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?

when did income become an expense?

stop worrying so much worried...

9.5%? Seems low...

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

how old are you?

0%, is this a trick question?

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

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

I am 28.

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

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

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.