Hello! I’m a little in doubt, how the US tax system really works?
So let’s take Arizona for this example and an annually income of $100.000 for a single person. I’ve been using an online calculator and it says that after taxes it will remain $82.895, with zero itemized deduction, zero 401k and IRA contribution(if you can explain me those 3 terms would be even better).
So you can earn $100k and pay only aprox 17% taxes in this case, or it’s mandatory also to have others? What are the rules?
Thanks!