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Post your effective Tax Rate, if you dare.

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Posted

Havent done this year's yet but for 2012

S

0

Effective federal rate: 16.2%

I made about 25% more this year, though (but have 8 months of mortgage interest to claim now). We'll see

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Posted

Mines based mostly off being a sales manager at a large dealership.... Jan-nov.

Made 123k Gross....

27% tax rate.

Bet you are dividing the tax by taxable income...not gross income. Because if you are paying 27% of your gross pay in just Federal taxes, you are likely doing something wrong.

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Posted

Bet you are dividing the tax by taxable income...not gross income. Because if you are paying 27% of your gross pay in just Federal taxes, you are likely doing something wrong.

That was a turbo tax preview, and I do believe I entered something wrong somewhere along the way between a couple of 1099 forms I have and several hundred work related deductions...

(I keep track of everything from gas to cell phone bills that are work related).

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Posted

That was a turbo tax preview, and I do believe I entered something wrong somewhere along the way between a couple of 1099 forms I have and several hundred work related deductions...

(I keep track of everything from gas to cell phone bills that are work related).

I was not insulting you...hope it did not come across that way.

I would just review everything again because the rate seems excessively high.

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Posted

I was not insulting you...hope it did not come across that way.

I would just review everything again because the rate seems excessively high.

I didn't take it that way, I hadn't done my taxes yet when I saw this thread I definitely had a typo when I did it....

Effectively it will be around 17-18% this is as a single man, (engaged but not yet married as of 2012).

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Posted

I didn't take it that way, I hadn't done my taxes yet when I saw this thread I definitely had a typo when I did it....

Effectively it will be around 17-18% this is as a single man, (engaged but not yet married as of 2012).

Sounds about right.

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Posted

I notice a distinct lack of certain people posting their information to this thread. Again, expected

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Posted

Sorry, I was raised in a South where it wasn't polite conversation to talk publically about what you make.

I make more than some, less than others. I get deductions for charitable donations and use things like 401k's and HSA's. If you want to know more than that you can marry me or offer to do my taxes.

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Posted

and you can tell us about your binders full of women

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Posted

If you want to know more than that you can marry me or offer to do my taxes.

Done and done.

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Posted

Mine will probably change. Apparently I did a Tim Geithner on my 2011 return. I got a letter from the IRS saying I owe $1500. I probably made the same mistake this year...

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Posted

Looks like I will be around the 20% this year, years past it was more.

I wonder what that number looks like if you factor in every tax that we pay?

That's the big question.

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