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0 pointsdpark4y ago0 comments

> You pay 35% taxes so that's like 150

These are weird numbers.

35% of 250k is not 100k. It’s 87.5. And you shouldn’t be paying 35% on 250k. 35% is the top tax rate you pay. Most of your dollars will not be taxed at that rate.

At 250k of income you should actually be paying about $70k in taxes.

But yeah, you’re not retiring in 5 years unless you’re retiring somewhere exceedingly cheap.

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jsiaajdsdaa4y ago

You are forgeting the 10% (aka $25,000) state tax in California which might be where this person is, which will bring them quite neatly to $95,000.

dparkOP4y ago

If you choose to work remotely to save money, you’re probably not going to stay in California.

jsiaajdsdaa4y ago

That is true, however only a handful of states have 0 income tax (making up for it instead with property tax), and most still have around 5-7%.

anm894y ago

That's only federal. You could pay more than 100k on this.

dparkOP4y ago

I know that pedantry is kind of a thing here, but people working remotely to save money aren’t generally living in a state like California.

Also for the sake of pedantry, you still won’t be paying 35% even with California taxes. Nor could you pay over 100k even in California, so far as I can tell, unless taxes go up or there’s other income at play.

anm894y ago

California isn't the only state with state income tax. Most states have it. The pedantry is on your end.

j / k navigate · click thread line to collapse

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jsiaajdsdaa4y ago

You are forgeting the 10% (aka $25,000) state tax in California which might be where this person is, which will bring them quite neatly to $95,000.

dparkOP4y ago

If you choose to work remotely to save money, you’re probably not going to stay in California.

jsiaajdsdaa4y ago

That is true, however only a handful of states have 0 income tax (making up for it instead with property tax), and most still have around 5-7%.

anm894y ago

That's only federal. You could pay more than 100k on this.

dparkOP4y ago

I know that pedantry is kind of a thing here, but people working remotely to save money aren’t generally living in a state like California.

anm894y ago

California isn't the only state with state income tax. Most states have it. The pedantry is on your end.

j / k navigate · click thread line to collapse