loan,banking and credit
*Loan,banking and credit>>>tax bracket

Do consultants have a higher tax bracket?


I have heard they do.

You guys seemed to think the guy with $27 million was still in the 30% tax bracket - could that be right?!?

I thought mine as a normal worker bee last year was around 33%. Will it go up next year now that I am a consultant? For a salary of ~$50K annually before taxes? And the magic tax bracket number is...

The IRS doesn't care WHAT YOU DO to make money...it cares HOW MUCH YOU MAKE. Your income minus deductions determines your tax bracket. Period. I could rake leaves and if i made $2mm doing that, i would be in a higher bracket than ... a consultant...or doctor...or banker...whatever....who was making only $50k
You will be subject to different tax treatment if your consulting business is run through a C corporation.
Tax bracket is determined by taxable income. There are different tax brackets for individuals and corporations, but neither cares what the individual or corporation does for a living. It's just about the money.
Tags
tax accounting tax advice tax attorney tax bracket tax calculation tax calculator tax credit tax cut tax deduction
Related information
  • Do consultants have a higher tax bracket?
  • Can capital gains affect which tax bracket I am in?
  • How do I figure out what tax bracket I am in?
  • How do I find out what tax bracket that I am in?
  • How does the higher tax bracket work?
  • Range of Midddle Income tax bracket?
  • Anyone know the 2007 tax bracket information?
  • I went into another Tax bracket and I need help?
    •    

    SiteMap--Copyright/IP Policy--Contact Webmaster
    For personal non-commercial use only.