A Status Taxes - Part 1: Difference between revisions

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Latest revision as of 02:08, 16 May 2026

One more week until Tax Entire day. Have you filed yours yet? I haven't (probably should aboard that, actually), and when I read in USA Today that roughly 47% of Americans won't even need to worry about paying federal income taxes, I start to wonder if I ought to even bother. Oh sure, there's the threat of prison time for tax evasion, but really, what's the point if half the damn country isn't going invest up and log off scot-free?

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But the risk doesn?t stop with mere financial penalization. Punishment may even add almost being added too jail and being made to pay fines to the federal government if evasion is blatantly twisted.

I was paid $78,064, which I am taxed on for Social Security and Healthcare. I put $6,645.72 (8.5% of salary) in the 401k, making my federal income taxable earnings $64,744.

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