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Preston Seo | Legacy Investing Show 💸 on Instagram: "Here’s the real math behind the example: Case 1: $300K W-2 in a high-tax state. This is the tax stack: Federal tax: approx $65K–$70K. California/New York state tax (or similar): $20K–$28K. City tax (NYC/SF): $8K–$12K. FICA + Medicare: $14K–$16K. Additional Medicare surtax on high earners. No major deductions except standard or itemized. A normal high earner in CA or NY can lose $110K–$125K of a $300K salary. That leaves $175K–$190K take-home.
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