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Reply to "How much do you make and spend?"
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[quote=Anonymous][quote=Anonymous]Income $90K Income Taxes $30K [/quote] There is no way you're paying income taxes of $30,000 on gross income of $90,000 and mortgage interest of $14,000. Assuming you itemize (and I do since you have mortgage interest), you'd probably have taxable income around $70,000 or so, which is in the 15% tax bracket for joint filers. If your taxable income was $70,000, your total federal income tax bill would be about $9,630. How are you getting to $30,000? Even if you count FICA (which is not an income tax), that would be another $5,100 or so. Your state income tax is not going to total $16,000. Explain, please. [/quote]
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