Page 1 of 3 123 LastLast
Results 1 to 10 of 23

Thread: Percent Tax You Paid To Income

  1. #1
    heydude
    Guest

    Percent Tax You Paid To Income

    Add the tax federal and state and compare to gross income. What percent did you pay?

    I paid 12 percent.

  2. #2
    Senior Member freein05's Avatar
    Join Date
    Dec 2010
    Location
    Calaveras Big Trees, California
    Posts
    705
    I also paid about 12% in Federal and state taxes. I live in California a high tax state.

  3. #3
    Senior Member
    Join Date
    Dec 2010
    Location
    Toronto, Canada
    Posts
    523
    Did you pay 12% flat? Does your tax rate not climb as your income grows? Eg 12% taxed up to $40k. 15% taxed from $40,001-$60k. 20% from $60,001 - 75k, etc

    or is it 12% regardless of income?

    Here in my province we pay fed-which goes up from 15% to 22%, 26% and 29% (for over 132k per year) and then tack on Prov. tax-smaller-like 5%, 7%, 11% is highest

    So..I pay 20% (both fed & prov) for first 40k (approx) then 32% for the next big chunk and so on....

  4. #4
    Senior Member screamingflea's Avatar
    Join Date
    Dec 2010
    Posts
    172
    My income is low enough that I've been paying 0% for almost a decade. Now that I live in Oregon I don't pay a sales tax either.

  5. #5
    Senior Member
    Join Date
    Jan 2011
    Posts
    3,737
    I pay way too much (a lot more than Romney %wise) but am happy because I have the income to support our family.

  6. #6
    Senior Member bae's Avatar
    Join Date
    Jan 2011
    Location
    Offshore
    Posts
    11,477
    Many years, 0% in federal tax, and this state has no income tax. I arrange my affairs to have no taxable income as often as possible. I suppose that could be reckoned as 100% as well :-)

  7. #7
    Senior Member
    Join Date
    Apr 2011
    Posts
    2,819
    we pay 15% for our business taxes (GST). and that's it for now. nothing in the us and no income tax here (don't earn enough). and then, like bae, i arrange things to pay less.

  8. #8
    Senior Member freein05's Avatar
    Join Date
    Dec 2010
    Location
    Calaveras Big Trees, California
    Posts
    705
    The stated 12% is my effective rate for both Fed and state. As most of my income comes from investments I control what I invest in for tax advantage. I try to invest in dividend paying stocks that are qualified for the max 15% rate, muni bonds, and T-bills which are free from state tax. I also control how much I take out of my IRA.

  9. #9
    Senior Member jp1's Avatar
    Join Date
    Dec 2010
    Location
    San Francisco
    Posts
    9,802
    Finally did my taxes last night. 15% federal, 5% state. Last year was 14.2% federal, 5% state.

  10. #10
    Senior Member JaneV2.0's Avatar
    Join Date
    Jan 2011
    Posts
    15,489
    I'd say between fifteen and twenty percent, because my property taxes are high.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •