9.89%

BALLA

1/29/2013 1:28:55 AM

is this counting all taxes, even payroll/self-employment, and at all levels

1/29/2013 1:31:00 AM

When you file with TurboTax and save your documents it will tell you what they calculated.

1/29/2013 1:33:43 AM

FreeFile Fillable Forms 4LYFE

1/29/2013 1:35:32 AM

2% (medicare), got to love being an expat come tax season!!

1/29/2013 2:01:37 AM

0%. Thanks, Afghanistan.

1/29/2013 6:19:34 AM

ITT: Poor people

1/29/2013 9:38:27 AM

27%

1/29/2013 9:51:27 AM

When you factor in everything between income taxes, capital gains, dividend, gas tax, sales tax, etc. Id imagine most of us are taxed well over 50% of our income.

1/29/2013 9:55:53 AM

Taxes make the world go 'round brah.

BUT, pre-tax deductions help the situation a lot, especially with 401k or something like that, FSA, and HSA accounts.

[Edited on January 29, 2013 at 10:03 AM. Reason : /]

1/29/2013 10:01:51 AM

I typically live near the capital gains tax rate which was 15% for last year, but 20% for this year.

1/29/2013 10:09:53 AM

Also, if you can put all of your bonuses in your retirement plan, that will lower your taxable income but with the caveat of having to wait to get the money until you are at least 59 1/2 years old

1/29/2013 10:12:51 AM

This thread stirs many emotions.

1/29/2013 10:54:27 AM

dont know, but i do know it's TOO DAMN HIGH

1/29/2013 1:13:22 PM

Quote :

"When you factor in everything between income taxes, capital gains, dividend, gas tax, sales tax, etc. Id imagine most of us are taxed well over 50% of our income."

I seriously doubt that.

1/29/2013 1:18:58 PM

just add up all the percentages, so 30% + 8% + 2% +...

OMG I'M TAXED OVER 100% PERCENT!

1/29/2013 1:21:31 PM

Quote :

"When you factor in everything between income taxes, capital gains, dividend, gas tax, sales tax, etc. Id imagine most of us are taxed well over 50% of our income."

I attempted to record all taxes paid beginning January last year, but it got to be overwhelming and I stopped around April or May

i'm probably around 30% after taking everything into account

1/29/2013 1:21:50 PM

Yeah, if I counted everything I am taxed other than just income tax, absolutely it would be in the 33-37% range. I pulled this number out of my ass be assuming that it would mostly like be more than 30% but not more than (or could be rounded up to) 40%.

[Edited on January 29, 2013 at 1:29 PM. Reason : /]

1/29/2013 1:28:44 PM

plus everything you buy at the store has hidden embedded taxes. the product manufacturer, distributor and the store all raise the price of the product to cover their taxes. this is one of the reasons i like the fairtax which removes the embedded taxes

1/29/2013 1:35:04 PM

62%. i suck at taxes

[Edited on January 29, 2013 at 1:56 PM. Reason : it's ok, the government knows how to better spend my money than i do. ]

1/29/2013 1:56:10 PM

I filed with turbotax but I don't see any rates

Nice. 6.28%. I'm poor

[Edited on January 29, 2013 at 2:25 PM. Reason : ~]

1/29/2013 2:15:07 PM

Print out your documents (save as a PDF rather). It will be on the first page.

1/29/2013 2:17:12 PM

It's around 40-50% considering federal, FICO, state, and sales tax. Maybe more, I'm not sure I'd like to calculate all the different damned sales tax. Unlike so many of you fuckers I don't have kids or own a home, so I get pretty much nothing in terms of deductions or credits.

[Edited on January 29, 2013 at 3:05 PM. Reason : sdsd]

1/29/2013 2:58:50 PM

i don't pay taxes. not even gas tax.

1/29/2013 3:03:19 PM

28%

50%, wtf, and why are you guys including sales tax?

1/29/2013 3:21:13 PM

Single, white, middle class, successful, male.

Yep, fucked in the ass.

50+

1/29/2013 3:25:15 PM

For the purposes of this thread, I'm sure the OP is referring to federal income tax

1/29/2013 4:27:10 PM

only 11.82% somehow...

1/29/2013 4:30:39 PM

^^ I forgot to clarify. Thx.

1/29/2013 10:42:37 PM

13.88% federal income tax rate

1/29/2013 10:54:22 PM

I think i'm gonna borrow some money from westernsky, they seem legit.

1/29/2013 10:55:42 PM

Don't pay it back. Obama says its ok

1/29/2013 11:39:44 PM

16.7% federal

You 50% people are full of shit

1/30/2013 7:35:26 AM

My saying 50%+ was based on if you kept track of every single tax you pay over a year I would guess it adds up to over 50% of your yearly income.

1/30/2013 8:47:18 AM

You're an idiot who doesn't understand taxes and/or can't do math.
No one pays more than 50% in taxes.

1/30/2013 9:04:03 AM

98.6%

o/

1/30/2013 9:07:10 AM

I already lose 25% of my check so you are saying between things like gas tax, sales tax, taxes on cable, cell phone, car, property etc there is no way that can add up to another 25%?

1/30/2013 9:07:29 AM

Yes, that's what I'm saying.
If you make $40k a year then you're saying you pay $10k in sales/property/gas/etc taxes. Does that sound logical?

1/30/2013 9:11:38 AM

^^ all of those other taxes are on progressively smaller and smaller percentages of your income, so you don't just add them all up. I don't see how you can assume that a bunch of things taxed below 25% will add up to be another 25% of your income.

1/30/2013 9:33:07 AM

Well, let's see... FICO is 6.2%, my federal rate is 25%, state is another 6-8% or so. It's not that hard to imagine that I could get taxed another 7% of my income in gas, sales, property, etc.

1/30/2013 9:38:56 AM

Fair enough but either way its a lot higher than you want to think about when you really add it all up.

1/30/2013 9:40:45 AM

What's your effective federal tax rate?
If you knew what that number was then you'll probably be surprised how low it actually is.

1/30/2013 9:42:51 AM

Apparently you all missed the sarcasm in this post

Quote :

"just add up all the percentages, so 30% + 8% + 2% +... OMG I'M TAXED OVER 100% PERCENT!"

1/30/2013 10:09:04 AM

Federal always works out ok I seem to get a refund every year. State taxes have been raping me every year for the past few though. Waiting to do mine this year before I goto my owner and just tell him to start taking more out because that random 1500 dollar bill really blows.

1/30/2013 10:10:32 AM

Did you figure out your effective rate? It's easy to do. You probably don't even pay the equivalent of your marginal fed rate in fed and state taxes combined.

1/30/2013 1:25:34 PM

Quote :

"Single, white, middle class, successful, male. Yep, fucked in the ass. 50+ "

Oh you poor white person, you get taxed so much more

1/30/2013 3:42:37 PM

YOU HAVEN'T HEARD ABOUT THE WHITE TAX?????

1/30/2013 3:47:01 PM

10.3% Federal and 5.3% state based my my 2011 returns and assuming that I even know what I'm calculating.

1/30/2013 3:50:33 PM

Quote :

"Well, let's see... FICO is 6.2%, my federal rate is 25%, state is another 6-8% or so. It's not that hard to imagine that I could get taxed another 7% of my income in gas, sales, property, etc."

I didn't notice this post before.
At first I was going to question Kurtis636's intelligence but now I just feel sad. A massive portion of our country's taxpayers are in the same boat and simply don't understand taxes.

The 25% federal rate is a marginal tax rate. If you make $40k a year, the first $8700 you make is taxed at 10% and the money you make from $8701 up to $35350 is taxed at 15%.

That's $870 for the first bracket and $3998 for the second bracket. That last $4650 you earned gets taxed at the 25% marginal rate for $1162. Add up those three tax amounts and you get $6028.
($6028/$40000)x100=15% effective tax rate without even taking into account any credits or deductions.

25% in federal taxes? Nigga, please. You don't even pay 25% in federal+state income taxes.

1/31/2013 12:04:48 AM

^ anyone who has said more than 30 is either filthy loaded or surprisingly dumb. It's a progressive tax rate, you're not magically locked into some figure at the top without deductions, 401k tax free investments, etc etc etc.

Sigh.

[Edited on January 31, 2013 at 12:09 AM. Reason : With that being said, Im around 12%]

1/31/2013 12:09:08 AM