What would you like to do?
How much does Arod have to pay in taxes each year?
he pays 40% to the state of new york, and another 10% to his agent. the 22 million dollars he makes quickly turns into 11.
2 people found this useful
Was this answer useful?
Thanks for the feedback!
There is no simple answer to that. Every farmer would be differentas their income would be different. It will also depend on thelocal rates of taxation and other regulations w…here they live.
You may give 12,500 a year (this year) to ANYONE (Up to a Million Dollars total), you will have had to pay any taxes as income, NOT DEDUCTIBLE for you and REPORTABLE but NOT T…AXABLE for them!
It's hard to pick an "average" amount of smoking, but in Delaware the average is about 185 packs a year, which works out to just under $1,000. In Utah, the smoking rate is muc…h lower. Check the Related Links section below for an article about how much smokers in different states can expect to save by quitting (and thus, an average cost of cigarettes per year).
Emily earns 40000 a year She pays 30 percent tax every year on her annual earnings How much money does she pay in tax?
40000 X .30 = 12000
That is the age old question. The problem with the question, before you even get near an answer, is whose definition of 'the rich' shall we use to answer. I have a friend whos…e household income is six and a half times mine. Their annual taxes are about my annual income. They consider themselves working class. If you called them rich, it would make them laugh. In today's economy, if your income is one or two million per year, you need to have a tax accountant working hard to keep less than half go to taxes, then you have to pay the accountants. At this level, unless you want to pay half of your income to the government, you need to have complicated investments and places to legally secure your money so that doesn't happen. If you call these people rich, they may not laugh but they don't feel as 'rich' as you might think. they usually think of 'rich' as the people who count their money in billions. Now, when we get to a billion in income, no one can dispute the label 'the rich'. What they pay in taxes is even more complicated to find. They work twice as hard to keep money from going to taxes than the millionaires and a staff of people to help them do it. I personally count the money I pay H&R Block to prepare my taxes as the cost of taxes and I'm sure that billionaires include the cost of that staff the cost of taxes also. Income tax is not the only tax we pay. We all pay the same taxes in sales tax, If I buy a thirty dollar blanket, I pay the same level of tax on it as the person who buys a hundred and thirty thousand dollar car. The property we own is assessed an amount of taxes each year. I personally don't own property but the people I know do. They all pay those taxes that I don't have to pay because I could never afford to buy property; the more property you own and the more valuable the property, the more property taxes you pay. Then we come to the money that 'the rich' don't pay directly to the government, but some of it gets there anyway. How many millionaires or billionaires do you know that clean their own houses, change their own oil, or mow their own lawns; not too many. They hire a staff to do that. They pay staff and services (provide jobs) who in turn pay taxes on the money they earn from their employment. 'Tax the rich' is a political term that's been around since the horse and buggy. Many people use the term as if they were pointing to a specific group of people standing in line at the tax office. People who really are rich by anyone's standards will always find ways to shelter and secure their money before taxes are assessed. If your minimum wage check had deductions for half or more in taxes before you were paid, you would see why they are compelled to do this. There was a time in a place called the Soviet Union when everyone was paid a similar wage (theoretically) even though the government owned everything and everyone worked for the government; surprisingly enough, even they paid taxes to the government. How much tax do the rich pay: even they couldn't tell you. You are so right because today I had a project due tomorrow and they said the same thing.
The tax rate for a $125,000 per year salary would be up to 25%. This would be up to $31,250 per year in taxes.
There were 131,113,969 returns filed in 2004. Of those who filed, 42,545,501 (32.4%) had zero tax liability. This is estimated to increase to in excess of 40% in 2009. A filer… can represent an individual, a household or in some instances a small business in the form of a proprietorship. Contrary to a quip previously posted that only the poor pay taxes, the top 1% in terms of adjusted gross income (AGI) account for 39.9% of income tax collected in 2006. The top 25% (AGI > $64,702) account for 86.27% while the bottom 50% of filers by income don't even add up to 3% of collections. - BB From the Tax Foundation: In 2004, a record 42.5 million tax returns - one-third of all returns filed - had no income tax liability because of the available credits and deductions in the tax code. This is a 42 percent increase in the number of zero-tax filers in just four years. In addition to these zero-tax filers are the 15 million individuals or households who do not earn enough to file a tax return. Overall, nearly 58 million taxable households are outside of the income tax system. These findings raise serious questions about the future of the U.S. income tax system. Are any future tax cuts, or even tax reforms, possible when the lion's share of the tax burden is increasingly borne by a shrinking pool of taxpayers who - at least on paper - appear to be "upper-income"? And will the expanding pool of non-payers demand even higher income taxes? http://www.taxfoundation.org/research/show/542.html
If a person makes between | $60,950 and $61,000, they will pay varying amounts on $61,000 depending on how they are filing their income tax returns. Someone could pay between …$4,284 and $3,949 if filing taxes on $61,000.
According to the Tax Foundation, a nonpartisan organisation, the average American pays an average tax rate of 12.60% percent on their income as of 2008. According to th…e figures released from the 2007 US Census the median earnings of men who worked full time, year-round were $45,113 and women were $35,102. Arithmetic provides: Tax for Men: $5684.24 Tax for Women: $4422.85 According to figures based on the average reported income of Americans, as tabulated by data collected from income tax returns in 2008, the median income of all people, both men and women, is $31,987. Tax on Average: $4030.36 Please consider that this was in no way calculated by an economist or an actuary with accredited math skills, also that this only represents income tax and not other forms of tax and that the figures available from the sources mentioned are not always compatible. However I believe that this answer may be marginally more educational than the former one which stated the unfounded and likely erroneous figure of $10 million.
Multiply the 40000 by your marginal tax rate and that would be the amount of federal income taxes that would be due on the 40000 taxable amount. 40000 X 15% = 6000 of federal …income tax
They pay 22% of 4.19 billion dollars. You do the math. In 2010 the United States paid over 7.6 billion dollars to the UN. Payments to UN peace keeping / defense missions are …not part of the regular budget. The State Department budget paid 5.5 billion, other agencies, such as Agriculture contributed various amounts to different US initiatives.
over 6 million each year
There are many, many different 1099s and some can handle many different types of things. The tax you pay on most ANY income depends on your own personal situation, other …income, expenses, deductions, etc., etc., Many times, all or part of the income on a 1099 is not taxable at all....it must be reported, but isn't taxed.
The IRS has a ten year statute of limitations to collect taxes, generally. This ten year clock starts running when the tax is originally assessed (when you file a return…). I say generally because there are a lot of things that can stop that ten year clock from running. Simply put, if there are any circumstances that prevent the IRS from collecting the clock stops. This can include filing bankruptcy, filing certain appeals with the IRS, filing a law suit against the IRS, submitting an Offer in Compromise, etc. Even being out of the country for more than six months stops the clock (no sense in running to Mexico).