Liar. You don't even know the tax code amounts.
ng Jointly
| |
| $0 to $24,800 | 10% of taxable income |
| $24,800 to $100,800 | $2,480 + 12% of the amount over $24,800 |
| $100,800 to $211,400 | $11,600 + 22% of the amount over $100,800 |
| $211,400 to $403,550 | $35,932 + 24% of the amount ver $211,400 |
| $403,550 to $512,450 | $82,048 + 32% of the amount over $403,550 |
| $512,450 to $768,700 | $116,896 + 35% of the amount over $512,450 |
| Over $768,700 | $206,583.50 + 37% of the amount over $768,700 |
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IF TAXABLE INCOME IS:
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THE TAX IS:
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Pretty screwed when you earn a lot of money. Or, what you think is a lot of money. In California, New York and other places, $130,000 isn't very much which the cost of everything.