I have just graduated from college and gotten a job w/a 28,000 salary. I am still living w/ my mom and have no dependents. Can someone estimate how much I will have after taxes?
2006-09-05 07:25:19 · 17 answers · asked by andriana799 1 in Business & Finance ➔ Personal Finance
good question
2006-09-05 07:26:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You would be in the 30% bracket for taxable income. Meaning that you will pay out 30% of your wages in taxes. If you are paid a weekly salary from and your taxes have already been "garnished" or deducted from your checks--you will not be required to owe. You may even receive a return.
If you have a job which pays you in cash, and you have not had taxes taken out, you will owe 30% of net income. From $28,000, that's roughly $8,400 you will be required to pay Uncle Sam. Leaving you with $19,600.
Be sure to deduct any/ as many expenses from your income as you can get away with. This means the gas used to get to work, any uniform you may have purchased (gymshoes for waitresses), work supplies ect. The more you deduct for expenses that you've paid, the less you will dish out to the IRS.
2006-09-05 07:39:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
usually around 25-30% is taken out for taxes so you will take home about $20,000...but don't forget you will have your tax returns
about $420 a week
for future reference take total wages (28,000) divide by # of months (12) divide by # weeks in a month (4) equals the amount per week.
Multiply the amount per week by .25 equals the amount taken out for taxes...subtract that from weekly amount and that will be your take home pay.
2006-09-05 07:42:07 · answer #3 · answered by starr 1 · 0⤊ 0⤋
That's about what...540 a week? So your take home per week would be about 470 or so, in a month you'd make 1880. A year that would be 22560. So roughly you would pay in taxes 5440, give or take a few dollars. That depends if you don't have to pay State taxes, which I don't ,and I wouldn't know how to guesstimate like I can for Federal taxes.
2006-09-05 07:30:30 · answer #4 · answered by morningstar 3 · 0⤊ 1⤋
Don't forget you have Insurance and other benefits that will also come out of your check but after just after the taxes and no benefits and no insurance you will make aprroximately $920 per check but with insurance and benefits that will depend on what insurance and how much benefits you have coming out.
2006-09-05 07:34:30 · answer #5 · answered by bucksolutions1 2 · 0⤊ 0⤋
The 2/3 rule is usually pretty accurate...but its safe to say you'll take home about 67-70% of your pay check.
2006-09-07 03:11:44 · answer #6 · answered by Ty_Webb 2 · 0⤊ 0⤋
well look at ur take home pay each week and times that by 52. wow that was hard. wow only 28,000 and just graduated from college. another liberal arts major lol
2006-09-05 07:29:24 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Schedule X — Single
If taxable income is over-- But not over-- The tax is:
$7,550--$30,650 ; $755 plus 15% of the amount over 7,550
2006-09-05 07:35:34 · answer #8 · answered by Chris S 2 · 0⤊ 1⤋
If you were paid biweekly (every other week, 26 checks per year) you would gross 1076.93 per check. Federal witholding tax is 131.00 and FICA (social security and medicare) is 82.39, leaving a net check every two weeks of 863.61 or 22453.86 annually. THIS ANSWER DOES NOT TAKE INTO ACCOUNT STATE INCOME TAX WITHOLDING. Subtract state witholding tax from your net check.
2006-09-05 07:34:25 · answer #9 · answered by hirebookkeeper 6 · 0⤊ 1⤋
$19,600. That's 2/3 of your gross pay. About $1,633 per month after taxes. About $400.00 per week.
2006-09-05 07:28:22 · answer #10 · answered by Anonymous · 0⤊ 0⤋
depends on the state u live in and how often you get paid and the amount of deponents that you claim
2006-09-05 07:26:49 · answer #11 · answered by ? 4 · 0⤊ 0⤋