The Abundance of Silicon Valley

Re:The Abundance of Silicon Valley by sokoloff on Friday October 16, 2020 @06:13PM (#24805541)

I get about 33% for that simple case (single, $221K W-2, WA, add the employer portion of payroll costs [same as employee contribution]). It's ~28%% without the addition of employer FICA.

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Re:The Abundance of Silicon Valley by mrep on Saturday October 17, 2020 @07:40AM (#24809267)

210 w-2, 19k 401k, 50k income taxes, 11k employer FICA, so about 61/221 = ~27.6%

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Re:The Abundance of Silicon Valley by sokoloff on Saturday October 17, 2020 @08:18AM (#24809422)

You’re eventually going to pay ordinary income tax on the 401(k) money, so I think you need to either include it in both or exclude it from both rather than treat it as entirely non-taxable as you’ve done above.

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