Archived posting to the Leica Users Group, 2012/03/22
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Bharani, What is the effective tax you pay on gross income? In most countries, tax brackets or slabs have no meaning, what with the slew of loopholes and deductions available. Cheers Jayanand On Fri, Mar 23, 2012 at 9:12 AM, scleroplex <scleroplex at gmail.com> wrote: > not so. > you just have to have no dependents. > as a single man with no family and no mortgage i have been in the highest > tax bracket for 15 years. > when my gross income was less than $70,000, my total tax rate was 38%. > now it is 44% and i do not make more than $200,000. > > i don't particularly mind it as brookline does me nicely and my tax > accountant is honest. > many people in my tax bracket fiddle with the itemised deductions, declare > a home office, do a section 179 deduction for everything and get their rate > down to 13%. > i prefer to be able to look anyone in the eye. and i like services like > police and fire and ambulance. > our fire service here does not stand around watching a house burn down > saying the folks did not pay the $70 fee. quality of life needs to be paid > for. > bharani > > > Date: Thu, 22 Mar 2012 20:02:41 -0500 > From: Ken Carney <kcarney1 at cox.net> > Subject: Re: [Leica] Fuji X-Pro1 - Jim > To: Leica Users Group <lug at leica-users.org> > Message-ID: <4F6BCBB1.1030606 at cox.net> > Content-Type: text/plain; charset=windows-1252; format=flowed > > Yes, but that marginal federal rate does not begin until taxable income > somewhere around USD200,000. If you are paying an aggregate rate of > 46%, that is a much higher income than $200,000. > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more information >