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| *Ostroff, Fair and Company>>>Marketing & Sales |
How much money do Federal Taxes take away? |
How much money do Federal Taxes take away? if i make 100,000 thousand a year? Can't say. Depends upon MANY variables. Marital status, age, # of dependents, deductions, credits, the source of the income, etc. About 25-30%. Between Income, Social Security, and Medicare... about 35,000.00. Minus deductions. If you are self employed, it will be even more, as you have to pay twice the tax. Tax tables at www.irs.gov It depends on the state u are in. Because here in MD its 5% on the dollar. State tax varies from 1/2/ % to 51/2/% Federal Tax is 16% |
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