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[–] Poopandawater 4 points -4 points (+0|-4) ago 

Bullshit. Nobody is taxed almost 50%. You forget to include your child support payments in that?


[–] Obeastiality 0 points 4 points (+4|-0) ago  (edited ago)

Self employed fed tax rate is around 37% for single people. State depends on where he lives, but i'm assuming it's high. Not sure what he means by local... child support? Assuming he's a freelancer with very few deductions he's right on point with fed and state though.

Source; make 100k+, paid out nearly $40,000 to fed and state this year.

e: Oh and if you're having trouble believing this, h&r block has tax software you can play with. Just enter in some john doe stuff and type in $100,000 earnings into 1099-MISC or 1099-k. Watch in horror as the sidebar tells you what you owe.


[–] lanre 0 points 1 points (+1|-0) ago 

Is this a case of not being creative enough with expenses? It seems like you can expense all kinds of personal things as long as it has a tangental relationship to your business.


[–] 12482962? 0 points 0 points (+0|-0) ago 

That includes the bullshit that my state makes me pay.