|
12-26-2024, 12:59 PM
|
Sage
|
Join Date: Dec 2012
Location: Somewhere over the rainbow
Posts: 15,357
Thanks: 7,709
Thanked 6,330 Times in 3,280 Posts
|
|
Quote:
Originally Posted by biker1
Perhaps. Federal Income Tax rates are marginal tax rates. You would need a sizable taxable income to have 1/3 taken for taxes (Federal taxes) as the highest marginal tax rate is 37%. For example, a taxable income of $1M would have an effective Federal tax rate of about 30%.
|
I did that one year.
|