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A side question on his net calculation, how did he end up with 63% tax rate? anyone care to elaborate
by sybhn 14y ago
A side question on his net calculation, how did he end up with 63% tax rate? anyone care to elaborate
- SeckinJohn 14y agoI am curious about this too. Please elaborate if you know anything about this.
- oijaf888 14y agoJust using rough numbers: 33% federal income tax 6.2% on the first 113K for Social Security 1.45% for Medicare 9.3% for CA state income tax Plus any local taxes? Gets to about 50% there. I know in NYC when the company I was with sold, my total tax rate was 52% on it.
- sybhn 14y agoright, i would expect 50% to go to the tax man, unless waiting long enough to get into long term capital gain. His 63% threw me off there, sounds like France!