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Originally Posted by venus
what tax bracket are you in ?
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I'm in the 33% tax bracket and I'm married (wife stays at home). I didn't bother incorporating because I don't wanna have to deal with having a seperate account, then paying myself a wage from that, I just wanna spend my money on what I want to and throw it into this or that investment.
I do get to take all of my deductions which is good, but I do get screwed on paying the Social Security tax which is 15.3% of the first $94,200 of my earnings. My accountant mentioned that I should change over to something else, I can't recall what exactly it was, to get away from all those Social Security taxes, but I was actually a little worried about that because I think that it's good to have those extra dollars going into my Social Security to make it easier when I retire (that's IF there's gonna be SS when I retire, ha ha). I do have other retirement things going on like IRAs and savings, so I'm trying to think smart.