If one is receiving $50,000 salary in West Palm Beach would this be paid out the same if the receiving person moves with the same company to New York City?
Take into consideration employee taxes etc etc. (basic Payroll)
2006-06-25 07:17:34 · 10 answers · asked by PD 2 in Business & Finance ➔ Personal Finance
It's not even close! You'd probably need double that to have the same standard of living in NYC. You probably won't even be able to afford a parking space for your car in NYC on $50k. Both NYC and New York State have income taxes. Rents are insanely high, even in bad neighborhoods. Car insurance is ridiculous. Heating bills in winter will eat you alive. Many apartment buildings do not have AC and forbid window AC units because the electrical systems won't support the load.
BUT, West Palm doesn't have Broadway!
2006-06-25 07:47:02 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
NO, New York state has state income tax, plus a City income tax, plus a higher sales tax on all items. You avoid all of that in Florida. Salaries in NYC are higher than anyplace else to help offset the high cost of living there. In straight terms of money,
your take home in NYC would be lower than in West Palm.
---a former new yorker now living in Florida.
2006-06-25 09:25:24 · answer #2 · answered by rpf5 7 · 0⤊ 0⤋
No nearly the same after taxes and cost of living. 50K in NYC is much less and just above poverty line for that area.
2006-07-01 22:19:04 · answer #3 · answered by CrzyCowboy 4 · 0⤊ 0⤋
Good afternoon. :)
Here is a site that I have used when I moved from state to state. It is really accurate. It is a cost of living comparison calculator. What I did to see the difference was entered say like $100,000 yearly salary and then it would give me what I would have to make in the state that I was moving. Good luck and you have a great day. :)
http://www.bankrate.com/brm/movecalc.asp?a=0&d1=100000&d2=93.2605466531586&d3=102.427154915019
2006-06-25 07:30:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
my mom's friend lives in nyc. she lives alone, her rent is around 2000$/month for a one bedroom apartment. that's 24,000 off your 50k right there. in florida you could easily afford a house for half of that. and mortgage interest is tax deductable. but if you live in nyc you don't need a car. it's a lifestyle choice much as anything
2006-06-25 07:21:32 · answer #5 · answered by NONAME 1 · 0⤊ 0⤋
nope florida doesnt deduct state taxes from earnings but new york does, so you will be recieving less
2006-06-25 07:21:50 · answer #6 · answered by dogman196 1 · 0⤊ 0⤋
I believe, yes. Florida and New York have the same currency..that is US currency.
2006-06-28 10:22:18 · answer #7 · answered by Anonymous · 0⤊ 1⤋
50k in FL is 70,211 in NY
2006-06-25 17:41:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Need more info to answer
2016-07-27 03:16:07 · answer #9 · answered by Juliet 3 · 0⤊ 0⤋
so happy that I found this question already answered! It is like you read my thoughts!
2016-08-23 00:31:52 · answer #10 · answered by lily 4 · 0⤊ 0⤋