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Author Topic: $125k after taxes, per state  (Read 1948 times)

nonobvious

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$125k after taxes, per state
« on: August 24, 2004, 06:32:13 PM »
Can be calculated via this link, ganked from the tangled thread they weave over at xoxohth:

http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp
"Flying is simple. You just throw yourself at the ground and miss."

nonobvious

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Re: $125k after taxes, per state
« Reply #1 on: August 24, 2004, 06:33:41 PM »
PS our nemeses have estimated that in NYC it works out to $60k after insurance, etc.
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M2

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Re: $125k after taxes, per state
« Reply #2 on: August 24, 2004, 06:35:39 PM »
hmm i hope that isn't right...

ocap8

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Re: $125k after taxes, per state
« Reply #3 on: August 24, 2004, 07:39:19 PM »
I dont know if the 60k is right, but I know if you live in NYC (maybe just manhattan, tho) you pay federal income tax, state income tax AND city tax...

dunson

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Re: $125k after taxes, per state
« Reply #4 on: August 25, 2004, 12:19:11 AM »
All five boroughs pay city tax, which sucks.  125K--->60K?  That seems like a bit too much, what factors does that figure consider? 

dsong02

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Re: $125k after taxes, per state
« Reply #5 on: August 25, 2004, 12:24:48 AM »
i work and live in the city.

ill proportion my paycheck based on filing with a single status:

i currently pay 44% in taxes (federal, state, local, fica, etc)...and this is pretty much the same tax bracket as someone who makes 125k

so for someone who makes 125k, they take home around 70k net.  this is before insurance.  if your firm pays insurance, then its covered.  if you have a contribution, then deduct.  also, if youre contributing to your 401k or retirement, then deduct. 

and for the 5 boroughs, yes, all of them pay city tax.  yonkers also pays yonkers municipality tax.

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M2

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Re: $125k after taxes, per state
« Reply #6 on: August 25, 2004, 12:28:34 AM »
Dsong... do u ever get sick of living here?

dsong02

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Re: $125k after taxes, per state
« Reply #7 on: August 25, 2004, 12:39:08 AM »
Dsong... do u ever get sick of living here?

be more specific:  nyc or lsd?
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thechoson

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Re: $125k after taxes, per state
« Reply #8 on: August 25, 2004, 07:47:26 PM »
You know, it's kinda sad, but 70k net in NYC is around 55k here in Los Angeles.

Now, let's say you have a family to support, and your wife doesn't work.  Plus you are paying student loans.  Well, you will probably live poorer than someone here in Los Angeles who has no student loans, has no family to support, and makes 30k right out of college.

Of course, your future is much brighter though. But still, it ain't gonna be easy.