415-898-0600 Fax: 415-898-0229
February 2006
Dear Clients and Friends:
Income level and taxes paid
Here is the data from the 2003 tax year income tax returns. The data is obviously for the entire United States and not the bay area:
Portion of returns filed Portion of tax paid Minimum AGI to be part of group
1% 34% $295,500
5% 54% $130,100
10% 66% $ 94,900
The bottom 50% of tax returns included only 3.5% of the tax paid for 2003.
Where does your 2003 AGI (line 34 on the first page of the federal return) put you?
Disaster Preparedness
The following idea is not in lieu of water, cash, food, shelter, flashlights, etc. But, in your zeal to be prepared, do not forget about financial, legal and personal documents.
You should have a fireproof box that contains the following documents. By having all of these items in one box, you can easily take the box should you have to evacuate.
• Will and trust
• Powers of attorney
• Financial statements
• Insurance Policies
• Passports
