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Showing results 1 to 11 of 11
Search took 0.00 seconds. Search: Posts Made By: phaz0rz
Forum: General Money Chat 01-16-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

It was probably be acceptable in USA. The "proper" way to do things is to setup your company and draw a paycheck from it, which is pretty close to what sunspot was saying I think.. :noidea:
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Forum: General Money Chat 01-15-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

https://i.pinimg.com/736x/65/d0/5b/65d05b6ded3309d8153b5792f1ecb279--olympic-games-random-things.jpg
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Believe it or not, the USA owes most of the national debt to itself. It's very convoluted. We only owe about $5 trillion to other countries, with China only owning about $1.3 trillion of that debt....
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Here's taxes on $10k/£10k

https://i.postimg.cc/xTZTCvgJ/uk.png

__________________________________________________

https://i.postimg.cc/G37b7FW7/us.png

Still pretty close
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Well then, let's see. (thanks internet)

https://i.postimg.cc/RZq4xWBS/uk.png

_______________________________________________________________

https://i.postimg.cc/cL1MxN94/us.png


So...
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Ouch, that's pretty brutal. Just as discouraging there as it is here. I guess people with money worldwide have grown accustomed to being shaken down for 1/3 of their money every year.

I was...
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Most normies pay 10%. See the chart I posted earlier. :thumb:


And yeah yankee I haven't forgotten your advice. One of these days I'm gonna make all my income passive.
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Side note - you can get some killer deals on property tax auctions, but I kinda feel bad for the person who lost their property as I'm bidding on their stuff.
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Yes, unfortunately. And if you don't pay your annual property taxes, your local government will seize your house and auction it off to pay your outstanding taxes.

It succcckkkkks. I only paid...
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

Your LLC would still owe several thousand a year in property taxes on the house/yard though. We only own our things until we quit paying taxes on them.

:ranger:
Forum: General Money Chat 01-12-2019
Replies: 76
Views: 5,805
Posted By phaz0rz
Re: american tax system

It's staggered. These are the rates for single filers in 2019. Your first $10k in profits is taxed at 10% so you'd owe $1000 on that. Your next $28k would be taxed at 12%, and so on..
...
Showing results 1 to 11 of 11

 

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