Comments on: Dollar Saved is More Than a Dollar Earned

By: MoneyNing

MoneyNing — Tue, 03 Jul 2007 14:54:18 +0000

TheLocoMono: Great, I will check it out and see what it does.

By: TheLocoMono

TheLocoMono — Tue, 03 Jul 2007 00:26:05 +0000

I would suggest checking out MoneyChimp website to really see how much you pay taxes on your earned income. They have a pretty simple calculator because even though you may be in a higher bracket, you are not really paying that much. It is based on the last dollar you earn. So if you are in the 15% tax bracket and you earned 1 dollar over the 15% limit, you would pay 25% on that 1 dollar. Great article.

By: J at Home Finance Freedom

J at Home Finance Freedom — Mon, 25 Jun 2007 19:05:24 +0000

“Earned” can have multiple connotations but the important lesson is to account for all necessary taxes in a transaction.

By: MoneyNing

MoneyNing — Mon, 25 Jun 2007 18:37:31 +0000

Lazy Man and Money: Yes I can do that, but that can also be changed easily with tax withheld too and it gets messy if you have to calculate the refund you get and try to put that money back into the mix.

There is just no right way, the important thing is to live below your means!

By: Lazy Man and Money

Lazy Man and Money — Mon, 25 Jun 2007 16:44:04 +0000

Or you could just consider only after tax dollars as “a dollar earned.” That’s what I do.

By: J at Home Finance Freedom

J at Home Finance Freedom — Mon, 25 Jun 2007 11:24:28 +0000

Hello. I agree and I wish more people understood it. This tax cost is partly why I wrote, “Minimizing expenses is your most powerful tool” (click name link for article).