I love the fact that everyone here on BP knows that it's not about just making more money/cashflow/appreciation, but saving/cutting costs/increasing efficiencies really help your bottom line. It also helps when your mom is a CPA!
Tax implications can be extremely impactful and also detrimental.
In Arizona, if you make +$200,000.00 per year:
- Your Take-home pay: $140,562
Residents in the Valley of the Sun enjoy a graduated state income tax system that helps keep overall tax rates low. The top state income tax rate of 4.54 percent only applies to single filers earning at least $155,159, or joint filers earning $310,317 or more. The state also offers decent standard deductions and personal exemptions to taxpayers.
Happy Investing in Arizona!