2007-03-17 06:43:07 · 10 answers · asked by rgnazn0104 1 in Business & Finance ➔ Personal Finance
It depends on how many deductions you took on your W-4, what your state income tax deduction is, whether insurance is being deducted, whether you have 401k money being deducted.
Even if you forget the insurance and 401K monies, you still need to know how many deductions you took and what your state tax is.
I'm posting a salary calculator that should help you figure it out based on your own situation.
2007-03-17 06:48:30 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
Do you contribute significantly to your church or 501(c)3 charity?
Are you buying a house where you pay interest to a mortgage?
Do you contribute to a 401(k) plan or tradiional IRA?
Do you make health care and other benefits through a 125 Plan (sometimes called a cafeteria plan)?
All of these factors influence your take home pay (or more correctly the amount of deductions you should claim on your W-4).
You could get your take home pay to approximately $75,000 after state, federal, FICA, etc. But it could be as little as $60,000.
To many factors to give a definitive answer.
2007-03-17 08:09:54 · answer #2 · answered by Remember Back 3 · 0⤊ 0⤋
I do not see you having a problem getting a mortgage on a 300,000 home with 100,000 down. If you have good credit and you are putting 33% down your monthly payment would be about $1250.00 a month for principle and interest. Since you alredy own your own home, you can pretty much calculate the other costs of owning a home ( But dont forget to add about 10-20% to cost of EVERYTHING here on the east coast.)
2016-03-16 22:01:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
That can't be answered without knowing the number of dependents and marital status. With absolutely no deductions or exemptions the federal tax is about 35%. It will actually much less. Then there is state tax, social security, medicare, disability insurance, and any optional benefits at work.
2007-03-17 06:48:39 · answer #4 · answered by Barkley Hound 7 · 0⤊ 0⤋
depending on the state...
Federal income tax would be appx 35%
State income tax could be 0% (Texas) or could be over 20%...
So take home could be $65,000.... could be under $45,000
In some states, taking property taxes, sales taxes, car licence.... and all other taxes into account, $100,000 income could mean you are paying over $70,000 in taxes. Welcome to the US middle-class.
2007-03-17 06:50:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Figure $7000 for social security, $5000 for state income tax, and another $25,000 for federal income tax.
That nets you about $63,000 per year net take home.
2007-03-17 06:52:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It all depends on a lot of factors but for a general analysis it carries a 39% taxation!
2007-03-17 06:52:18 · answer #7 · answered by Anonymous · 0⤊ 0⤋
In the $60 K area give or take depending upon your location. I say this only for the USA. : ) Not familiar with any other country's tax practices.
2007-03-17 08:29:40 · answer #8 · answered by Kitty 6 · 0⤊ 0⤋
That's an interesting question
2016-07-28 09:47:55 · answer #9 · answered by ? 3 · 0⤊ 0⤋
It depends..
2016-08-23 21:25:05 · answer #10 · answered by Anonymous · 0⤊ 0⤋