> my actual change is net zero
Really? From what I can find on the internet, CA state income taxes are usually in the 10% range for most folks. Are you really paying 10% of your income for health insurance? I'm paying about 2.5% right now.
Really? From what I can find on the internet, CA state income taxes are usually in the 10% range for most folks. Are you really paying 10% of your income for health insurance? I'm paying about 2.5% right now.
The 9.3% marginal bracket stretches from 61k-313k. (260k is the 95%ile for CA tax returns, so minor-increase brackets above this one don't matter all that much) 10.3% is 313k-375k. 11.3% is 375k-625k. (99%ile is 680k)
At 61k, at the end of the 8% bracket, the real tax rate is still just 4.40%. At 100k, 6.30% actual. At 150k, 7.30% actual. At 313k, 8.32% actual. At 375k, 8.67% actual. At 625k, still only 9.72% actual tax rate. We finally cross 10% actual at about $702k AGI.
It's really, really important to keep in mind how much marginal rates mess with calculations, particularly when estimating.
Also, Californians are statistically much poorer than people often expect, especially around here.
[1]: https://www.nerdwallet.com/article/taxes/california-state-ta... [2]: https://www.irs.gov/statistics/soi-tax-stats-adjusted-gross-...
I highly doubt that number is only 2.5%.
The COBRA monthly pricetag is $2093.
While employed (at this Fortune 300 company's San Jose, CA office), I was paying $425 per month out of pocket for the same set of plans.
[1] https://www.bls.gov/ncs/ebs/factsheet/medical-care-premiums-...