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I stopped taking an income because taxes got too high. Investments plus spouse income pushes us into the highest tax bracket for State and Federal (CA is up to
by MagicPropmaker 7y ago
I stopped taking an income because taxes got too high. Investments plus spouse income pushes us into the highest tax bracket for State and Federal (CA is up to 14.5% with both "millionaire taxes) added in. It wasn't worth giving up 56 cents of every dollar to taxes.
I work at a startup now and take no income. I suspect many other people in California are doing the same.
- NotSammyHagar 7y ago"I'm so rich I stopped getting paid because the taxes were just not worth it."
- refurb 7y agoHe said getting paid as "income", not paid in general.