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Main Board Today's Top Viewed: OVER.. (Views: 57)
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I would say 1/3 only if you don't have a lot - sm - XXX Posted: Jul 26th, 2015 - 11:03 am In Reply to: Another IC question - re computing real pay
write offs, though do think a 1/3 is a bit excessive, 25% should suffice, unless you make a lot of money. Otherwise 10-15% should be plenty. Consistently I have only paid 10% of the my gross in taxes. I usually write off $3-4K every year, some years more than others, some less. I write off everything but the mortgage, don't want to deal with that nightmare if we ever sell so never did it. (also do not have a dedicated room which I believe is the requirement for home office). I also have extra taxes taken out of my husband's pay and my own outside part-time job, so I don't have to mess around (or worry about) with quarterly or monthly tax payments. I have it so I cover my taxes and get a small refund with Federal, though usually owe for state so they wash each other out. So different ways of achieving the same end.
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Complete Discussion Below: (  marks the location of current message within thread)
- Another IC question - re computing real pay (Views: 757, 2015-07-25, 2:31 pm)
- I would say 1/3 only if you don't have a lot - sm - XXX
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