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Started By
Message
Whats the average OT tax rate?
Posted on 10/19/16 at 4:59 pm
Posted on 10/19/16 at 4:59 pm
Recent college grad here. I've been working pt since I was 15, recently I went full time. Currently, "The Gubment" is taking 27% from from every dollar I earn. Is that normal?
Hypothetical Example : Taxible Earnings (100,000)- Deductions (27,000)= Net pay(73,000)
This does not include health insurance.
Hypothetical Example : Taxible Earnings (100,000)- Deductions (27,000)= Net pay(73,000)
This does not include health insurance.
This post was edited on 10/19/16 at 5:12 pm
13
Posted on 10/19/16 at 5:00 pm to tharre4
ever since i lost over 900,000,000 that one year, i havent had to pay taxes since then
Posted on 10/19/16 at 5:00 pm to tharre4
0 because I'm smart... as they say.
Posted on 10/19/16 at 5:01 pm to tharre4
0% because I'm smart like the donald
Eta: dang, beat me to it
Eta: dang, beat me to it
This post was edited on 10/19/16 at 5:02 pm
Posted on 10/19/16 at 5:02 pm to tharre4
quote:
Currently, "The Gubment" is taking 27% from from every dollar I earn.
What are you including here? Federal Income tax? State income tax? FICA taxes? Sales taxes?
Posted on 10/19/16 at 5:02 pm to tharre4
20%. All capital gains.
Posted on 10/19/16 at 5:02 pm to Ash Williams
MAGA
Posted on 10/19/16 at 5:02 pm to tharre4
quote:
"The Gubment" is taking 27% from from every dollar I earn. Is that normal? F the IRS and the ATF.
You are paying State, Federal, SS and Medicare taxes.
Not all of that is IRS. Are you asking tax rate or combined rate?
My rate for 2016 is $5,183.75 plus 25% of the amount over $37,650
I then pay 12.4% just for SS
then 2.9% for Medicare then
then 6% for louisiana taxes.
It's crazy and complicated as hell man.
This post was edited on 10/19/16 at 5:07 pm
Posted on 10/19/16 at 5:05 pm to Napoleon
what parentage of your paycheck do you pay to FICA, LA, and FED tax. I'm not counting on SS being around by 2060 .
Posted on 10/19/16 at 5:10 pm to tharre4
quote:
Recent college grad here. I've been working pt since I was 15, recently I went full time. Currently, "The Gubment" is taking 27% from from every dollar I earn. Is that normal? F the IRS and the ATF.
This is one of the more clever subtle brags I've seen in a while.
Posted on 10/19/16 at 5:11 pm to tharre4
I have to be fricking up somewhere but I think 41%
I have to pay my employer contributions myself and all that jazz. 22.5% IRS, 12.9 SS, 2.9 MC, 6% LA
yeah that can't be right I actually paid 20.5% total of income in taxes to the IRS and LDR combined not 41.
I have to pay my employer contributions myself and all that jazz. 22.5% IRS, 12.9 SS, 2.9 MC, 6% LA
yeah that can't be right I actually paid 20.5% total of income in taxes to the IRS and LDR combined not 41.
This post was edited on 10/19/16 at 5:14 pm
Posted on 10/19/16 at 5:12 pm to southernelite
quote:
This is one of the more clever subtle brags I've seen in a while.
bragging about what exactly?
This post was edited on 10/19/16 at 5:14 pm
Posted on 10/19/16 at 5:13 pm to Napoleon
Paying taxes is for saps.
Posted on 10/19/16 at 5:13 pm to tharre4
You aren't paying 27% federal taxes right out of college.
You're probably closer to 15-20%.
You're probably closer to 15-20%.
Posted on 10/19/16 at 5:14 pm to tharre4
quote:
quote:
This is one of the more clever subtle brags I've seen in a while.
bragging about what exactly?
Being in the middle class tax bracket I guess.
Posted on 10/19/16 at 5:15 pm to GRTiger
not specifically Fed tax. Combined Fed, State and SS(which most likely will be gone by 2060)
Posted on 10/19/16 at 5:15 pm to tharre4
quote:
what parentage of your paycheck do you pay to FICA, LA, and FED tax.
I have to wait until tax return to really figure out what I'm paying in taxes. Looking at your paycheck is just an estimate and not always that close (it's also easily manipulated by changing your W-4).
Swings in deductions really impact the actual tax rate, good or bad. Bonuses too. SS and Medicare stop being deducted after a certain time/pay threshhold in the year, etc. Any particular paycheck doesn't tell me all that much really.
This post was edited on 10/19/16 at 5:16 pm
Posted on 10/19/16 at 5:19 pm to tharre4
Ah, that makes more sense. Is state tax progressive? I don't have them so not sure.
Posted on 10/19/16 at 5:28 pm to tharre4
You only pay 27%? Are you a teacher or something
Posted on 10/19/16 at 5:37 pm to el Gaucho
1099 w/ a good Cpa. I pay a lot less than 27%
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