#332928 - 13/05/201002:01Re: US Taxes - does anyone pay as little as 10% of personal income?
[Re: gbeer]
larry818
old hand
Registered: 01/10/2002
Posts: 1039
Loc: Fullerton, Calif.
Yeah, when you own a business, everything is deductible. I work out of the house now (thanks, recession) but even then, a part of the house is deductible, as is one of the cars, any tool I buy, etc...
When I was last "working for the man", the fed was 28% and the state 9%, then come the myriad of other taxes...
Even with the "self employment tax", it's a sweeter deal...