Thursday, November 7, 2013
Salary
I stared with 50,000 dollars for my salary. With the Bahamas they don't have income, corporate, capital gains, value added,or wealth tax. They do have payroll taxes fund social insurance benefits. The amount is 3.9% paid by the employee and 5.9% paid by the employer. So I took 50,000-(.039 x 50,000) I multiplied .039 x 50,000 and got 1,950 then I subtracted 50,000 and 1,950 and my net ended up being 48,050.
http://en.wikipedia.org/wiki/Economy_of_the_Bahamas
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That's pretty good not having to pay a lot of taxes
ReplyDeleteGood job!!
ReplyDeleteYou don't have many taxes! That's awesome!
ReplyDeleteI would rather have my company located here because of the lack of taxes! heh, good job(:
ReplyDeletegood math, but you didn't cite any sources! I didn't either.. so oh well. good job !
ReplyDelete