What percentage of your income are expenses? (Taxes) - GoFuckYourself.com

Worried · 04-11-2007, 05:29 PM

I finished doing all my spreadsheets for taxes and my taxes are around 9.5 percent of my total income.... Does that sound average?

What's yours?

baddog · 04-11-2007, 06:27 PM

when did income become an expense?

g$$$ · 04-11-2007, 06:32 PM

stop worrying so much worried...

Furious_Female · 04-11-2007, 06:53 PM

9.5%? Seems low...

mattz · 04-11-2007, 06:57 PM

you should have said taxes take 9.5 percent of your yearly earnings

how old are you?

aico · 04-11-2007, 06:58 PM

0%, is this a trick question?

Boobmeister · 04-11-2007, 07:40 PM

Quote:

Originally Posted by Worried

I finished doing all my spreadsheets for taxes and my taxes are around 9.5 percent of my total income.... Does that sound average?

When you say 'total income', do you mean 'adjusted gross income'?

Worried · 04-11-2007, 07:46 PM

Quote:

Originally Posted by mattz

you should have said taxes take 9.5 percent of your yearly earnings

how old are you?

Yes, that's what I meant. I phrased it incorrectly.

I am 28.

Worried · 04-11-2007, 07:48 PM

Quote:

Originally Posted by Boobmeister

When you say 'total income', do you mean 'adjusted gross income'?

No, I mean just total earnings for the year before taxes.

WiredGuy · 04-11-2007, 08:06 PM

A little over 40% in taxes, I can't sign the check, its too painful.
WG

Worried · 04-11-2007, 08:17 PM

I totally phrased the question wrong, I didn't mean how much do you pay in taxes (which I'm sure people can construe by reading the topic), I meant what percentage of your business income are expenses for tax purposes, such as monies spent on advertising, hosting, etc...

Kard63 · 04-11-2007, 08:31 PM

Quote:

Originally Posted by Worried

I totally phrased the question wrong, I didn't mean how much do you pay in taxes (which I'm sure people can construe by reading the topic), I meant what percentage of your business income are expenses for tax purposes, such as monies spent on advertising, hosting, etc...

We must be equally retarded because I took it that way. One thing you have to look out for is that not all tax deductible expenses are 100% deductible. I needed this pc for my biz, it doest mean I can write off the whole $6k jsut because I have a receipt that says $6k. I forget what percentage is applicable on such equipment. I know advertising is 100% write off. My business, the one I make money at anyway, is not on the internet. I might have 1 mil come in the door but 900k out the door in expenses. That would be 10% to answer your question.

04-11-2007, 05:29 PM	#1
Worried Confirmed User Join Date: Apr 2007 Posts: 149	What percentage of your income are expenses? (Taxes) I finished doing all my spreadsheets for taxes and my taxes are around 9.5 percent of my total income.... Does that sound average? What's yours?

04-11-2007, 06:53 PM	#4
Furious_Female Confirmed User Industry Role: Join Date: Oct 2002 Location: Upstate, New York Posts: 8,187	9.5%? Seems low... __________________ Skype: j3nn.com ICQ 160370494 My current favorite high-converting sponsor: CrakRevenue

04-11-2007, 08:06 PM	#10
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,481	A little over 40% in taxes, I can't sign the check, its too painful. WG __________________ I play with Google.

04-11-2007, 06:27 PM	#2
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	when did income become an expense?

04-11-2007, 06:32 PM	#3
g$$$ Confirmed User Join Date: Mar 2007 Posts: 2,807	stop worrying so much worried...

04-11-2007, 06:57 PM	#5
mattz Confirmed User Industry Role: Join Date: Dec 2001 Location: AZ Posts: 7,697	you should have said taxes take 9.5 percent of your yearly earnings how old are you?

04-11-2007, 06:58 PM	#6
aico Moo Moo Cow Join Date: Mar 2004 Location: Washington State Posts: 14,748	0%, is this a trick question?

04-11-2007, 08:17 PM	#11
Worried Confirmed User Join Date: Apr 2007 Posts: 149	I totally phrased the question wrong, I didn't mean how much do you pay in taxes (which I'm sure people can construe by reading the topic), I meant what percentage of your business income are expenses for tax purposes, such as monies spent on advertising, hosting, etc...