Quote:
Originally Posted by Scanner
What many here don't realize is when you make 210/year, you are going to be taxed to hell. . .so putting down an extra 20K/year is really nothing to sneeze at as he probably only brings home 100K/year after taxes.
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I think that estimate is off. That would amount to more than 50% paid in taxes. Federal income tax on 200K of taxable income is "only" $45K, and that is assuming he doesn't have substantial deductions. Add in state, FICA, and property, and I doubt you are close to $110K in taxes a year. Probably closer to $60-70K a year.