Chaotic42
Damned loafers with your families and houses!

Wait till you hear about EIC . . . :|

They need to tax people with kids more than single people. School isn't free. Stop paying for school with property tax and make the damned parents pay for it.

All of your investments would be absolutely worthless when you die, if it wasn't for their kids. How would a company operate without labor? How much would real estate be worth if there was little demand?

 

[DBL]

Originally posted by: b0mbrman

Originally posted by: redly1

Originally posted by: b0mbrman
$0 federal tax
$0 state tax
-----------------
$0 total tax
/$xx,xxx income (don't have the exact figures offhand, but it's between $60k and $70k)
-------------------------
0% tax rate

I didn't know you were an illegal alien

Hey, it's undocumented worker! Jerk :|

Illegal or undocumented, you still have to pay taxes.

 

[Chaotic42]

Originally posted by: DrPizza
All of your investments would be absolutely worthless when you die, if it wasn't for their kids. How would a company operate without labor? How much would real estate be worth if there was little demand?

I'm not saying that they shouldn't have kids, just that they shouldn't get breaks for having them.

 

[miniMUNCH]

- 7% or so.

I am in grad school, married, and have a son... my wife takes care of our little boy. We got all my paid fed. taxes back plus about $1700 EIC.

So our return is about $2500... thank you all.

My wife and I were paying a lot of taxes prior to grad school and we'll be paying a lot in a year to two... so don't go too hard on us.

 

[Born2bwire]

6%

 

[jupiter57]

Originally posted by: Chaotic42

Originally posted by: DrPizza
All of your investments would be absolutely worthless when you die, if it wasn't for their kids. How would a company operate without labor? How much would real estate be worth if there was little demand?

I'm not saying that they shouldn't have kids, just that they shouldn't get breaks for having them.

Yes, we all know they cost absolutely nothing to raise!

 

[Chaotic42]

Originally posted by: jupiter57
Yes, we all know they cost absolutely nothing to raise!

If you can't afford to raise your kids, that's your fault; don't have them.

 

[PrinceofWands]

-8.78%

 

[EagleKeeper]

Originally posted by: Chaotic42

Originally posted by: Mermaidman

Originally posted by: Chaotic42
Damned loafers with your families and houses!

Wait till you hear about EIC . . . :|

They need to tax people with kids more than single people. School isn't free. Stop paying for school with property tax and make the damned parents pay for it.

tell your parents that

 

[Chaotic42]

Originally posted by: EagleKeeper
tell your parents that

Will do.

I wonder how much they would have to tax parents if they exempted non-parents from school taxes.

 

[KaChow]

Effective 16.54% fed, 5.4% state for a total of about $36k in taxes. Next years federal will definitely be worse because they wife just won a decent government contract.