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re: Jobs that you can realistically expect to earn $300k+ a year
Posted on 12/27/23 at 2:48 pm to XenScott
Posted on 12/27/23 at 2:48 pm to XenScott
quote:
The 35 and 37% brackets chews $500K up pretty quick. It sucks and not even 7 figure people should have to pay this much. It’s ridiculous.
Just emphasizes need for utilizing all pre tax contributions. It also helps if it’s dual income versus single earner.
Max 401K is $48K
HSA is $3700
FSA for childcare is $5K
While only a dent, it does save at the marginal rate and helps blend the effective tax rate down into the high 20s.
2
Posted on 12/27/23 at 3:50 pm to lynxcat
Good, simple, valuable stuff right here.
Still super depressing that a half million dollars pretty firmly lands you in middle/upper middle class in most major cities these days.
No one is hurting by any means at that rate but 2-3 kids, a house big enough for them, a couple reasonable vacations/year and that money really isn't going that far towards "building wealth".
Crazy times.
Still super depressing that a half million dollars pretty firmly lands you in middle/upper middle class in most major cities these days.
No one is hurting by any means at that rate but 2-3 kids, a house big enough for them, a couple reasonable vacations/year and that money really isn't going that far towards "building wealth".
Crazy times.
This post was edited on 12/27/23 at 3:52 pm
Posted on 12/27/23 at 4:29 pm to lynxcat
quote:
While only a dent, it does save at the marginal rate and helps blend the effective tax rate down into the high 20s.
Yep.
Obviously the higher marginal rates hurt. They suck arse.
But at least you have to be pretty deep into them for cash comp before you are actually hit by them.
My taxable income is over 100k lower than my actual gross and lower still from my total cash comp.
Still sucks tho.
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