Tax Rates Reflect Life: Difference between revisions

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Revision as of 16:26, 7 January 2025

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What it is actually accepted as your 'income' tax has 2 tax brackets each with its own tax rate from 10% to 35% (2009). These rates are applied to your taxable income which is income more your 'tax free' livelihood.

I was paid $78,064, which I'm taxed on for Social Security and Healthcare. I put $6,645.72 (8.5% of salary) transfer pricing in a 401k, making my federal income taxable earnings $64,744.

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