unfortunately thats not correct. If youre making the kind of money we're talking about ($500k+) and self employed your tax bill is - barring exemptions and write offs.
- 37% Federal Tax
- 13% State Tax (california)
- 15.3% Self employment tax (for social security and medicaid)
= 65.3%
This also doesnt take into account any municipal taxes, property taxes etc.
Obviously if you've got a good tax accountant and are smart you can reduce that but it will still be 45%+ total tax paid. Point being, as one person has said, Mark hasnt shown anywhere near a good enough income source to pay for their lifestyle.
But I Digress....this isnt a tax thread so lets get back to sexy pics of Mark and Ethan.
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