Get yourself a better accountant!

Posted by Alan on June 14, 2004 at 08:39:57

In Reply to: Re: You're still incorrect about tax rates posted by pollster on June 13, 2004 at 17:12:00:

I got this tax rate data from the 2003 IRS tax workbook, and I verified it with my tax preparer. If those people earning $25,000 paid 1/3 of their income to the IRS, they got ripped off by their tax preparer, because that's a 33% tax rate! The highest tax rate for federal taxes is 35%, and the lowest is only 10%. After taking standard deductions, and with a wife and two children, the most federal income tax you will owe is about $333, and if you qualify for the unearned income tax credit, you'll get about $1400, and pay zero taxes. We're not talking about state income taxes. If you want to avoid those, get out of your high-tax state!