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      04-05-2018, 06:38 PM   #23
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Originally Posted by Flying Ace View Post
for SF...lol, ok.

But 29% effective is high. What's the fed and state breakdown?
FED 20% AGI
State 9% AGI
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      04-05-2018, 06:42 PM   #24
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I somehow kicked ass on my taxes this year and get a refund for the 1st time in a few years, so Im probably getting audited and fined.

Ended up with an effective tax rate of ~18% for federal and state combined.

I did have quite a bit of medical expenses to deduct though.
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      04-05-2018, 07:32 PM   #25
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      04-05-2018, 07:40 PM   #26
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Quote:
Originally Posted by SFCM3 View Post
Quote:
Originally Posted by Flying Ace View Post
for SF...lol, ok.

But 29% effective is high. What's the fed and state breakdown?
FED 20% AGI
State 9% AGI
What is considered poverty level for SF?
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      04-05-2018, 07:50 PM   #27
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What is considered poverty level for SF?
under $130k.
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      04-05-2018, 07:58 PM   #28
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Quote:
Originally Posted by RickFLM4 View Post
What is considered poverty level for SF?
under $130k.
Presumably you are single to get to those rates on $130K. $130K is poverty for single or a family? I know it's expensive there but seriously I'd move if $130K is poverty level and the state takes 9% from those in poverty.
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      04-05-2018, 08:00 PM   #29
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Originally Posted by TheWatchGuy View Post
I somehow kicked ass on my taxes this year and get a refund for the 1st time in a few years, so Im probably getting audited and fined.

Ended up with an effective tax rate of ~18% for federal and state combined.

I did have quite a bit of medical expenses to deduct though.
Psychotropic? Asking for a friend.
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      04-05-2018, 08:01 PM   #30
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Quote:
Originally Posted by RickFLM4 View Post
Presumably you are single to get to those rates on $130K. $130K is poverty for single or a family? I know it's expensive there but seriously I'd move if $130K is poverty level and the state takes 9% from those in poverty.
im married, that is household stats, and i make half of poverty income....



$130k is not the official poverty level, but a new statistic shows that households need to make over $130k in SF to live comfortably. i disagree, i say you need to make closer to $200k in SF to be comfy.
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      04-05-2018, 08:08 PM   #31
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Not sure about your situation, but even at $130K (much less 1/2) seems like it would be difficult to get to 20% effective rate for married filing jointly for federal. Personally, I'd move.
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      04-05-2018, 08:38 PM   #32
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      04-05-2018, 09:27 PM   #33
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Quote:
Originally Posted by SFCM3 View Post
im married, that is household stats, and i make half of poverty income....



$130k is not the official poverty level, but a new statistic shows that households need to make over $130k in SF to live comfortably. i disagree, i say you need to make closer to $200k in SF to be comfy.
130k lmao, I made about 40k more than that when I worked there and had to live next to shithole oakland and was barely middle class

Now I live in Texas the tax burden is a lot more reasonable (let's see how long until the 100s of thousands of Californian refugees moving to Texas can ruin our low cost of living, I give it until 2024)
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      04-05-2018, 10:04 PM   #34
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Quote:
Originally Posted by RickFLM4 View Post
What is considered poverty level for SF?
$105k for a household of 4 qualifies for Section 8 housing
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      04-06-2018, 09:17 AM   #35
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Quote:
Originally Posted by RickFLM4 View Post
How much are property taxes and homeowners insurance there? I'm paying about $6K in property taxes / year (because we've been in our home since 2002 and annual increases are capped) and homeowners insurance just renewed for $4K, which pissed me off because it was $3K last year.

We also have a sales taxes, although far less than 13%, property taxes, mobile phone taxes, etc. (not to mention $1,400/mo. for high deductible health insurance). It would be interesting to do an apples-to-apples comparison across countries because simply comparing income tax rates isn't necessarily comparable.
We pay $8K year on a place worth maybe 1.6 million. Insurance is $1K year. No direct health costs of course.

I don't ,ind paying more tax than you guys because i am a firm believer in universal healthcare but jesus fucking christ it's a joke up here. Remember i compare to Australia, not the US and even compared to there (similar health coverage in OZ) the taxes here are fucking outrageous.
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      04-06-2018, 09:49 AM   #36
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Psychotropic? Asking for a friend.
lol i wish you could deduct that...

my wife was hurt on vacation and needed emergency surgery and a couple weeks in the hospital
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      04-06-2018, 10:05 AM   #37
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lol i wish you could deduct that...

my wife was hurt on vacation and needed emergency surgery and a couple weeks in the hospital
Ha ha (I mean, sorry about the wife), but what I was really trying to joke about was whether we needed to be on the lookout for you being the next rampaging gun owner who got that way being on psychotropic drugs...

That sucks about getting hurt on vacation - where were you guys? Was the hospital facilities decent (I'm envisioning you being in Caribbean)?
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he's Canadian. By international law we all must worship him and all other products of the country.
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      04-06-2018, 10:10 AM   #38
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Quote:
Originally Posted by Alfisti View Post
We pay $8K year on a place worth maybe 1.6 million. Insurance is $1K year. No direct health costs of course.

I don't ,ind paying more tax than you guys because i am a firm believer in universal healthcare but jesus fucking christ it's a joke up here. Remember i compare to Australia, not the US and even compared to there (similar health coverage in OZ) the taxes here are fucking outrageous.
You also pay payroll-type tax on top of income tax?
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      04-06-2018, 10:12 AM   #39
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Quote:
Originally Posted by RABAUKE View Post
Yup, then add the 13% HST on every single purchase, user fee's, revenue tools and hidden taxes plus property tax and you're paying over 50%.
If I had to pay 50% in taxes I would quit working and just live off everyone else's 50%. Unless I was in the top 1%.
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      04-06-2018, 10:26 AM   #40
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Ha ha (I mean, sorry about the wife), but what I was really trying to joke about was whether we needed to be on the lookout for you being the next rampaging gun owner who got that way being on psychotropic drugs...

That sucks about getting hurt on vacation - where were you guys? Was the hospital facilities decent (I'm envisioning you being in Caribbean)?
we were in san fran. Motorized Scooter accident.

nope, the hospital there pretty much sucked compared to what we have in Colorado.
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      04-06-2018, 11:53 AM   #41
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And yet, you still have healthcare, retirement and a 993.
Yup, both my wife and I have worked hard and done well......we'd have a lot more if not for the ridiculous taxes though.
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      04-06-2018, 11:57 AM   #42
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Personal taxes here in Canada sucks ass.

In BC, if you are making over $200k/year or more (about $153k usd), your marginal tax rate is a BRUTAL 50%.

Don't forget to add the following:
- the crazy cost of real estate
- the much lower wages (compared to the rest of Canada and even the States)
- 12% sales tax on consumer goods

And to bring in car related info, Chek out our new taxes for both new and used/Private car sales:

- 15% sales tax on cars over $57k (~$43k usd)
- 20% sales tax on cars over $125k (~$96k usd) - new tax bracket just introduced this month
- 25% sales tax on cars over $150k (~115k usd) - new tax bracket just introduced this month
(these new taxes on cars are not marginal either. Straight across the board)

Oh, don't forget our $1.54 per L for regular fuel (closer to $1.74 for premium 91 octane). Which is set to increase over the summer. That's a whopping $4.48 usd per gallon for regular and $5.07/gallon for 91 octane

Sorry I went off tangent.but there is so many taxes built into our rule cost that I felt it was reagent to the "taxes" topic

There is probably more I can bitch about but I'm too tired to continue...

I wonder why I live here....
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      04-06-2018, 11:57 AM   #43
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Quote:
Originally Posted by RickFLM4 View Post
How much are property taxes and homeowners insurance there? I'm paying about $6K in property taxes / year (because we've been in our home since 2002 and annual increases are capped) and homeowners insurance just renewed for $4K, which pissed me off because it was $3K last year.

We also have a sales taxes, although far less than 13%, property taxes, mobile phone taxes, etc. (not to mention $1,400/mo. for high deductible health insurance). It would be interesting to do an apples-to-apples comparison across countries because simply comparing income tax rates isn't necessarily comparable.
My property taxes are about $5K, insurance is $235/month but thats for the property and the two cars. Its hard to put a number on our health care as it comes from the Provinces General revenue fund which is where most of the tax money collected goes. A few years ago our previous Premier, lets call him Pinocchio promised no tax increases and then immediately installed an $80/month "health care supplement" on everyone. Health care is the most expensive ministry in Ontario.
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      04-06-2018, 12:46 PM   #44
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Originally Posted by RABAUKE View Post
My property taxes are about $5K, insurance is $235/month but thats for the property and the two cars. Its hard to put a number on our health care as it comes from the Provinces General revenue fund which is where most of the tax money collected goes. A few years ago our previous Premier, lets call him Pinocchio promised no tax increases and then immediately installed an $80/month "health care supplement" on everyone. Health care is the most expensive ministry in Ontario.
The costs will surely come down now OHIP covers drugs for everyone under the age of 25, and when the economic genius Wynne wins again I'm sure there will be all kinds of savings passed onto the average Ontarian
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