No, for a single person a gold plan for Kaiser is $500/month, so $6k a year, but yes if I have $40k in investment income then I'd qualify for a premium tax credit, in this case my premium is capped to $318/month with…
Ok got it - yeah looks like it's around 4% with a $4k standard deduction.
Isn't short term cap gains taxed like earned income, which below $50k a year is 0 in CA? For federal if you make <$52k (w/ standard deduction) you only pay like a 11% tax rate.
I pay $2k in rent, so $24k. That leaves $1300/month for everything else. I'm easily below that most months. (No car, no drinking, cook during the week) I don't find SF to be any more expensive than any other "big" city…
Work for yourself eventually?
Yeah...seems to incentivize day trading.
Yeah...I realize I'm in a privileged position but just pointing out that if you're in a position to F.I.R.E. that taxes in California are actually low to nil for <$50k/yr despite its reputation as a "high tax state."
The trick is usually to get a job locally in SF, do well for a couple years, and then ask to work remote.
I'm in a mini-retirement right now and living in SF. It was surprising to learn that below like $50k you basically pay 0 in income tax in California. As a single person I can very comfortably live off $40k/year in…
No, for a single person a gold plan for Kaiser is $500/month, so $6k a year, but yes if I have $40k in investment income then I'd qualify for a premium tax credit, in this case my premium is capped to $318/month with…
Ok got it - yeah looks like it's around 4% with a $4k standard deduction.
Isn't short term cap gains taxed like earned income, which below $50k a year is 0 in CA? For federal if you make <$52k (w/ standard deduction) you only pay like a 11% tax rate.
I pay $2k in rent, so $24k. That leaves $1300/month for everything else. I'm easily below that most months. (No car, no drinking, cook during the week) I don't find SF to be any more expensive than any other "big" city…
Work for yourself eventually?
Yeah...seems to incentivize day trading.
Yeah...I realize I'm in a privileged position but just pointing out that if you're in a position to F.I.R.E. that taxes in California are actually low to nil for <$50k/yr despite its reputation as a "high tax state."
The trick is usually to get a job locally in SF, do well for a couple years, and then ask to work remote.
I'm in a mini-retirement right now and living in SF. It was surprising to learn that below like $50k you basically pay 0 in income tax in California. As a single person I can very comfortably live off $40k/year in…