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pilib | 15 years ago
You have social security, medicare, state and federal income tax.
You should take into account that some parts of the US are more expensive than others, and that state income tax is not the same for every state. Also, 401k (pension plans) and some other types of savings, investments are deductible from the taxes.
It all depends on who you live with, do you have children, etc.
antirez|15 years ago
troydavis|15 years ago
Relatively few personal purchases are deductible. The most heavily used personal deduction is mortgage interest (interest, not principal). Otherwise most personal deductions are things like tuition, major healthcare expenses, tax paid elsewhere (sales, property), and alimony payments.
And for a majority of Americans, none of these things actually appear on their tax return. Only 41% of American taxpayers file a return listing the deductions above ("itemize"), usually because they carry a mortgage.
The other 59% just take a single deduction ("standard deduction") of about $5800 per adult (http://en.wikipedia.org/wiki/Standard_deduction).
Finally, if someone found legitimate ways to deduct the things you listed (for example, they were unreimbursed business expenses), they would run into the Alternative Minimum Tax (AMT). AMT is a floor on the percent of income which must be paid as tax. In calculating AMT, most deductions get ignored (and it ignores one's effective tax rate in other years).
pilib|15 years ago
kacper|15 years ago