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re: Creating Wealth and the people you know who have it ...
Posted on 3/23/09 at 12:21 pm to MileHigh
Posted on 3/23/09 at 12:21 pm to MileHigh
Assuming no deductions, no kids, $300K agi, you're looking at about $77 grand in income taxes. So depending on property taxes and state income taxes, it's probably just barely possible to hit $100K.
But this assumes no mortgage, no IRA, literally somebody paying the maximum amount of taxes they possibly can.
I guess if you count sales tax as well you will be over $100K. Sales tax is the "silent killer" because you don't get a statement at the end of the year showing what the total damage is like you do for income and property taxes.
But this assumes no mortgage, no IRA, literally somebody paying the maximum amount of taxes they possibly can.
I guess if you count sales tax as well you will be over $100K. Sales tax is the "silent killer" because you don't get a statement at the end of the year showing what the total damage is like you do for income and property taxes.
2
Posted on 3/23/09 at 12:35 pm to Cold Cous Cous
Posted on 3/23/09 at 12:46 pm to Cold Cous Cous
quote:
But this assumes , no IRA
The wouldn't be eligible for a traditional IRA.
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