Originally Posted by
SwampFoxx
Ok, so I looked over the 1040 that taxact.com filled in for me. Everything pretty much tracks with what you said and my FEDERAL tax due is $38k. But when I include Box 4, 6, and 17 which is Social Security tax, Medicare tax, and State tax, the total comes to $67k. Anybody got a barf bag handy? Think I’m feeling sick to the stomach.
That sounds about right, since you're including Federal, SS, Medicare and State income Taxes. It's easier to discuss taxes with others without lumping them all together like that, but I digress.
Add in sales tax (if applicable) on your spending if you want to hit 6 figures.
Then, if you want to get REAL crazy, estimate how much more you spent at POS due to tarrifs.