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If you live in California and make around $100,000 you face a marginal tax rate of 52.6% (i.e on $1,000 of additional income you would pay $526 in tax and keep
by spikels 13y ago
If you live in California and make around $100,000 you face a marginal tax rate of 52.6% (i.e on $1,000 of additional income you would pay $526 in tax and keep $474). Making $100,000 in San Francisco you are definitely not rich. Of course you also have to pay 7.5% sales tax, the new gross receipts tax, and various other taxes and fees.
Federal Income Tax 28.0% ($89,350-$186,350 bracket)
Self-Employment Tax 15.3% ($0-$117,000 bracket)
CA State Income Tax 9.3% ($49,774-$254,250 bracket)
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Total Marginal Tax. 52.6% ($89,000-$117,000 bracket)
- sharemywin 13y agoYou should come to Ohio. Here's a job listing for you. And you won't have to worry about most of those pesky taxes. http://columbus.craigslist.org/mnu/4333315897.html http://columbus.craigslist.org/mnu/4333315897.html The highlights: Must be available to work 7 days/week when necessary Must be able to lift 80 lbs. consistently, Must be able to work in cold temperatures
- spikels 13y agoNot much better in Ohio: Federal Income Tax 28.0% ($89,350-$186,350 bracket) Self-Employment Tax 15.3% ($0-$117,000 bracket) OH State Income Tax 4.7% ($83,350-$104,250 bracket) ---------------------------------------------------- Total Marginal Tax. 48.0% ($89,000-$104,250 bracket) If I was you I'd consider a job in California. We are always looking for people to help pay for the underfunded pensions of state workers who retired in the 1990s. And we never have cold weather.