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Given the effective tax rate in CA and the outrageous rents I would assume you have no housing costs to manage this. That or you live on the streets
by geggam 10y ago
Given the effective tax rate in CA and the outrageous rents I would assume you have no housing costs to manage this.
That or you live on the streets
- kcorbitt 10y agoYou're right, I was unclear. $50k is our after-tax spending (including housing, which we're renting at market rate). For a couple making $130k like you mentioned above, with the worst-case scenario of 0 deductions or tax credits, total state+federal income tax should come to about $40k, leaving ~$90k after-tax to play with.