(That pay would effectively be almost 10x what the average person in the US makes a year.)
That’s without oasdi, Medicare, state taxes, city taxes, and insurance.
44% though was high, you’re right about that, because some of that tax was paid up front off of bonuses and will reduce over the course of the year.
I’ll probably end up around 35% without counting retirement and of course without counting all the other nickle and diming taxes that are paid post tax
Ofc not counting social security, medicare, and that state tax that is around half as much as what you are paying federally (which is more than double many other localities).
So you were saying as a combination kind of effective tax rate, got it.
When you first said that 44% number, it was very fishy - because there is a federal cap at 37% :)