I recently accepted an offer from UBER San Fransisco. My TC will be 260k for the first two years and 235k after that. They set me up with a Deloitte team for my US taxes and they mentioned that with my income the overall taxes will be 53%. They said it will be in the 35% bracket and plus other taxes like social security taxes and etc it will be about 53%! Is this really true? Can someone shed light on this, please?
I always thought Ontario (where I live right now) has high taxes which seems sort of reasonable considering all the benefits we have (Health Care for example). If 53% is true can someone explain why is it so high?
Not even mentioning that if you rent a property in Canada you'll be taxed (almost) twice!!
Focus on how you can reduce your tax reliability through business and investments (besides purchasing a home for personal use - that’s a liability)