No Income Tax/ Pay?

[RNBelle]

I am moving to TX in about 6 wks. I know there is no state income tax. My question is what % of your paycheck goes to federal taxes? Here in SC about 20% of my paycheck goes out to state and federal taxes.

[TheCommuter, BSN, RN]

Hey: If I am right, $3500 she pays on property tax is pre-tax money on Federal tax. So you can take 27% off that $3500.

And, the $3500 can be itemized from your income taxes when you file every April.

[sjt9721, BSN, RN]

And, the $3500 can be itemized from your income taxes when you file every April.

Yep..and then the $______ you pay each year in interest!

*sigh*...reminds me I need to get the tax stuff together...

[Jolie, BSN]

I am moving to TX in about 6 wks. I know there is no state income tax. My question is what % of your paycheck goes to federal taxes? Here in SC about 20% of my paycheck goes out to state and federal taxes.

Your federal tax burden does not change from one location to another. It is consistent nation-wide, based on your income and eligible deductions.

[RN1989]

And, the $3500 can be itemized from your income taxes when you file every April.

If you do not have enough deductions over and above the standard deduction, itemizing and taking off your property tax does not help you any. Even when you can itemize, certain deductions cannot be fully counted as you must have paid over a certain percentage of your income to qualify for a full deduction on that item.

Things could be worse, at least TX isn't like the Commonwealth of VA where you have to pay personal property tax yearly on your vehicle(s).