Wednesday, January 31, 2007

Married taxes

A couple of months ago, I threw out the challenge to tell me how much a single guy making a million would pay in taxes. Today, I throw out the challenge for a married couple.

Assume a married couple with two kids (ages 10 & 11), both work making $60,000/yr, they have $8,000/ a year in mortgage interest ( $123,000 x 6.5%) with $3,000 a year in real estate taxes.

Assuming no 401k contributions or other investment income

How much do they pay in all collective taxes?

1 comment:

Anonymous said...

$1,300