I hate this state ... tonight at least. dont move here... please, do yourself favor! (Sacramento: insurance, mortgage)

[crockodile]

Damn, Moderator cut: Language no words, just emotions...

So I took a salary increase... I got my first check today. When I saw it, I though of driving up to Sacramento and smack Arnold, then drive to damn DC and smack that idiot in the white house. I know its not "because of them" or "other politicians are worse", etc... I'm just sooo angry at with this damn state and its taxes, ARGHHHH I want to scream!!!


Taxable Material Status: Single
Exemptions/Allowances: Federal 0; State 0
Gross pay: 10,538.46
Federal Income Tax: -2,455.73
Social Security Tax: -653.38
Medicare Tax: -152.81
CA State Income Tax: -791.93
CA SUI/SDI Tax: -63.23 <---- WTF is this!?!?
-------------------------------
Net Pay 6,421.38

I took 10k increase/year, before that I took home 64.80% of my salary now I'm taking home only 60.93% of the salary.

So much for pay increase... Moderator cut: Languagetaxes-state-city-government-where-is-bin-laden!

[kettlepot]

SUI is State Unemployment Insurance. SDI is State Disability Insurance.

If you want to cut your tax bill:

Participate in a 401K if it's offered or set up an IRA if it's not.
Contribute to a 125 medical plan if available.
Buy a house.

And frankly by claiming 0 exemptions you're setting yourself up for a rather large refund next April. Raise your exemptions and skip the interest free loan to the government. The W2 (or is it the W4) you fill out which determines how many exemptions to claim is just a guide, not the law. You can choose the number of exemptions, just make sure you're reasonably close to your actual amount of tax come April 15.

[skatealoneskatetogether]

its not like you wont get a tax return

[oneluvshorty05]

Does anyone know if we can include this tax into our state taxes when we file?

[sonarrat]

Originally Posted by oneluvshorty05

Does anyone know if we can include this tax into our state taxes when we file?

Yes, generally any tax can be deducted including the total amount of income tax you actually wound up paying in the previous year.

[deezine]

Exemptions/Allowances: Federal 0; State 0


Change your exemptions/allowances. The main thing here is that you want to break even. Not owe at the end of the year.

[AA702]

This was my problem living in the bay area. Made good money like the OP but got hit with taxes because I had no writeoffs, single and was in the upper income bracket. Moved to a State without state income tax, write off my mortgage and I'm a happy camper!

[DMenscha]

It's called a progressive rate income tax. When you move into a higher tax bracket, the rate of tax goes up. I'm guessing that's a monthly pay stub, indicating a gross of about 125K.

At that point in income you very seriously need to be talking to a tax professional for advice.

Good Luck

[Luke9686]

Create a small side business, create an LLC, write off car payments, meals, etc., etc., etc., and your taxable income will be much less. This is how the rich keep their money.

[Irate Iconoclast]

Here in Tax-a-fornya, the ROTTEN STATE GOV'T. subsidizes huge numbers of illegal aliens while PUNISHING Americans. The California Franchise Tax Board is a fascist, extortionist gang -- almost worse than the nauseating IRS! To make matters even harder for natives, super-rich people from other states and foreign countries bid up housing prices to outrageous levels, making it difficult for many of us to find even halfway decent, affordable places to live.