Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Political Discussion
Reply to "Ryan's Tax Rate"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=jsteele][quote=Anonymous]The Social Security tax rate for self-employed is 10.4 percent through the end of the year. The Medicare tax rate is 2.9 percent for self-employed. Income 35 ss 10.4 med 2.9 Md tax 5 ..53.3%[/quote] The 35% rate is marginal and only [b]applies to income over $388,351[/b]. Everything below that is taxed at a lower rate. What the OP is trying to point out is that anybody whose effective income tax rate is 35% needs a better accountant. Using Ryan as an example, in 2011 he and his wife had an adjusted gross income of $323,416. That should have put them in the 33% bracket which is the second highest bracket and only 2% lower than the highest. But, their effective rate was 20%. [/quote] Only applies to [i]taxable[/i] income over $388,351. So, you could earn $450,000 and have $75,000 worth of deductions (not outside the realm of possibility) and not be in the top bracket.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
