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Not even close, the marginal federal tax rate is 12% for income between $11k and $44k [0]. This doesn't take into account state/property taxes, but it's nowhere
by ativzzz 2y ago
Not even close, the marginal federal tax rate is 12% for income between $11k and $44k [0]. This doesn't take into account state/property taxes, but it's nowhere near
[0]https://www.irs.gov/filing/federal-income-tax-rates-and-brackets https://www.irs.gov/filing/federal-income-tax-rates-and-brac...
- codezero 2y agoMost people working in tech are making much more than that as are anyone considering moving to Portugal for a tax break. It’s a lot closer to 24-32% for that demographic.
- lostmsu 2y agoBoth calculations should include VAT btw
- s1artibartfast 2y agoyou have to adjust for median income and PPP. also, state taxes are often substantial.