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To: savedbygrace
For this post, I assume your $600 fee is on a contract basis and you get a 1099.

So your current tax rate is what? 15% for FICA plus income taxes. Which will both be eliminated. So for the same $600, after forwarding on the NRST, you end up with about the same amount of money if not more at the end of the day.

128 posted on 09/24/2007 9:02:21 AM PDT by Phantom Lord (Fall on to your knees for the Phantom Lord)
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To: Phantom Lord

Nope, my CPA has it structured so I pay a lot less than that. And he’s a conservative CPA, meaning his recommendations are much more safe than risky, so there are no shenanigans going on.


130 posted on 09/24/2007 9:07:17 AM PDT by savedbygrace (SECURE THE BORDERS FIRST (I'M YELLING ON PURPOSE))
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To: Phantom Lord; savedbygrace
So for the same $600, after forwarding on the NRST, you end up with about the same amount of money if not more at the end of the day.
Minus another 23%.

After the Fairtax SBG would collect $780 to net $600 then pay 23% of that when s/he spends it.

The total percentage of his/her gross income to the Fairtax would be about 41%.

If his/her service was worth 30% more, don't you think s/he would be charging that now?

170 posted on 09/24/2007 8:05:51 PM PDT by lewislynn (What does the global warming movement and the Fairtax movement have in common? Disinformation)
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