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Originally Posted by Grapesoda
yes it does .... the best year I ever had went into expenses and taxes... the brain trust here can't seem to understand is you're only allowed to deduct 'x' amount in expenses and then the rest must be amortized... i.e. spend 150K on gear, write of 25k and pay tax on the other 125k that you don't even have, but the following 5 years you can write 'x' percent of the 125k off... computers are the worse... before you can even get the fucking things written off they need to be replaced. I actually had more expendable income when I was grossing 250K a year with net of about 70k-90K... it's amazing to me
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Sorry one more post.
You do know that the Bush tax cuts were made permanent and the only change was for earners above $400k. Otherwise the taxes have been the same rate.... I'm not an accountant and there may have been other changes (mostly ending halving the payroll tax... but that effected lower earners the most), but nothing has changed much. Taxes are still extremely low relative to the rest of the western world, but the rest of the western world doesn't have to pay for healthcare so it balances out... maybe... slightly..