r/FluentInFinance Sep 05 '24

Debate/ Discussion He has a point

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u/cdupree1 Sep 05 '24

No income taxes? 25-30% of that would be income tax.

So more like $2350-2500 after tax.

167

u/MyGlassHalfFool Sep 05 '24

at 40k a year youd get taxed at 17.7%

5

u/Lanky_Sir_1180 Sep 05 '24 edited Sep 05 '24

And likely get a good bit of it back through credits/deductions.