Asian relocating to San Jose?

Question

I just got an offer to be relocated to San Jose but is rather worried about the cost of living and working lifestyle there. Can anyone advise
1. What are the applicable taxes and deductions? I am quite lost with the number of taxes.
2. What is the rental range of an accomdation?
3. I heard definitely require a car to commute?

Answer 1

I live and work in the San Jose area. Your federal income tax will depend on your income 25% to 40%, the state income tax is as high as 11%, and then ther are other taxes, so you could take home only about 60% of your pay. Rents are high. $1,500 to $2,500. There is public transportation available. Light rail, bus, train. Some companies have excellent communter programs and send shuttles to the bus or train stations. But most people rely on cars to get around.

Answer 2

1. Rents are very expensive, expect to pay $2000/month for anything decent near the city.

2. Taxes are as such:
Federal Income Tax will take about 25% of your salary
State Income Tax will take about 6% of your salary
Mandatory insurance (FICA, Medicare, SDI) will take another 9% or so.
Income taxt rates are progressive (go up with income) but these are average for a $100K salary.

You can decduct your state income tax from your federal income tax, but other than that deductions are minimal for unmarried people without a mortgage.

3. A car is absolutely required anywhere in California.

Hope this helps!

Answer 3

Check it out on line. Check the rent in San Jose online. All the answers to your questions is on line better than here in yahoo. People will help you sure...but it is much easier to tap into San Jose through your browser and hit the city guy!! Thats what I would do.