Single or married? How many children? With or without mortgage deduction? Do you tithe and donate 10% income to charity? What state do you live in (state taxes are deductible at federal level).
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Single or married? How many children? With or without mortgage deduction? Do you tithe and donate 10% income to charity? What state do you live in (state taxes are deductible at federal level).
Thats without deductions. if your making 200,000 and paying 60,000 in taxes that would also be without deductions. And someone is smart enough to make that much money and pay that many taxes, they arent trying hard enough to find creative solutions to their problem. There are hundreds of ways to pay less tax. Start an LLC spend or invest your income, write it off as a business expense. They could buy apartments with morgages, charge rent, write off the morgages. Its not hard to make money when you have money in America you just cant let it sit