Quote:
Originally Posted by Undertoad
Who says they are in a low bracket?
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I'll say it. Who would say otherwise? I'm sure there are outliers, but
most won't go past
the 12% bracket. And you only benefit from tax deductions by the amount they exceed the
standard deduction of $12000-$24000.
So take the total business deductions listed above, subtract $12,000, multiply by 0.12, and divide by the number of hours worked, and that's how much the deductions affected the wage.