El_Mero_Mero
All Star
In what area of the world do you live, and how much are taxes hurting your pockets?
6 figures brehs, how much are taxes hurting your pockets?
- Thread starter El_Mero_Mero
- Start date
Vandelay
Life is absurd. Lean into it.
I'm in Illinois. About 30% of my check goes to tax alone.
Income tax rates for individuals - Canada.ca
Information on income tax rates in Canada including federal rates and those rates specific to provinces and territories.
Federal income tax rates for 2024
Tax rateTaxable income threshold
15%on the portion of taxable income that is $55,867 or less, plus
20.5%on the portion of taxable income over $55,867 up to $111,733, plus
26%on the portion of taxable income over $111,733 up to $173,205, plus
29%on the portion of taxable income over $173,205 up to $246,752, plus
33%on the portion of taxable income over $246,752
Ontario
Ontario income tax rates for 2024
Tax rateTaxable income threshold
5.05%on the portion of taxable income that is $51,446 or less, plus
9.15%on the portion of taxable income over $51,446 up to $102,894, plus
11.16%on the portion of taxable income over $102,894 up to $150,000, plus
12.16%on the portion of taxable income over $150,000 up to $220,000, plus
13.16%on the portion of taxable income over $220,000
I paid $37k in taxes and that isn’t counting my taxes paid on my 1099 which was probably another $12k. Chicago is on bullshyt for sure.
Vandelay
Life is absurd. Lean into it.
My biweekly paycheck is just shy of $6k. I take home $3500. Granted I got 401k and other deductions, but tax alone is about $1800 everytime I get paid.
I'm in this weird tax range and income range, that i don't have the tax breaks poor and rich folks get. I just get taken to the cleaners...
detroitwalt
Superstar
Not at all. I work in Germany and as long as I don’t cross the $117k limit (I think that’s what it is) I don’t have to pay taxes and since I’m not a German citizen I don’t pay their taxes either.
El_Mero_Mero
All Star
Do you still have to pay taxes to the country that you are a citizen of?
cyndaquil
Lv 100 Bold natured
fukk these taxes 
Filing single with 0 allowances gang
Filing single with 0 allowances gang
DeuceZ
Li pitit gason
Not much, deductions as single, saving for retirement and HSA for med expenses.. still get a refund 
Aprogressivone
Developers are the new Rockstars
No. That's the benefit of being a US federal contractor overseas or working for a private company.
Uncle Sam doesn't make bombs big enough to hurt these pockets 
Seriously, you got to get way up there IMO to start feeling like taxes are hurting you.
And remember the higher tax rates only affect income at that level.
Seriously, you got to get way up there IMO to start feeling like taxes are hurting you.
Federal Income Tax Brackets for Tax Years 2024
Federal income tax brackets are adjusted every year for inflation. Here are the tax brackets for the 2024 tax year, which will be filed in 2025.
smartasset.com
And remember the higher tax rates only affect income at that level.
I pay taxes on my house and cars but I'm tax exempt for the kind of work I do. I could make a milly (I dont) and still not be taxed from income. I do not however have any 401k, FSA or anyone of those. I live in the DMV. My take home amount would be closer to someone making around 300k.
Aprogressivone
Developers are the new Rockstars
It's 126,500 for the 2024 tax season
