What did you actually pay?

There seems to be two types of posters here. Those who complain that taxes are too high and those that complain that taxes are too low. So how about getting some real data. Lets see who is willing to answer...

What did you actually pay in federal income tax for 2010? And do you think your taxes were too high, too low, or just right.

Income - 206K
Tax - 55k
27%, same as Obama.
A little high.

*Just a percentage would suffice for those that are uptight about anyone knowing what they made.
**Federal Income Tax Only.

10.4%

~10%

0%. With the education tax credit that was raised as part of the stimulus I actually received a refund greater than what I paid in taxes through the year.


That being said, I think the premise of this being only federal taxes is bullshit. I paid a nearly 8.5% sales tax most of the year, property taxes on my rent in a place that isn't cheap to live, and a larger percentage of my income went to SS/Medicare taxes than someone who made 200k. Actually probably not since you're likely self employed but you get the point.

Last year I paid 0% thanks to the Obama electric vehicle tax credit.

17.7%

17%. It used to be in the 20's, but then CG Jr. came along. I also had some cap gains that lowered my effective rate.

I got about 7k back (mostly due to 2 dependents). I made roughly 40K. (Some military benefits are non taxable.)

I think it's a little low, actually.

Quote:

---

Originally Posted by LnGrrrR

I got about 7k back (mostly due to 2 dependents). I made roughly 40K. (Some military benefits are non taxable.)

I think it's a little low, actually.

---

Two dependents in daycare/afterschool + wife in school = Not much in taxes. I am about there as well, with generally some modest tax refund from credits for childcare/tuition.

That will change markedly in a year or two, with fewer deductions and more income from wife after graduation.

(edit)
That would make LnGrrr's effective tax rate -20%

Mine would be on the order of -10%

Quote:

---

Originally Posted by MannyIsGod

That being said, I think the premise of this being only federal taxes is bullshit. I paid a nearly 8.5% sales tax most of the year, property taxes on my rent in a place that isn't cheap to live, and a larger percentage of my income went to SS/Medicare taxes than someone who made 200k. Actually probably not since you're likely self employed but you get the point.

---

Most of the discussions on taxes here are on federal tax rates so that is why I asked for only that.

Having no deductions, I paid the full freight, but I am one of those who does not feel over-taxed.

I don't like paying taxes, but I don't want to leave the country worse off than it was when I made my living in it...so I am willing to pay my full freight.

14.9% federal income tax.

28%; 47k.

Fucking ridiculous.

Quote:

---

Originally Posted by vy65

28%; 47k.

Fucking ridiculous.

---

How is that even possible? What happened?

Quote:

---

Originally Posted by SnakeBoy

How is that even possible? What happened?

---

I agree. I think somebody needs a better tax preparer.

hit a 4 when it should have been a 3.

still fucking ridiculous

~33%

No dependents, no deductions besides mortgage. At least thats what it looks like its going to be. I can never file until October anyway.

EDITED: Stupid to put 0.2%

Quote:

---

Originally Posted by vy65

hit a 4 when it should have been a 3.

still fucking ridiculous

---

Is that 28% your income taxes plus your payroll taxes?

Quote:

---

Originally Posted by coyotes_geek

Is that 28% your income taxes plus your payroll taxes?

---

All tax paid (fed. income, medicare, ss). And it was closer to 24%.

Quote:

---

Originally Posted by SnakeBoy

What did you actually pay in federal income tax for 2010? And do you think your taxes were too high, too low, or just right.

---

Fruitless excercise since my complaints are about all taxes and fees going to any level of government. I don't have a problem with my income tax rate, but when you add in SS, Medicare, Gas, Excise, Sales, Property, etc, plus fees like vehicle registration, and those stupid telephone fees, then add in mandatory spending (auto insurance, soon to be health insurance, etc)...

Income: $34k
FICA Rate: 9.1% (a little low if nothing else is considered)
Total Tax Rate: ~25% (way too high IMO, though lower than it was 10 years ago)

Quote:

---

Originally Posted by vy65

All tax paid (fed. income, medicare, ss). And it was closer to 24%.

---

If I include state, SS, and medicare, it is over 30%.

People vote with their wallet on both ends of the spectrum.

I was at 17% on income tax.

SS & M are another 15.3%.

My propoerty taxes worked out to another 4% of my income.

Sales tax as a percentage of income is hard to figure. I'll estimate that 1/3 of my income gets spent on something I pay sales tax on. 8.25% / 3 = another 2.75% of my income.

Then there's still gas taxes, the myriad of taxes that get tacked on to your utility bills and who knows how many other taxes.

Add it all up and there's no doubt in my mind that at least 40% of my income is going to one tax or another.

Tax | Total Tax $ 10,944.00
Effective Tax Rate 9.77%

CnP from my turbotax filing

~14% effective FIT rate.

We got a tax credit for buying a BMW. :shootme