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What is your effective tax rate?

Posted on 8/18/13 at 3:01 pm
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 8/18/13 at 3:01 pm
When deductions, credits and general shenanigans are done with, what percentage of your net income do you pay in taxes? Or put a greater than x%

Federal:
State:
Medicare&SS (I assume constant?):


Also, what type of big deductions ar eyou taking? Mortgage interest, traditional 401k/IRA etc
This post was edited on 8/18/13 at 3:38 pm
Posted by Sigma_
Member since Jun 2013
46 posts
Posted on 8/18/13 at 3:21 pm to
State 0%
Federal 26% (AMT sucks)
Posted by SmackoverHawg
Member since Oct 2011
27318 posts
Posted on 8/18/13 at 3:31 pm to
I have no clue. Too hard to tell when you're expensing stuff through several businesses. I'll give a rough estimate of...A SHITLOAD.
Posted by LSURussian
Member since Feb 2005
126957 posts
Posted on 8/18/13 at 3:35 pm to
quote:

What is your effective tax rate?

Too much.
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 8/18/13 at 3:37 pm to
You can always give a greater than x%

Posted by Zach
Gizmonic Institute
Member since May 2005
112410 posts
Posted on 8/18/13 at 3:47 pm to
I am not gonna look it up, but I'm sayin 30 mussent.
Posted by LSURussian
Member since Feb 2005
126957 posts
Posted on 8/18/13 at 3:49 pm to
quote:

You can always give a greater than x%

Oh, yeah, mine is definitely greater than X%. (I assume you're expressing it in Roman numerals.)
Posted by GenesChin
The Promise Land
Member since Feb 2012
37706 posts
Posted on 8/18/13 at 3:55 pm to
quote:

LSURussian


Beating out Mitt Romney according to the democrats
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123779 posts
Posted on 8/18/13 at 5:36 pm to
quote:

Too much.
Ditto . . . .

. . . . . and that doesn't include an embarrassing amount of property taxes







Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 8/18/13 at 5:42 pm to
I'm a federal contractor so I'm getting it back anyway.
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123779 posts
Posted on 8/18/13 at 5:58 pm to
Posted by PlanoPrivateer
Frisco, TX
Member since Jan 2004
2788 posts
Posted on 8/18/13 at 7:39 pm to
15.9% for 2012

No state income tax and I’m not including social security. I have additional income as a self-employed contractor that I pay both sides of social security on and I don’t feel like going back to figure it out.

Posted by HortensePowdermaker
Member since Feb 2013
696 posts
Posted on 8/18/13 at 8:12 pm to
quote:

I am not gonna look it up, but I'm sayin 30 mussent.


Does that include state?
This post was edited on 8/18/13 at 8:13 pm
Posted by VABuckeye
Naples, FL
Member since Dec 2007
35477 posts
Posted on 8/19/13 at 8:23 am to
Way too much.
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