More taxes coming? You betcha...

Read my posts again. I never said I moved because it was cheaper.
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I know what you said...

"it was the best move I ever made, especially financially speaking"

To me that sounds like you're saying one of the reasons you like Texas is because it's cheaper. Fair enough. But are you honestly saying that if the cost of living was the same in both places you'd choose DFW over SoCal?

You must not make friends easily. If you did, you would have seen a different side of Texas than you were exposed to.
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My main gripes with the DFW area aren't the people, although they are a little too religious and conservative for my liking. I had and still have plenty of friends in the DFW area. The things I hate the most are that there's nothing to do, the weather sucks about 8 months out of the year, it's flat, ugly and geographically boring, downtown Dallas pretty much sucks compared to other major cities, the nightlife does not compare to other major cities, etc. Like I said I could on and on.

Your economy is shit.
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I could care less about California's economy. It doesn't affect me or my family one bit. So I pay a little more in state income taxes, big whoops. Property taxes in most areas of DFW are more than double what they are in San Diego, so I was paying almost as much in property taxes in DFW as I do in CA state income taxes anyway. When you factor in significantly lower water and energy bills, even with CA's income tax I bet it's not costing me any more to live here.

Oh yeah, and take the median household income numbers for the country, multiply that by 4 and you get some sort of an idea how much I'm claiming to the IRS I made last year.
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I hope you're big time cheating on your taxes. If not that's not saying much ...
 


dsiomtw said:
My main gripes with the DFW area aren't the people, although they are a little too religious and conservative for my liking.
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I'll give you that, I'm not much a fan of extremes at either end of the spectrum.

dsiomtw said:
...downtown Dallas pretty much sucks compared to other major cities, the nightlife does not compare to other major cities, etc. Like I said I could on and on.
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It's still no San Francisco, Chicago, or New York but it's coming up. The Arts District is booming one large downtown park just opened and they are building another that should make Chicago's Millennium park envious, like you, I could go on and on. If you're ever in Dallas again PM me, I'll buy you a beer and show you all the cool shit that's gone down.
</removes Dallas board of tourism hat>
 
dsiomtw said:
I know what you said...

"it was the best move I ever made, especially financially speaking"

To me that sounds like you're saying one of the reasons you like Texas is because it's cheaper. Fair enough. But are you honestly saying that if the cost of living was the same in both places you'd choose DFW over SoCal?
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You're missing the point. I'm benefiting from the opposite side of the coin here. I've been fortunate to make the kinds of connections and arrangements that lend themselves to a higher probability of success.

You seem to be overly consumed with viewing the issue from the negative angle of financial desperation which actually signals undertones of your own personal financial problems.
 
You seem to be overly consumed with viewing the issue from the negative angle of financial desperation which actually signals undertones of your own personal financial problems.
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LOL! You're right. I moved from DFW to San Diego because I have financial problems, and houses are so cheap in Texas because it's the best place to live and there is just so much demand for the housing there. Ya'll keep on ballin' in Texas. When they start drilling in your neighborhood though, just don't spend the couple hundred a month you might get all in one place!
 
I wonder how many people in this thread know what the tax rates were in the 70's in America. It's quite funny that most people in there 20's think taxes have only ever been going up in the US...
 
miketpowell said:
I wonder how many people in this thread know what the tax rates were in the 70's in America. It's quite funny that most people in there 20's think taxes have only ever been going up in the US...
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ok then, how high were they?
 
Lower your living expense -- live in a van, RV, or class B motorhome.

Stop buying so much shit.

I'm hypocritical because I just bought a $120 mouse the other day, but I'm going to return it. VX Revolution mouse is too gimmicky.
 
BluAffiliate said:
High tax bracket (~avg 35% income tax) + 15% self employment tax + 10% CA state tax + 12.50% Los Angeles sales tax = 62 mothafuckin percent is what I'm paying. I'm reading Atlas Shrugged, and if anyone's read that book so many things are similar with it it's making my head spin.
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Ok, I'll bite, and do some quick calculations.

If you're in the 35% tax bracket, let's figure you're pulling in $400,000 a year, and are single. Tax Brackets (Federal Income Tax Rates) 2000 through 2009 and 2010 calculates your total federal taxes around $117,500, which is just under 29.5% due to the way the bracketing system works.

Self employment tax (from Self-Employed Tax Calculator ) comes to $23,361, or just under 6%.

From 2009 Tax Calculator , a single person reporting $400,000 pays $35,930 income tax to CA, or 9%.

That's ~$177,000 tax paid on $400,000 income. 44%. Obscene, but not quite 62%. Even if you're including sales tax and property tax, it's hard to get to 62%. A 3.5 Million dollar home in Beverly Hills looks like it'll have $25,000 of property taxes. There's another $46,000 of taxes needing to be charged to bring your taxes to 62%. That means you'd have to spend $368,000 on sales-taxable items, on an income of $400,000 to get to 62%.

Now, if you have another calculation showing you pay 62% tax, I'd love to see it.

And you probably need a better accountant.
 
amanda11 said:
Lower your living expense -- live in a van, RV, or class B motorhome.

Stop buying so much shit.

I'm hypocritical because I just bought a $120 mouse the other day, but I'm going to return it. VX Revolution mouse is too gimmicky.
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Bad advice. Best advice would be to move tax brackets. Move from the left side of the cashflow quadrant to the right side. More tax breaks.
 
Fucking idiots in this thread.

FIRST of all, it's METALS, not medals, you fucking home-schooled retards. Medals are what you win in the Olympics, and metals are the shiny things.

Second, the most extreme analysts think gold will go to $1500, not $15000. LOL! Good luck with your investing. Maybe you should contact Charles Schwab or something before you lose everything... seriously. Learn before you open your idiot mouths.
 
johu said:
Ok, I'll bite, and do some quick calculations.

If you're in the 35% tax bracket, let's figure you're pulling in $400,000 a year, and are single. Tax Brackets (Federal Income Tax Rates) 2000 through 2009 and 2010 calculates your total federal taxes around $117,500, which is just under 29.5% due to the way the bracketing system works.

Self employment tax (from Self-Employed Tax Calculator ) comes to $23,361, or just under 6%.

From 2009 Tax Calculator , a single person reporting $400,000 pays $35,930 income tax to CA, or 9%.

That's ~$177,000 tax paid on $400,000 income. 44%. Obscene, but not quite 62%. Even if you're including sales tax and property tax, it's hard to get to 62%. A 3.5 Million dollar home in Beverly Hills looks like it'll have $25,000 of property taxes. There's another $46,000 of taxes needing to be charged to bring your taxes to 62%. That means you'd have to spend $368,000 on sales-taxable items, on an income of $400,000 to get to 62%.

Now, if you have another calculation showing you pay 62% tax, I'd love to see it.

And you probably need a better accountant.
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Add 12.5% sales tax and you're there.

Salex tax indicates he's doing more than just commission-income affiliate marketing. I feel with him because I'm in the very same position, and have to let perfectly healthy revenue generators drop because they become unprofitable due to sales taxes and related fees (customs duties on top, etc.). 62% is very possible.
 
Thread has been semi hijacked for the sake of winning an argument. To get back to the OPs point;

WHAT THE HELL SHOULD WE DO? Seriously, everyone says FML, but what legitimate actions can be done to mitigate or reduce taxes, and for you revolutionists, to GTFO before an Armageddon.

Maybe it cant be done. I'm not an expert in this field, something tells me not many here are on this issue, but for those few who actually know their shit, what do you recommend (preferably an option other than finding a rafter, tight rope, and wobbly chair.)
 
Best advice would be to move tax brackets. Move from the left side of the cashflow quadrant to the right side. More tax breaks.
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That only works when you're making a little money. Imagine you were making $1 mil a year profit doing affiliate marketing. If you want to actually pull that money out of your business and put it in your pocket, there's very little you can do to significantly reduce your taxes that is legit and will allow you to sleep well at night.
 
dsiomtw said:
That only works when you're making a little money. Imagine you were making $1 mil a year profit doing affiliate marketing. There's very little you can do to significantly reduce your taxes that is legit and will allow you to sleep well at night.
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If you're making $1 mil a year profit and NOT sleeping well at night you're a retard. Seriously, get bjs and chill the fuck out about taxes.
 
Perspective. Work a real job and decide for yourself if sitting on our asses playing with computers and making money from it is busting your ass. No, it's not. Trust me.

And yes, I would not give 1 fuck if 80% if my money was taken, that's the price for living here. Shut up or GTFO. If I cared, I would GTFO like a man instead of crying about it and wishing that dreams were unicorns.
 
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