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Old 01-24-2012, 01:16 PM   #61
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Understood.

We were the same, both maxed out 401ks, plus employee health insurance payments were before tax, along with FSA contributions. I was confused when you called them tax defered income, thanks for the explanation
Yeah, these aren't "deferred compensation plans" that some high ups and execs get (I wish we had those!).

I forgot we also have all the following taken out pretax: dental and health insurance, dependent care FSA, and medical FSA or HSA. That's another $4000-5000 that disappears from our gross income. For some those amounts may add up to closer to $15000-20000.
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Old 01-25-2012, 08:31 AM   #62
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13.15% for 2010 per my return.
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Old 01-25-2012, 09:12 AM   #63
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Still w*king, both me and DW:

Fed: 13.5%
State: 5%
Income tax only.
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Old 01-25-2012, 10:12 AM   #64
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Single, no dependents, still working and getting zapped on taxes. According to TurboTax:

2009 Effective Tax Rate: 22.8%
2010 Effective Tax Rate: 21.6%
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Old 01-25-2012, 10:56 AM   #65
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Originally Posted by Midpack View Post
16.9% for 2010 FIT, DW & I both still working...

plus Soc Sec,
Medicare,
State Income Tax,
Property Tax,
State Personal Property Tax (cars),
BMV fees,
County Income Tax,
State Sales Tax,
Gas Tax

- what have I forgotten?
Liquor tax, helps dull the pain.
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Old 01-25-2012, 11:05 AM   #66
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...(snip)...
I pay 15% of AGI, almost to the penny. And I have relatively small SS, and no pension, though I am required to withdraw RMDs.

I wish I could see come of the returns where people describe paying almost no federal income tax. I need to learn some of that sht!
...
Easy to pay low taxes, just give away your wealth. Or do not have much to start with.

For 2010 our tax was 10.3% of AGI. Reduced partly due to itemized deductions. Still have a mortgage and health care. For 2011 it is around 14%.

For 2012 we will start taking Roth distributions to spend so that number will go down.

Political comment: Gaming the system by converting income to cap gains should be eliminated by Congress.
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Old 01-25-2012, 11:06 AM   #67
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Liquor tax, helps dull the pain.
well - if you count liquor tax that would take me up another 20% or so
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Old 01-25-2012, 01:07 PM   #68
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Liquor tax, helps dull the pain.
For some reason, I don't mind that. Wonder if I've been missing a deduction all these years?
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Old 01-25-2012, 01:09 PM   #69
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Just noticed this thread. FWIW, we were just over 13% for 2010 taxes. That includes what we paid in state income tax. For just the federal, it was over 11%.
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Old 01-25-2012, 01:37 PM   #70
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Retired, income from SS and TIRA withdrawals.

2010 effective federal tax rate was 8.34% of AGI. Big deductions for health insurance premiums was a major factor in keeping this percentage in single digits.
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Old 01-25-2012, 08:26 PM   #71
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Fed State
2009 9.8% 3.8%
2010 4.32% 4.3%
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Old 01-25-2012, 08:38 PM   #72
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The candidates are being asked this, how about us?

If you don't yet have enough of your 2011 data to know, use 2010.

I pay 15% of AGI, almost to the penny. And I have relatively small SS, and no pension, though I am required to withdraw RMDs.

I wish I could see come of the returns where people describe paying almost no federal income tax. I need to learn some of that sht!

Ha
0% last year. 0% this year. It is easier when you have lots of losses. Be careful what you wish to learn.
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Old 01-25-2012, 08:45 PM   #73
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For 2010
Fed - based on AGI = 27.72%
Based on taxable income = 31.32%
State = 9.6%

Almost all income is from wages. Couple filing jointly. No deductions aside from property tax and charitable contributions.
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Old 01-25-2012, 08:50 PM   #74
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Pretty much 25% every year....hey I pay a higher percentage than Romney!!!
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Old 01-26-2012, 10:09 AM   #75
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Romney pays more than I do! My experience is:

Fed Tax/AGI:
- 2009 = 9.6%
- 2010 =11.0%
- 2011 =10.8% (est)

I do itemize taxes, mortgage, & contributions which gets the rate down, otherwise use of the standard deduction would give me a rate of about 13.2%
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Old 01-26-2012, 08:09 PM   #76
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2010 - 11.0%
2009 - 10.8%

Kids, mort, prop taxes, donations, 401K, HSA, carryover losses.
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Old 01-27-2012, 10:24 AM   #77
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Don't have the numbers handy, but the effective rate of all income (not AGI) is around 18% for FIT.
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