Quote:
Originally Posted by Unregistered
I have yet to come across any post on the income tax that people pay, only on claims of their incomes (whether salary or passive).
I have been paying above $20k pa income tax since 2011. Last year, it rose to $26K+. As it is quite substantial (at least to me), I opted for monthly deduction of $2.2k.
It eats up quite a bit of my passive income.
So when I retire, this amount ($26K pa) will be the immediate savings.
Anyone has similar experience? How to minimise the income tax?
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How come you cannot get bored everyday telling people how much you made and how much you spouse made.
I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.
So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day.......