What do you pay in income taxes?

[Jeff7]

...
Single, no deductions?

Yup.
So there's the 25% bracket, and then state income tax is 3.07%, and 1% local tax.

401k contributions did slice away a lot of that 25% bracket though.


(Now I just wish our plan options weren't so expensive. And I just got something in the mail that they're tacking on some extra annual fees in addition to the expense ratios. Dandy.)

 

[iGas]

I didn't know American count their retirement contribution (401k) as deduction. If that is the case then my "deductions" would be over 53%.

 

[dennilfloss]

My income (provincial disability benefit) is not taxable but I do get a return (called Ontario Trillium Benefit) of ~$60 per month to compensate for the provincial sales tax and my rent as I am in the low-income bracket.

 

[Jeff7]

I didn't know American count their retirement contribution (401k) as deduction. If that is the case then my "deductions" would be over 53%.

Well, I guess it might not be a "deduction" technically, but whatever dollar amount you contribute to your 401k is not taxable income. It comes out of your paycheck, then the income tax gets applied to what's left.

 

[herm0016]

20-40k.

hopefully less now that my income is out of country. still figuring all that out.