2013 HHI and paid tax

[Anonymous]

I like the other post, but I think it is more useful to post your HHI and pain tax.

I start:

HHI: 380k (took out 40K from retirement).
Fed tax rate: 24.5%, paid about $100k.
Virginia tax: paid 23K.

[Anonymous]

HHI: $446,00

Federal tax paid: $116,000

VA tax paid\: $23,800

[Anonymous]

HHI: $198k (gross income)
Federal Tax: $18,459
VA Tax: $6,289

[Anonymous]

Approx 90k
Federal tax paid: Zero
DC tax paid: Zero (I think, it might have been a couple of hundred for DC, don't remember exactly)

[Anonymous]

Anonymous wrote:Approx 90k
Federal tax paid: Zero
DC tax paid: Zero (I think, it might have been a couple of hundred for DC, don't remember exactly)

Wow! I am surprised you didn't pay anything! Do you have a ton of kids or a huge mortgage? Or gave away a lot to charity?

[Anonymous]

HHI $485
Feds $55k
MD $36k

We have a complicated tax situation where a lot of income is from business ownership as dividends.

[Anonymous]

AGI $275
Feds 41K (15%)

[Anonymous]

previous poster--
also pay state but I'm not sure how much.

[Anonymous]

Anonymous wrote:HHI $485
Feds $55k
MD $36k

We have a complicated tax situation where a lot of income is from business ownership as dividends.

This is why all income should be taxed equally.

[Anonymous]

325k hhi
Fed 79k
VA 16k
This year sucked for taxes. Oh and a big fuck you to the irs for digging up a 3 year old under payment of a few k, you felt like that was needed after all the shit we pay (ok now I feel better)

[Anonymous]

Anonymous wrote:

Anonymous wrote:Approx 90k
Federal tax paid: Zero
DC tax paid: Zero (I think, it might have been a couple of hundred for DC, don't remember exactly)

Wow! I am surprised you didn't pay anything! Do you have a ton of kids or a huge mortgage? Or gave away a lot to charity?

2 kids, about 10k in mortgage deductions. Usually we pay about 5k federal but we had a ton of losses related to trusts/inheritance this year. Plus allowable losses due to a rental property. Plus child credits, charitable donations (a lot again due to inheritance and donating furniture). Then 401k and IRS deductions. I don't remember what else right now, but it was an unusual collection of events that bought our taxable income down below $20k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Approx 90k
Federal tax paid: Zero
DC tax paid: Zero (I think, it might have been a couple of hundred for DC, don't remember exactly)

Wow! I am surprised you didn't pay anything! Do you have a ton of kids or a huge mortgage? Or gave away a lot to charity?

2 kids, about 10k in mortgage deductions. Usually we pay about 5k federal but we had a ton of losses related to trusts/inheritance this year. Plus allowable losses due to a rental property. Plus child credits, charitable donations (a lot again due to inheritance and donating furniture). Then 401k and IRS deductions. I don't remember what else right now, but it was an unusual collection of events that bought our taxable income down below $20k.

Impressive!

[Anonymous]

Adjusted Gross Income: $260k
Fed: $60k

[Anonymous]

Adjusted Gross Income: $260k
Fed: $60k - effective tax rate 25.2%
Md: $24k - effective tax rate 8.2%

[Anonymous]

Anonymous wrote:HHI: $198k (gross income)
Federal Tax: $18,459
VA Tax: $6,289

How come is your federal tax so low? A lot of deductions?

Did you reach AMT?