Tax Rates Reflect Well-Being: Difference between revisions

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Revision as of 01:44, 5 October 2024

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My personal finances would be $117,589 adjusted gross income, itemized deductions of $19,349 and exemptions of $14,600, making my total taxable income $83,640. My total tax is $13,269, I have credits of $3099 making my total tax for 2010 $10,170. My increase for your 10-year plan would go to $18,357. For that class warfare that the politicians like to use, I compare my finances towards the median statistics. The median earner pays taxes of simply.9% of their wages for the married example and step 6.3% for the single example. I pay 8.7% for my married income, that is 5.8% close to the median example. For that 10 year plan those number would change to five.2% for the married example, 11.4% for that single example, and twelve to fifteen.6% for me.

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The increased foreign earned income exclusion, increased income tax bracket income levels, and continuation of Bush era lower tax rates are excellent news for all your American expats. Tax rules for expats are complex. Get the specialist help you need to file your return correctly and minimize your U.S. tax.

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