Your 2010 Tax rate

[mebison]

That time of the year for W2s to come out. What percentage of your income was withheld in (a) Federal tax, (b) SS tax, (c) Medicare tax, and (d) State income tax?

For me (number are identical for my wife):
(a-c) 16.8%
(d) 4.8%

For a total of 21.6%. Last year, my federal withholding was about right, but I got a bit of a refund in state dollars. This year, I'm guessing its about right, but hoping its wrong and I get a surprise refund.

[Wedgebuster]

Zip, as usual.

[SuperHornet]

Income? What's that?

[BDKJMU]

I include my fed income, payroll taxes, state income, gas taxes, sales taxes, utility taxes, tolls, property taxes, local taxes, etc and add it all up to come up with my total tax rate.

[mebison]

I include my fed income, payroll taxes, state income, gas taxes, sales taxes, utility taxes, tolls, property taxes, local taxes, etc and add it all up to come up with my total tax rate.

That may be too depressing for me to take...

[HI54UNI]

Are you taking the percentages of your gross wage, your taxable income wage, or your taxable social security wage?

Although it doesn't really matter, they are all too much.

[danefan]

Less than what is needed and yet way more than what the idiots in congress know how to handle.

[93henfan]

That time of the year for W2s to come out. What percentage of your income was withheld in (a) Federal tax, (b) SS tax, (c) Medicare tax, and (d) State income tax?

For me (number are identical for my wife):
(a-c) 16.8%
(d) 4.8%

For a total of 21.6%. Last year, my federal withholding was about right, but I got a bit of a refund in state dollars. This year, I'm guessing its about right, but hoping its wrong and I get a surprise refund.

(a-c) 18.7%
(d) 4.8%

That being said, once I deduct mortgage interest and take my child credits, my real rate for federal drops to under 10%.

[mebison]

Are you taking the percentages of your gross wage, your taxable income wage, or your taxable social security wage?

Although it doesn't really matter, they are all too much.

I think I calculated mine off of taxable income wage. Whatever way makes you feel better (or worse, if that's what you prefer).

[mebison]

That time of the year for W2s to come out. What percentage of your income was withheld in (a) Federal tax, (b) SS tax, (c) Medicare tax, and (d) State income tax?

For me (number are identical for my wife):
(a-c) 16.8%
(d) 4.8%

For a total of 21.6%. Last year, my federal withholding was about right, but I got a bit of a refund in state dollars. This year, I'm guessing its about right, but hoping its wrong and I get a surprise refund.

(a-c) 18.7%
(d) 4.8%

That being said, once I deduct mortgage interest and take my child credits, my real rate for federal drops to under 10%.

Yeah, looking at things some more last night, I think by the time I get mortage interest and charitable contributions out of there, my real rate will drop a bit as well.

[grizzaholic]

Income? What's that?

Did UNH hack SH's account?

[travelinman67]

I include my fed income, payroll taxes, state income, gas taxes, sales taxes, utility taxes, tolls, property taxes, local taxes, etc and add it all up to come up with my total tax rate.

Throw capital gains, interest, etc...and the percentage is STAGGERING!!


Well above 50%, yet the Dems are demanding MORE...

[D1B]

I include my fed income, payroll taxes, state income, gas taxes, sales taxes, utility taxes, tolls, property taxes, local taxes, etc and add it all up to come up with my total tax rate.

Throw capital gains, interest, etc...and the percentage is STAGGERING!!


Well above 50%, yet the Dems are demanding MORE...

What does it cost to keep your fat ass in business? The police and military to protect your property, the schools for your god damn kids, infrastructure so you can easily get to suckers and fleece them...

You should pay more.

[travelinman67]

Throw capital gains, interest, etc...and the percentage is STAGGERING!!


Well above 50%, yet the Dems are demanding MORE...

What does it cost to keep your fat ass in business? The police and military to protect your property, the schools for your god damn kids, infrastructure so you can easily get to suckers and fleece them...

You should pay more.

You left out entitlements to support the Democrat voting bloc...i.e. Dem job security...

[GrizFanStuckInUtah]

[GrizFanStuckInUtah]

I don't know what mine is yet. Still waiting on stuff from my wife's work. I know I can't file it yet anyways since our wonderful IRS is behind on updating their computers thanks to our elected slackers not getting their budget shit done in a timely manner.

[Ibanez]

We have not received mour forms yet. You would think, with techonology and online payroll systems, that this would be easy for a company that employ's +45,000 people worldwide.

[griz37]

I got to keep 67.5 percent of what I grossed, but that includes health insurance & 401k deductions.

[Ibanez]

We have not received mour forms yet. You would think, with techonology and online payroll systems, that this would be easy for a company that employ's +45,000 people worldwide.

Just finished the taxes. Our rate was 11%.

[biobengal]

That being said, once I deduct mortgage interest and take my child credits, my real rate for federal drops to under 10%.

The tea party needs to get on this one... encouraging home ownership and breeding is an irresponsible use of potential tax dollars.

[GannonFan]

That being said, once I deduct mortgage interest and take my child credits, my real rate for federal drops to under 10%.

The tea party needs to get on this one... encouraging home ownership and breeding is an irresponsible use of potential tax dollars.

I'm still waiting to see how zero or negative population growth will be a good thing economically speaking. Plenty of examples out there of how it's not. As for home ownership, I think plenty of tea partiers have come out against excessively promoting that - they're not anti-Fannie and Freddy just for the fun of it.

[93henfan]

I just got done preparing my 2010 returns on TurboTax.

My effective tax rates -

2010 Federal: 6.24% (up from 5.11% in 2009)
2010 Delaware: 4.20% (up from 3.14% in 2009)
2010 total: 10.44% (up from 8.25% in 2009)

Itemized deductions included state income taxes, real estate taxes, mortgage interest, mortgage insurance, and 2% of AGI. Credits included child tax credit for two kids, child care credit (wife started working again last year, so cost of preschool counts now), and making work pay credit.

I honestly have no complaints. I feel 10% is a fair contribution for the services I get back from country and state in relation to my own standard of living. God bless America.

[Ibanez]

I would have no problem paying more taxes AS LONG AS I SEE RESULTS IN THE DEFICT BEING REDUCED, INCREASED EDUCATION AND A MORE COMMON SENSE APPROACH TO THIS BUDGET AND ECONOMY.




I know, it's a pipe dream.

[BDKJMU]

I just got done preparing my 2010 returns on TurboTax.

My effective tax rates -

2010 Federal: 6.24% (up from 5.11% in 2009)
2010 Delaware: 4.20% (up from 3.14% in 2009)
2010 total: 10.44% (up from 8.25% in 2009)

Itemized deductions included state income taxes, real estate taxes, mortgage interest, mortgage insurance, and 2% of AGI. Credits included child tax credit for two kids, child care credit (wife started working again last year, so cost of preschool counts now), and making work pay credit.

I honestly have no complaints. I feel 10% is a fair contribution for the services I get back from country and state in relation to my own standard of living. God bless America.

Totally agree if that was the case. But your leaving off:
-12.4% combined in FICA taxes that you & your employer pay.
-2.9% combined in medicare taxes that you & your employer pay.
-property taxes,
-sales taxes (ok, none in DE)
-gas taxes (national avg state and fed is about 50 cents a gallon)
-tolls
-utility taxes
etc, etc. Lots of other hidden taxes. Heck, most items you buy at the store, even excluding sales tax, about 1/4-1/3 goes towards taxes.

You're paying A LOT more than 10%...

[93henfan]

I just got done preparing my 2010 returns on TurboTax.

My effective tax rates -

2010 Federal: 6.24% (up from 5.11% in 2009)
2010 Delaware: 4.20% (up from 3.14% in 2009)
2010 total: 10.44% (up from 8.25% in 2009)

Itemized deductions included state income taxes, real estate taxes, mortgage interest, mortgage insurance, and 2% of AGI. Credits included child tax credit for two kids, child care credit (wife started working again last year, so cost of preschool counts now), and making work pay credit.

I honestly have no complaints. I feel 10% is a fair contribution for the services I get back from country and state in relation to my own standard of living. God bless America.

Totally agree if that was the case. But your leaving off:
-12.4% combined in FICA taxes that you & your employer pay.
-2.9% combined in medicare taxes that you & your employer pay.
-property taxes,
-sales taxes (ok, none in DE)
-gas taxes (national avg state and fed is about 50 cents a gallon)
-tolls
-utility taxes
etc, etc. Lots of other hidden taxes. Heck, most items you buy at the store, even excluding sales tax, about 1/4-1/3 goes towards taxes.

You're paying A LOT more than 10%...

Righto. I was sticking to the question originally posed, which was tax rate based on W-2s and tax filings.

FICA and medicare were already figured in to the amounts I listed. My property taxes were $1,268.95, sales taxes less than $150 for lunches in MD, DC, and VA, gas taxes (@18.4 cents/gal federal and 23 cents/gal Delaware) about $400 (based on ~1,000 gallons used which is pretty close), tolls of about $500, and utility taxes of around $600.

All of those add about another 3%. I'm still not complaining.