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1st job ? on taxes and annual salary

dillow 20 June 21, 2012 at 12:17 AM
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I start next month
how much is $60,000/annual salary after taxes?

36 Comments

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#2
Depends on your state... I use this .. it's pretty accurate

http://www.paycheckcity.com/coint...ulator.asp
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#3
Quote from dillow View Post :
I start next month
how much is $60,000/annual salary after taxes?

About $35,000.00! nod
Last edited by MikeBear June 21, 2012 at 03:46 AM
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#4
depends on a LOT.
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#5
With no deductions, fiure 70% of that.
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#6
Yeah, Its really hard to say. Filing married/single for state? married/single for federal? any dependents? 401k deductions? health insurance deductions? life insurance deductions?

Generally single for everything and no deductions is about 70% so 60k/52 weeks = 1154 /week x 70% = ~800 /week
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#7
I just started and am making that much. With health, 401k until match, dental, vision, life, long term disability, taxes (in MA) and stock purchase plan I come home with 1322 biweekly. Now an extra 230$ is going to a stock purchase plan so i will be able to use that in the near future but I like to ignore it Wink
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#8
Quote from dealz2012 View Post :
I just started and am making that much. With health, 401k until match, dental, vision, life, long term disability, taxes (in MA) and stock purchase plan I come home with 1322 biweekly. Now an extra 230$ is going to a stock purchase plan so i will be able to use that in the near future but I like to ignore it Wink
There you go. I hit it almost exactly with my $35,000 post above!

Terrible how much everything sucks out of your check before you even get it, isn't it? Then you get the joys of paying day to day bills, and that adds up to even more sucked out of it.
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#9
Quote from Sagi View Post :
Depends on your state... I use this .. it's pretty accurate

http://www.paycheckcity.com/coint...ulator.asp
Really good calculator!
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#10
Quote from BayArea View Post :
Really good calculator!
Yes, it was fairly accurate for me.
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#11
appreciate all the suggestions guys....$60,000 seems pretty low Frown
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#12
Since I'll be doing consulting I believe my tax would be different
I think I'll just ask HR
Last edited by dillow June 27, 2012 at 02:04 AM
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#13
Quote from dillow View Post :
appreciate all the suggestions guys....$60,000 seems pretty low Frown
Depends on where you live, really
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#14
Quote from MikeBear View Post :
About $35,000.00! nod
Iagree
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#15
As a entry level employee $60,000/annual salary after taxes is quite reasonable.Let's see how it boost up with the experience grow.
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