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Tuesday, April 09, 2019

California wants to tax soda, tires, guns, water, pain pills, lawyers, car batteries… Making $300,000 in San Fran? Still struggling

https://www.latimes.com/politics/la-pol-sac-skelton-soda-tax-20190408-story.html

To plagiarize T.S. Eliot, April is the cruelest month. But not for the reasons the poet wrote. Rather, for all the taxes.
And there are bills in the Legislature to make taxes sting even worse.
By April 10, Californians must pay their local property taxes. Five days later is the deadline for filing state and federal income tax returns. Also, the state and the feds want any initial pre-tax payment that’s required on current earnings.
So tax collectors get three swings at us this month.

 How making $300,000 in San Francisco can still mean you’re living paycheck-to-paycheck


With the median price of a home in the U.S. at $300,000, you can can achieve homeownership and the idealized middle-class lifestyle in most parts of the country making a salary just under or above six figures.
In San Francisco’s land of $2 million fixer-uppers, the income needed to reach this status is obviously more. But how much more?
S.F.-based finance expert Sam Dogen pinned that number at $300,000, after surveying dozens of readers on his Financial Samurai blog and asking about their incomes and expenses living in the notoriously high-priced coastal cities.

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