if my wife and I are making a combined $90k a year and I live in California, how much would we pay in taxes?

Question

i am talking about both california and federal tax combined.

Also, how much is property tax in california and how do you subtract the appropriate amount from your income tax to see how much you will really have after everything?

thanks!

Answer 1

Not possible to say with that limited amount of information. Many factors go into figuring your tax liability.

Your property taxes are on the tax bill you got from the city or county. In CA it's about 1.25% of the purchase price although limited annual increases are allowed.

Answer 2

Should be just under 2/3 rds of that number. If you are coming to town with $200K or so in your back pocket you can worry about taxes... Otherwise, you will be renting.