A Background Of Taxes - Part 1: Difference between revisions
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Latest revision as of 23:53, 10 March 2025
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The old adage is crime doesn't pay, only one certainly can wonder sometimes about the truth of it given the number of politicians that frequently be burglars! Regardless, the fact an individual making money from against the law doesn't mean you wouldn't have to pay taxes. Correct. The IRS wants its unfair share of one's ill gotten gains!
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My personal finances would be $117,589 adjusted gross income, itemized deductions of $19,349 and exemptions of $14,600, making my total taxable income $83,640. My total tax is $13,269, I have credits of $3099 making my total tax in 2010 $10,170. My increase for the 10-year plan would check out $18,357. For that class warfare that the politicians in order to use, I compare my finances for the median determines. The median earner pays taxes of 9.9% of their wages for the married example and 7.3% for the single example. I pay 11.7% for my married income, can be 5.8% in excess of the median example. For that 10 year plan those number would change to five.2% for the married example, 11.4% for that single example, and twelve to fifteen.6% for me.
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