Gross and Net Salary: Why I Don't Like Taxes

    My gross salary is $250,000. First I took out federal taxes. I am in the $15,454-$33,379 tax bracket, assuming I get paid a monthly (giving me a $20,833.33 paycheck). The taxes for $15,454 are $3,716.95, so I added that to the required 33% of the money I made over $15,454. This 33% is taxed on $5379.33 for an additional $1,775.19. (This is what I add to $3,716.95 for a total of $3,550.36 monthly income tax.) My yearly income tax withholding is $42,604.32.
    Social security is a 6.2% withholding of a paycheck, but there is a cap where I stop paying the 6.2% on my income at $113,700. This makes for a total of $7,049.40 out of my paycheck for social security. Medicare is a 1.45% deduction on the total gross income, so that is a $3,625 deduction.
    So far, with federal income taxes paid and social security and Medicare payments withheld, I have $196,721.28. Using this amount, I filled out the 2012 TC-40 form, which is Utah's individual income tax return form. $9837 was deducted in state taxes. This leaves me with a yearly net income of $186,884.28.
http://www.irs.gov/pub/irs-pdf/p15.pdf#page42
http://www.irs.gov/pub/irs-pdf/p15.pdf#page13

20% Project October

     We accomplished our part if our September goals, which was mailing the packets. No one has responded to our letters, though. As of September, this is our only problem. By the end of November we will hopefully have heard back from both Toby Keith and Denver Broncos and have started planning the events. By the end of December, we will hopefully have a date set for the events and be well into the process of planning the events.