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Reply to "if your HH income is around 200K..."
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[quote=Anonymous][quote=Anonymous]"You must be a very good CPA. Here's break down. Federal tax in average 20% with your HHI, VA tax 5.7%, SS/Medicare 6.5%, real property tax about 1% of house value (let's say your house is $400K. it is 2% of your $195K HHI). If my math is correct, it is more than 30%. How about sale tax, car tax?" Are you seriously telling me that I don't know how much I pay in taxes each year??? That takes some balls, and pretty much discredits anything you say. [/quote] Our taxes are typically in the 18-20% range as well, once you take out all the credits/deductions (retirement, healthcare, mortgage interest, etc.) we keep thinking we'll get hit with AMT, but thankfully not yet. Lots of people with good salaries pay less than 30% when it's all said and done.[/quote]
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