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Ah, found a decent federal graph of brackets:
So yes, he could get hit with 30% tax on his whole income, even just from federal income tax. Then there's CA.
Ah, found a decent federal graph of brackets:
So yes, he could get hit with 30% tax on his whole income, even just from federal income tax. Then there's CA.
I believe unless you are 1. blind 2. crippled 3. mentally incapable you deserve nothing from other people.
Father, boyfriend, sugar daddy, simp friend, older brother. husband and Uncle Sam comprise the list of those who are asked to "help" a female throughout her life.
$350k x .28= $98k. There's a shit ton to factor in here. Standard deduction or itemized? Just standard deduction brings that down to $75k.
$250k federal is around $25k in federal taxes
I'll also admit that I don't understand the AMT
max we've paid federally is $40k on just under $300k. Including state taxes. Standard deduction.
WookieMan says
max we've paid federally is $40k on just under $300k. Including state taxes. Standard deduction.
If you're using the standard deduction, then you aren't writing off a huge home mortgage (which is also limited, by the way). Assuming that $300k is wage income — not long term capital gains — That $40k seems a tad low not even counting state taxes.
If you have income derived in California, California will tax you.
Deferring the tax might not avoid it.
The_Deplorable says
Rain water does not go into sewers. And if she is talking storm drains, only paved property has runoff. One's grassy one acre lot has no runoff any more than someone else's 1/2 acre lot. If one has a bigger lot, then one is using more gravity and sunshine as well. In that case, I want a carbon credit for all the CO2 my lawn took out of the air.
"Rain water does not go into sewers."
HeadSet says
"Rain water does not go into sewers."
Yes it does. That is the problem with most water treatment plants in Toronto and the US.
"Not legally. There are separate storm sewers."
WookieMan says
"Not legally. There are separate storm sewers."
No, we do not have separate storm sewers. That is why the entire East Coast of the
United States (for the most part) has Flesh-Eating Bacteria that can kill in less than
24 hours. Stay away.
"Yes, you do have separate storm sewers."
WookieMan says
"Yes, you do have separate storm sewers."
You are dreaming. "Over Half of U.S. Beaches Had 'Potentially Unsafe' Levels of Poop
Contamination Last Year." In other words, if you step in the water you might be dead
in less than 24 hours from Flesh Eating bacteria. In other words the USA lacks very
basic infrastructure like Water Treatment Plants - very cheap and very efficient! The elites
are very busy sending billion$ to Ukraine and not a dime for We The People."
https://www.yahoo.com/entertainment/over-half-u-beaches-had-204747164.html
Pay a little higher taxes and get the right people in office and positions to fix it. It's easier than you think.
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Until the 16th ammendment was passed in the early 1900's, we got by without fedetal income taxes. Tariffs did the trick. Of course, we were not yet the superpower we became, huge millitary and all, and there were not nearly the federally funded social programs we have today.
Frankly, I don't think your average American realizes how heavily they are taxed. Federal. State (with some excaptions) Property. School. Gas. Sales. Etc.
For most in the middle and upper middle class, federal income tax is the biggest share of taxes paid on a percentage basis.
In a modern captalist economy, it makes more sense to me to tax consumption rather than income.
So why not abolish the federal income tax, and instead have a federal tax on goods and services rendered. Better yet, couple it with a balanced budget amment so that the government can't spend money they don't have.
Taxing goods should be straightforward to implement. Buy a bag of rice, clothes, a house, a car, stock, etc. tax it at a nominal rate to raise sufficent revenue to keep the government running. Tax should apply to individuals and corporations alike. I have no idea what the rate would need to be to replace the lost income income revenue, but there must be a way for the been counters to figure that out.
Same holds for services. From your lawyer to your plumber to your accountant.. services rendered should also be taxed... possibly at a different rate than physical goods, since we are a "service based economy".
Just thinking out loud here.. In the 21st century there MUST be a better way to raise revenue than income tax and the various loopholes used to reduce or even avoid ones tax burden.