I just returned to the US after twelve years abroad. I'm trying to work out a budget but don't quite understand how much money I'll have to work with.
2007-05-01 23:24:32 · 3 answers · asked by smash 3 in Business & Finance ➔ Taxes ➔ United States
That will depend upon way to many variables to make any kind of meaningful estimate. Go here for some handy estimators: http://www.paycheckcity.com
2007-05-02 01:02:26 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Without knowing your total income, and how many allowances you're claiming on your W-4 form, that's not possible to answer, since tax rates go up with income for both federal and CA. The W-4 is a form that you'll fill out for your employer that will control how much to deduct - allowances on it can be for dependents but also for many other reasons.
If you'll post again with more info, including expected income, marital status, number of dependents, someone might be able to give you a better answer. Would also need to know expected itemized deductions - with the price of housing in CA, if you own a home, you'll likely get some help there.
2007-05-02 09:26:51 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
75 to 85 percent, depending on you earnings and tax write offs, including fed and state taxes.
2007-05-02 06:35:22 · answer #3 · answered by 1000 Man Embassy 5 · 0⤊ 1⤋