/biz/ - Business & Finance

>>23148463
>400k
>Not enough
Lolwut

>>23148463
$400k is _a lot_

If anyone says anything else theyre full of shit. Unless theyre millionaires

>>23148463
if 400k is barely scraping by some imagine making 10 k a year lol

>>23148463
Yes. I don’t make 400k but my household makes around 250k from wagecucking and small business. Rent is 2.5k and then the rest goes into utility for home and business, insurances, the basics and taxes and in the end we can only vacation 2-4 weekends a year.
That’s weekends. We can’t even take off entire weeks.

115K is probably the upper limit of paycheck to paycheck.

>if you're income is 4x more than one year of college you're an evil richie rich

>>23148578
If you're "just getting by" on $250k per year, you're living way above your means.

>>23148683
What small business do you own? Do you have accountants and business insurances too? How much do you spend on tooling/equipment?

>>23148578
This has to be a larp. With 250k income you should be saving like 200k each year

>>23148578
>250k a year
>still spend all of it
holy fuck I can't wait for the rich to get the rope

My sweet summer child. Politicians have been using this tactic since the 40s. They always lead in with it will only affect the rich. Thats how income tax started. Seasoninged

>>23148722
>>23148745

>Business expenses? What dat sheeit be??

>>23148803
Business expenses should not be counted in net expenses retard. That's business not personal.

>>23148722
I forgot to add, some of the equipment I’ve bought in the past 3 years is 60k-80k and I have to pay that off monthly and have insurance for it as well
>>23148745
You will always be poor if you don’t understand money you retarded faggot.

>>23148463
I have $700k and not comfy until $1.5M. Luckily I have a shitload of Safex miners humming along.

>>23148722
with 250k income you pay 112k in theft/TAXES. With 138k left, subtract tithe and charity = 125k / 12 months = 10.k/month. say 3k for living expenses. saving 7k/month x 12 months = 84k/ year savings.
Do that for 30 years and retire with 2.5million (maybe 10m depending on markets) - but lets assume markets fuck your butt. 2.5 million - that's just enough to end up beaten by niggers in a retirement home when you're 90.

Invest in your family and children, not in another man's corporate profits.
Because at 250k, you're still poor.

>>23148463
I make 1/10th that and I'm doing okay

>>23148463
>400k not enough
Well stop buying fucking cappuccinos what the fuck

>>23148463
Between my wife and I, we bring in around 200k. We do not take any kind of big vacations, don't have really nice cars (a 2018 and paid for 2009), live in a moderate house. We also have 3 kids. To have a good lifestyle, I need to make about 400k. That would give me more options but no where near wealthy.

>>23148708
You're overleveraged you fucking retard. Cut back expenses before you become the 80%.

>>23148639
>1 year of college
>100k
Confirmed to never have gone

>>23148578
i make $70k/year, pay $1000/month to live in a nigger shithole apartment, and i've never gone on a vacation in my entire life.

>>23148463
Does not matter.
Biden has pledged to remove the trump tax cuts.
The result:
Income tax increase for every wealth bracket.

>>23148463
The fucking old scam by ((the government)).
Income and wealth are different things, but they dont want to go after the wealthy, they want to go for the middle class who pays the most taxes anyway and has a decent income but no wealth.

>>23148578
I am right there with you. I have 3 kids and money goes fast. We don't have much debt, house is paid down but we can not afford to take any kind of big vacations (overseas). Just barely comfortable at $200k/yr. I would not consider 400k wealthy but would give way more options and a bump in lifestyle.

>>23148578
bait

>>23148708
Dude you are conflating turnover with profit.

>>23149050
I am I will admit. The decisions I have made will pay off in the future since they’re business investments that have a earned me about +15% every month, at the cost of being in debt of course. Once I pay everything off I’ll be ok

>>23148708
This retard doesn't understand how business owners separate income

>>23149017
so you're a retarded nigger conflating income of your business and personal income.

If you have a family and live in NYC, yeah maybe.

>>23148578
You're a stupid nigger.

BTW - OP article is a perfect example of a "red herring" to mislead and distract the masses from what has actually already been pledged in regards to biden taxes.
Highlighted here: >>23149077

>>23148578
I make minimum wage and have been on 4 holidays this year (Spain, Greece, North Wales,...)

I have to do almost nothing for my job (it's academic research) and still have plenty money in the bank and in crypto (10k LINK)

WTF are you even doing bro? Imagine stressing over a business and then only getting 2-4 weekends

>>23148708
>>23149017
>>23149130
Everyone point and laugh at this gorilla nigger!!!!

>>23149065
get out. get away from negroes. go be poor somewhere else. you can be poor and enjoy life, but not around negroes.

>>23148463
Yes it is, imagine you're some corporate lawyer or IB dude in NYC. These people have built a life supporting the spending habits of their trophy wives, a coke habit of their own and the secretary they fuck to get away from their family. Then they go deep into debt getting a place in the Hamptons or a super car just because their stupid wives want to keep up with the Jones's when they see someone making 1M a year with a place in the Hamptons. Im not saying they deserve pity but they have 7 figure net worth with the tastes of someone worth 9 figures.

>>23149027
Saving 84k a year where i live is very rare and is fucking great.

>>23148463
muh poor people who just have to live in downtown new york city / san francisco. won't someone please think of these poor people

>>23148708
Business revenue = personal income.

>>23148463

fully support taxing income over 400k especially since i make 300k, it will level the playing field

>>23148463
Why did OP post this?
Answer: He is pro-biden and wants you to be too.
OP & Media wants you to concentrate on 400k+.
Lol.
biden will raise taxes on everyone and including halving the standard deduction that trump taxes doubled.
Result:
Every American will pay more taxes.
https://www.cnn.com/2020/10/09/investing/bank-earnings-preview/index.html

>>23149707
oh no, he'll undo the shitty trump tax cuts and poor people will lose their amazing 0.5% tax break. oh noooooooooooooooooooo

>>23148463
>boohooo my second BMW doesn't pay for itself.

>>23149707
But anon, how will we pay for shaneeqwa's kids and wars in the middle east? The money needs to come from somewhere.

>>23149707
why do trump cucks like this vote against their own self interest? we all know the majority of them are literal hick high school dropouts barely scraping by at their manual labor job. gotta own the libs I guess kek

>>23149783
Trump Tax cuts for the lazy, dishonest, and incompetent:
Standard deduction went from $6350 (previously) -> $12700 (trump) for single filers.
Income taxes dropped for everyone. Ref pic.

>>23148463
I live in NYC and will make around $300k this year and I’m nowhere near rich. I live in an old 1br apartment. By the time I pay federal, state, local, fica, etc, and contribute to my 401k my checks are about 45% of their original value. I’m essentially a government employee. They keep more than me.

>>23148722
>t neet loser who has never had a job or paid a dime in taxes
Shut the fuck up faggot

>>23149955
so move out of NYC. nobody is crying tears for someone making 300k

>>23149955
ooooh no you have to pay 45% tax just like every other person who makes your income? ooooh no that's terrible! poor you

>>23149091
Exactly this. Socialism is awesome if you’re really poor or if you’re really rich already. The second I have enough money to stop working I’m going to vote for the most far left Democrats all the way down the ticket every time. And then I’ll just kick back and collect government gibs and make all the middle class poorfags support me while pretending I am on their side.

>>23148708
Holy fuck I feel bad for the accountants taking your dad's business as a cleint since your retarded family doesn't understand the difference between business and personal income. How often do they have to explain to you that you cant buy lottery tickets on the company card? Enjoy your IRS ass raping

>>23148578
The fucking absolute state of.

I have like 8-9 weeks of paid holiday per year and I make 45k€ gross per year. Holy fuck get yourself together America. Also paid sick days etc. HAHAHAHAH YOU'RE SO FUCKING KEKS JESUS.

>>23149027
At a safe withdrawal rate of 4% and not questioning or objecting to a single one of your numbers I could live comfortably in 10 years on an income of 33k, assuming we're still using U.S. dollars. You must be retarded.

>>23150128

>Socialism is awesome if you’re really poor or if you’re really rich already.

so basically everybody

>>23149989
Nah, just live in a non retarded country. But yes, neeting of chainlink is a good meme for now.

>>23150026
>>23150082
I’m not asking for sympathy the point of the thread is that I’m nowhere near rich and I’m already paying half my income in taxes. You commie losers can vote to squeeze another couple percent out of me but it will not make any difference in our deficit whatsoever this is purely just a class warfare tactic.

>>23150200
yup, sounds good. fuck muh free markets that are controlled by jews.

>>23150230
you write like a loser incel from /pol/ so I highly doubt you make 300k anyway, faggot

>>23149955
>I live in NYC
Checked. Don't do that, anon.

>>23150190
There’s a reason we have the biggest economy in the world and all the best companies are based here. Enjoy making $50k your whole life with no upward mobility you fucking peasant.

>>23150200
If you’re ok with staying lower middle class your whole life and having no chance to move up or retire before 80 then sure

>>23150295
go back to your TPUSA facebook group, loser

>>23150270
Ya I’m sure earning a lot of money seems impossible when you’re a fat neet with a double digit IQ living in moms basement but in the real world plenty of people do especially in NY. Also, I’m voting for Biden.

>>23150277
I don’t want to but it’s hard to earn this much anywhere else. I have 20k LINK and a couple hundred ETH so hopefully I won’t have to work much longer.

>>23149027

>top marginal tax rate is 37% STARTING at 500k for SINGLES
>actual taxes on 250k is 24%, but only on money made after 171k
>112k taxes on 250k is 44.8%

Lets just assume they pay 25% on the whole 250k. Even if they payed the max amount with no deduction it would still be 62.5k. Even at 1k a month in insurance and state taxes that still only takes you to 85k in taxes / insurance.

>tithe and charity

If you pay tithe, fine. Anyone giving to charity when they don't have a fully completed savings/nestegg/investment portfolio is acting fucking stupid.


Lets recap
>250k/yr
>85k taxes insurance (33% of income)
>60k/yr rent
>50k/yr other living expenses

This is all assuming the actual worst possible scenario in which a person is totally fucking retarded. And this person would still have 55k/yr to save and fuck around with. After 5 years they would have an investment portfolio or bags to hold that would be 100% of 1 years income. After 10 years they could be nearing retirement.

People who make more than 100k/yr and don't live in the DEAD CENTER of either San Fran or New York are RICH.

THEY ARE FUCKING RICH. And the only way for them to not be rich is to totally squander ever fucking cent they make. And then bitch about it because cognitive dissonance.

>>23150340
USA is a fucking shithole in all aspects other than ability to make money. I’m moving out as soon as I have enough to retire. Which won’t be long because fortunately I don’t live a socialist country and you can actually make it here.

>>23150467

I also live in NYC, also made 300k, also live in a 1br, also want to gtfo of the US, but if it's so great here why is our goal to make just enough so that we can get out

>>23150467

fact is we will never get out, we will probably be running on this hamster wheel for the rest of our lives

>>23150505
It isn’t great. USA peaked decades ago and is now spiraling the drain. Capitalism is the only thing we still do well but of course we’re getting rid of that too now.
>>23150521
Speak for yourself. I’ve been living below my means and investing every penny. If I can keep the pace I’m at I’ll be able to get out of here in less than 5 years.

>>23148578
>>23148708
Why the fuck would you state pre-expenses income if you're running a business? Backward americans, just state your personal net income before rent and other cuckery. Also I get the idea that you're already in hyperinflation reading some of you sad fucks making close to fuck you money and feeling poor

>>23148708
>>23149017
So you aren't poor you are just complaining like a little bitch. Nobody forced you to start a small business and invest in your future. You even know if will pay off. So maybe don't call yourself poor like a faggot. There are actually poor people in the world and yes you are working like a dog but you are working towards being a free man. You are like those annoying kids in school who would say "omg I did so bad on the test" and got a 97%. Most people couldn't start a small side business even if they wanted to.

>>23150623

What's your plan then? I've been doing the same, I have about 250k saved up, but how much do we need and where can you actually go? Almost have enough to buy a golden visa but still need some spending money

>>23148529
who needs to imagine? I make that while living in the second most expensive state.

>>23148463

400k is a lower vs upper middle divide and conquer tactic

Neither group is wealthy (poors or income dependent yuppies) compared to actual rich ppl who make it on capital gains. The focus should be on 250 mil+ net worth with strong tracking end enforcement of final tax payout if richies try to expatriate

USA IS LIVING HYPERINFLATION
ZIMBABWEAN TIER ONE
KYS IF YOU ARE A MUTT

>>23150190
I smell a heavy scent of cope from this muslim post.

>>23150505
How realistic is this?

>>23148578
Where do you live and what do you do?

>>23149872
Magatards are leftists economically.
Anyone who is against free markets and free banking is a bootlicker.

>>23148463
You deserve stage 3 colon cancer if you can't figure out how to make your life work for you on $400,000/Year

>>23148578
How realistic is this?

>>23149027
>tithe

Stopped reading there, if you want to cuck yourself so the vatican can buy a new child sex slave that's on you

>>23151408
it's a niggerbrain analysis where they conceive of every possible expense and then say S-SEE? WE DON'T HAVE ANY MONEY LEFT OVER AFTER SPEDNING EVERY CENT!!!!

>$2100/mo food
>$850/mo health ins
>$350/mo in diapers
>$605/mo vacations
>$500/mo entertainment
>$400/mo clothes
>$300/mo charity

>>23151408
$70 a day on food, I fucking hate normies