My spouse and I work at FAANG. We started together 6 years ago as new grads and now our TC is ~470k (each), and it'll go higher as our stacked refreshers vest. We will hit a combined TC of 1M next year which means our income will be taxed ~10% more (and not on the extra part, but the whole thing, which is really unfair). Any idea how to reduce this new tax that Biden started? Looking for practical advice. (And no, we were not eligible to vote, so please don't get political). Thank you
Why does the whole TC get taxed? It doesn’t work like other tax?
Please pay your fair share. If it weren't for this country and it's infrastructure/services/investments, you wouldn't be making that sort of TC
They seem to be paying their fair share already. They are talking about a Biden tax. Which is an addition to what a fair share was until this year.
There is too much inequality. Lots of people suffering who are working hard and contribute to society, the society that allowed you to become wealthy. Have some perspective and empathy
That's not how tax brackets work, moron.
Get an accountant because you clearly don’t know how taxes work. The (edit: 39%) rate is only on the marginal income above 622k. Accountant will also tell you if it’s better to file married jointly vs separately.
You're wrong. He's talking about the new capital gains tax, which applies to all of your capital gains if your total income is above $1M.
Launder it
Gtfo troll
Invest in properties.
Help meh, I'm too rich 💵😭💵
So ur basically asking help to evade tax? If you find this unfair, find a lower 💲 job.
Can you donate to non-profits to get below the threshold?