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re: individual income taxes
Posted on 3/22/10 at 12:32 pm to villeplattehigh1986
Posted on 3/22/10 at 12:32 pm to villeplattehigh1986
For a single person who doesn't own a home 14% would be very low. For a married couple with children who own a home it could be about right.
1
Posted on 3/22/10 at 12:46 pm to Poodlebrain
Try this:
33% federal income tax
1.45 % medi-care (unlimited)
6.2 % FICA up to $106k
6.% La Income tax
After that I pay 17% tax on gas and 10% on merchandise and 5.75% on groceries.
Of course I cant participate in a Roth IRA and my 401k is limited by the participation rates of other employees because I am " highly compensated".
33% federal income tax
1.45 % medi-care (unlimited)
6.2 % FICA up to $106k
6.% La Income tax
After that I pay 17% tax on gas and 10% on merchandise and 5.75% on groceries.
Of course I cant participate in a Roth IRA and my 401k is limited by the participation rates of other employees because I am " highly compensated".
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