When you see a job that say is like $40,000 a year, is that before or after taxes are taken out?? If it is before how much taxes are going to be taken out??
2007-03-26 06:24:55 · 6 answers · asked by Jealous?? 2 in Business & Finance ➔ Careers & Employment
The salary amount listed in job ads is the gross amount (before taxes). Your actual take home pay or net amount depends on how many exemptions you take on your W-4.
So a $40,000 year job on 24 payment cycles might net you $30,400 or $1,266.67 each pay period (based on a 76% tax rate). However your actual net income may be reduced further depending on pre-tax deductions like - health insurance, life insurance, dental ,vision, 401K, etc.
I hope this helped.
2007-03-26 06:32:12 · answer #1 · answered by Tim S 1 · 0⤊ 0⤋
That is before taxes. Tax liability is different for each person, depends on married or single, buying home or renting, a lot of things. Typically, the bring home on 40,000. for a single person with nothing but the standard deduction, after state, federal, medicare and FICA taxes would be around 29,000. to 31,000.
2007-03-26 13:34:29 · answer #2 · answered by dwforce 3 · 0⤊ 0⤋
It is before taxes.
What is taken out depends on what you claim on your W4 and the state that you are in. A rough estimate is that 1/5- 1/4 will go to taxes.
2007-03-26 13:33:54 · answer #3 · answered by Vegan 7 · 0⤊ 0⤋
That is before taxes. How much taxes are taken out is dependent upon how you fill out your W2 form.
2007-03-26 13:33:08 · answer #4 · answered by quortnie11 3 · 0⤊ 0⤋
That is before taxes.
As far as how much, it really depends on what state you live in, what occupation you're in, and what employer benefits are involved. Basically its a whole lot of variables involved.
2007-03-26 13:33:19 · answer #5 · answered by TDK 6 · 0⤊ 0⤋
that is before taxes and insurance
2007-03-26 13:35:36 · answer #6 · answered by MJ 3 · 0⤊ 0⤋