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To: Final Authority

Good ... since you know how much you pay; based on your gross income what % do you now pay in federal taxes?

You needn't give dollar figures, just % of the gross income rounded, say, to the nearest integer percentage point.


129 posted on 05/15/2005 8:55:42 AM PDT by pigdog
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To: pigdog

I pay a gross of 16% and a net of about 20%. Gross meaning before all sorts of business deductions and net including employers share of payroll tax and my self employment tax. We have a lot of personal and business deductions to account for the disparity. My wife and I are both at least partially self employed so the income tax becomes the best way to account for business costs. In NH, we have no business tax for our kind of business and we have no income tax. That is why, other than the weather, NH is the finest place on earth to live.


131 posted on 05/15/2005 9:09:07 AM PDT by Final Authority
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