I just started looking at doing my taxes and I just realized I am paying almost 33% (25% on federal income tax + 8% (SS + Medicare)). That was just shocking to me the since the first time I had to "really" do them.
Are you talking about on a paycheck basis or is that what you end up paying after doing your taxes and receiving a refund? If that is after you have completed your tax filing, then you need some deductions.
This is the first time I had to "really" do taxes I never knew that taxes were so much. I guess it is shock just like other stickers shocks you encounter in life.
Single Person Taxable income is The tax% is $0 $0 7,300 15% 29,700 25% 71,950 28% 150,150 33% 326,450 35%
Air Langhi....this is another reason why I am glad my taxes are complicated enough so that I have to pay someone else to do them. I just don't want to know, because if I did, I might get very very upset!