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What percentage do you wind up paying?

Discussion in 'Business & Tax Advice' started by Zozja, Feb 2, 2010.

  1. Zozja

    Zozja Registered Member

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    Hey blackhatters,

    I'm curious. When all is said and done with deductions and such, what percent of your income do wind up forking over for taxes? I know that the more you make the more you pay but I'm not sure how much.

    From what I understand it can add up to dam near 40-45% of income if you make over six figures! Is this your experience? If so, that's depressing.

    And what kind of corporation is most advantageous for taxation purposes?

    I appreciate your insights!

    Zozja
     
  2. dnreg

    dnreg Jr. VIP Jr. VIP Premium Member

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    All things considered, even after taking expenses out I end up paying over 45%. :'(
     
  3. w84it

    w84it Regular Member

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    damn... what Country?
     
  4. dnreg

    dnreg Jr. VIP Jr. VIP Premium Member

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    The good ol' US of A!
     
  5. clopper

    clopper Regular Member

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    USA is the worst for taxes. After property tax and sales tax it's more like 50%+ for me.
     
  6. billygood

    billygood Senior Member

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    well I end up paying close to 28% to 29% on average on all my web income, I con not find enough deductions and tax credits. but whom am I to complain, I know guys that live in NYC that pay in excess of 35%
     
  7. The_Architect

    The_Architect Newbie

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    I'm an expatriate... Whoo hoo :D
     
  8. rubberband

    rubberband Registered Member

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    Warren Buffet made $46,000,000 in 2006 and was complaining because he only had to pay 17.7% percent in taxes (and he said that was even without trying to cheat them). His secretary who only made $60,000 had to pay 30%.
     
  9. onelifewunlove87

    onelifewunlove87 Power Member

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    His secratary should be making more then 60k thats not right! She works for Warren Buffet. America sucks for taxes. With what we pay we should at least get health care out of the deal. Im around 30-35% on after deductions wich I could only muster less the 10% of my income in deductions. Was tempted to start twisting numbers but fear the audit.
     
  10. Grandslam

    Grandslam Senior Member

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    There's no such thing as an unfair wage. If you work for it, its a fair wage. No one's forcing her to work there. I don't like how BHW has slowly been becoming more socialist, at least as far as more and more socialist-leaning members appearing.

    And 60,000 is damn good for a secretary. DAMN good.

    America is only the worst for taxes if you're an employee, are self employed, or are a small business owner. If you're a big business owner or real estate investor, the tax advantages here are superb. Why do you think the rich are getting richer and the poor are getting poorer? :rain:
     
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  11. onelifewunlove87

    onelifewunlove87 Power Member

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    LOL take it ez bro the Buffet thing was a joke and yes I would like to have healthcare for myslelf and my family when paying 30-35% taxes. Does that make me a socialist? "Socialist-leaning" people are not born or bred. They are created due to circumstances in which they live. If there is an increase in socialistic folks its due to the circumstances of their time. Anyway I do not consider myself a socialist nor do I appriciate being attacked for replying to a post I dont claim to be 100% right or an expert on much of anything so I am not looking of a self-righteous argument.
     
    Last edited: Feb 26, 2010
  12. NoSuchAgency

    NoSuchAgency Junior Member

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  13. Grandslam

    Grandslam Senior Member

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    Calm down there bud, you're not getting "attacked". I never even mentioned you by name. I simply said that there are more and more socialist-leaning members coming out of the bushes on this site.

    And I never said the healthcare thing was socialist. I was saying the "buffett should pay her more because he's rich" was socialist. Regardless whether it was a "joke" or not, that statement is socialist. Plain and simple. For that matter, you never said it was a joke. How am I supposed to know that?

    I don't doubt you want healthcare, believe me I understand. But you have the same opportunity as everyone else to get healthcare - its all about priorities and how much time and effort you're willing to sacrifice to get ahead.

    And if you haven't noticed, what has the government run that hasn't gone bankrupt? Are you sure you want them dicking around with something that could mean life or death for you or a loved one?
     
  14. seojumper

    seojumper Regular Member

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    I pay around 35% if I work through company in my country. But that is without sallary.
    You have to payout the profits from the company. Then you have to pay for medical insurance and pension.

    But through offshore company I pay only about 4% for costs :)
     
  15. bizminder

    bizminder Registered Member

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    invest in tax deduction schemes like insurance etc....you will get some relaxation. However you will have to pay nearly 40%
     
  16. MattDunbar

    MattDunbar Registered Member

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    After deductions, 27% last year, probably a bit more this year. I'm in Canada (Toronto, Ontario) if you're curious.

    Without writing stuff off (incl 4 computers, 2 of which are really used for playing games, one which belongs to my dad, but bought under my name), I'm approaching 40%.
     
    Last edited: Mar 31, 2010
  17. darkface

    darkface Senior Member

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    Yeah use really don't need to complain. I am from Germany take a look at our taxation...