Welcome to the Sexy and Funny Forums forums.

You are currently viewing our forums as a guest which gives you very limited access to what we have to offer. By joining our community you will have access to post replies/topics, communicate privately with other members (PM), respond to polls, remove some of the ads and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Bored? Go watch girls get naked on cam for free!

Go Back   Sexy and Funny Forums > Special Interest > Q&A Forum
User Name
Password

Latest from S&F
Random S&F
  
Reply
 
Thread Tools Display Modes 0 Attachment(s)
Old 09-29-2017, 03:52 PM   #1
oppenoppen
My mind is full of miscellaneous stuff.
 
oppenoppen's Avatar
 
Join Date: Jun 2010
Location: Michigan
Posts: 4,859
Casino Cash: $65468
My Mood:
Rep Power: 10
Avg Rep Per Post: 65.96
oppenoppen has a reputation beyond repute (320482 total rep)x49
oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)oppenoppen has a reputation beyond repute (320482 total rep)
+3
Question Unanswered: Tax brackets

Doses anyone know yet the income range for the three new tax brackets?
oppenoppen is offline  
Reply With Quote
Old 09-29-2017, 05:16 PM   #2
horrid1999
Forum Whore
 
horrid1999's Avatar
 
Join Date: Jul 2007
Location: Colorado
Posts: 219
Casino Cash: $293
My Mood:
Rep Power: 10
Avg Rep Per Post: 12.35
horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)horrid1999 has a reputation beyond repute (2705 total rep)
+3
Default No announcement, but..

Here's the latest I could find, but it hasn't been announced:

http://www.businessinsider.com/tax-b...n-chart-2017-9

It seems the new single filing 12% tax rate bracket may consist of $0 – $37,950 (which is going up for some from 10%. Why wouldn't you take the lower rate like the other brackets? Oh right...)

The middle bracket may be income ranges of $37,951 – $416,700, which drops wealthy families down 8%, but keeps average families the same rate.

The top bracket may end up being for $416,701 and up, dropping the top tier down almost 5%. I'm sure this was just a happy coincidence...

Of course, this may all be somewhat offset with higher deductions. Who knows? I'm just learning about it because I was curious what the answer to your question was..
__________________


“Marriage is like a coffin and each kid is another nail.”
-Homer Simpson
horrid1999 is offline  
Reply With Quote
Old 09-30-2017, 04:33 AM   #3
lardog118
I have reached the point of no return
 
Join Date: May 2015
Posts: 310
Casino Cash: $1201
Rep Power: 7
Avg Rep Per Post: 14.23
lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)lardog118 has a reputation beyond repute (4412 total rep)
Default

More money then I have
lardog118 is offline  
Reply With Quote
Old 10-05-2017, 03:43 AM   #4
brandishwar
Certified S&F Addict
 
Join Date: Apr 2012
Location: Kansas City area
Posts: 552
Casino Cash: $2454
Rep Power: 10
Avg Rep Per Post: 18.35
brandishwar has a reputation beyond repute (10130 total rep)
brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)brandishwar has a reputation beyond repute (10130 total rep)
Default

Quote:
Originally Posted by horrid1999
It seems the new single filing 12% tax rate bracket may consist of $0 – $37,950 (which is going up for some from 10%. Why wouldn't you take the lower rate like the other brackets? Oh right...)

One of the complications of the tax code is the tiered calculations. You're basically taxed at multiple rates. Let's take a single person making $50,000, going on BI's numbers and presumed income brackets for the new system. This would be the tax breakdown:

Deduction: 10400 (standard plus exemption)
9325 * 10% = 932.50
28625 * 15% = 4293.75
1650 * 25% = 412.5
Total tax: 5638.75 - effective rate: ~11.2%

Under the new proposal, if BI's breakdown is accurate:
Deduction = 12000
37950 * 12% = 4554
50 * 25% = 49.75
Total tax: 4603.75 - effective rate: ~9.2%, ~18% reduction in tax liability

Current median household income in the US is about $54,000, and if that's a married couple earning that, the breakdown would be a bit more interesting. Under the new plan, that household would be subject to just 1 tax rate: 12% on all income over $24,000, or about 3120, for an effective rate of about 5.7%.

Under the current tiered system:

Deduction: 20800
18650 * 10% = 1865
14550 * 15% = 2182.5
Total tax: 4047.5 - Effective rate: ~7.5%, 23% reduction in tax liability

Even a single earner making minimum wage working full time (~15,000) would also see a reduction in tax liability. Under the new plan, they'd pay about $360 for the year, about 2.4%. Under the current system, it'd be $460, about 3%. If they qualified for the EITC, they'd get back everything they paid and then some, having a negative effective income tax rate.
brandishwar is offline  
Reply With Quote
Reply
Tags: ,



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 

Users Who Have Viewed This Thread In The Last 7 Days: 2
VeroTrole

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump



All times are GMT. The time now is 02:44 AM.

Powered by vBulletin
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.