Re:The Income Rich Take One For The Team. Thanks!
by smsm42 on Wednesday January 02, 2013 @04:25AM
(#4995935)
I would assume $250K and other figures relate to AGI (adjusted gross income). That's how taxes are usually based. As to how to calculate AGI from nominal salary, there's a reason there are 1.7 million accountants in the US :) US tax code is one messed up piece of spaghetti code.
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Re:The Income Rich Take One For The Team. Thanks!
by dllthomas on Thursday January 03, 2013 @07:31PM
(#5005603)
For the $250K figure, you would be wrong. When that number was being cited, the top tax bracket started at something north of $350K ($366something, IIRC, but I may not) which wound up being $250k after taxes. This is, of course, precisely what is bugging me.