are these salary figures accurate?

[rh71]

based on a calculator...

annual gross 60k = ~4300/mo. net
annual gross 70k = ~4900/mo. net
annual gross 80k = ~5500/mo. net
annual gross 90k = ~6200/mo. net
annual gross 100k = ~6800/mo. net

I know there are other personal monthly deductions (hold backs for tax reasons), but I just wanted a general picture of how much my monthly income would increase if I found another job... hopefully you guys can tell with your real world examples.

 

[tfinch2]

Single? Married filing joint?

 

[GagHalfrunt]

You're WAY off. 6,800K a month is take home of more than 81% of your salary. Single even without state income tax you're going to lose at least 35% of your income, probably closer to 40%.

100K gross will work out to less than $5k month net

 

[Lifted]

based on a calculator...

annual gross 60k = ~4300/mo. net
annual gross 70k = ~4900/mo. net
annual gross 80k = ~5500/mo. net
annual gross 90k = ~6200/mo. net
annual gross 100k = ~6800/mo. net

Taxes and FICA would leave you with around 75-80% of the figures you have calculated. I live in NYC, so while you may not pay as high of a city/local tax living in LI, real estate taxes will make up the difference and then some.

Edit: This site came out to within $30 of my actual paycheck. If the site is correct, I'm due an $800 refund next year.

 

[tfinch2]

100K gross will work out to less than $5k month net

60% take home for 100k? I think it's a fair bit more than 5k.

 

[Blieb]

This formula works better ...

SALARY X .75 / 12 = TAKEHOME

 

[tfinch2]

Edit: This site came out to within $30 of my actual paycheck. If the site is correct, I'm due an $800 refund next year.

Just tried the site and it is pretty accurate.

 

[NL5]

60% take home for 100k? I think it's a fair bit more than 5k.

LOL. I see what you did there.....

 

[NutBucket]

This topic is about as useful as comparing car insurance rates.....

 

[vi edit]

In IL filing 1 - Single you'd net about $2770 a paycheck every two weeks...or 5540 on most months. Two months a year you'd get an extra check. My wife makes well over $100k a year and the paychecks aren't as big as you'd think. Especially once health insurance, 401k, and daycare come out.

 

[mugs]

Your numbers look pretty accurate for my salary.

Maybe slightly high.

 

[Dr. Zaus]

This topic is about as useful as comparing car insurance rates.....

This was a crazy valuable link:

http://www.surepayroll.com/calculator/calc_paycheck_netpay.asp

now you can compare both cost of living and cost of taxing.

btw looks like you take home an extra ~$500/ month living in Florida than California at 100k/y.

 

[Sluggo]

Government shore takes a bite don't she?

 

[GagHalfrunt]

60% take home for 100k? I think it's a fair bit more than 5k.

What you think in your tiny little mind is irrelevant. The numbers OP posted represent 81%+ takehome pay and that is not even CLOSE to being accurate.

Federal tax rate for 100K is 28%
Social Security is 4.x%, i don't remember.

So best case scenario is that you take home about 67%.

Does OPs state have a state income tax? On 100K that could tack on 2% to as much as 10% depending on the state. Is OP contributing to his own health care plan? That's another bite. It EASY to make less than 60% take home and if you think otherwise you clearly have never held a job higher than fluffer.

 

[rh71]

kinda crazy that you could take on a job with more stress & inconveniences at +$20k gross more than current, and only actually take home $800 more a month.

 

[hiromizu]

Ours is less because not only do we have to pay higher state income tax, we also have NY City tax. Add that to the above average living costs and it's pretty much amazing here. You'd be lucky to yield 4k on 75k salary.

 

[mugs]

What you think in your tiny little mind is irrelevant. The numbers OP posted represent 81%+ takehome pay and that is not even CLOSE to being accurate.

Federal tax rate for 100K is 28%
Social Security is 4.x%, i don't remember.

So best case scenario is that you take home about 67%.

Does OPs state have a state income tax? On 100K that could tack on 2% to as much as 10% depending on the state. Is OP contributing to his own health care plan? That's another bite. It EASY to make less than 60% take home and if you think otherwise you clearly have never held a job higher than fluffer.

No... 28% is the marginal tax rate, and you need to at least include the standard deduction.

Assuming standard deduction, the tax owed on $100k for a single filer would be $19993 by my calculation, so right about 20%. Add in state and social security and it's probably around 30% total, not 40%.

IIRC the OP is married with kid(s), so his numbers may be factoring that in. That would explain why they're a bit high.

 

[RockinZ28]

Don't come to CA, it's ~$800 less net income per month than your calculations, starting at 60k. Even more the bigger your income. Not including health insurance, 401k, etc.

 

[Dr. Zaus]

Mugs is right

Ours is less because not only do we have to pay higher state income tax, we also have NY City tax. Add that to the above average living costs and it's pretty much amazing here. You'd be lucky to yield 4k on 75k salary.

According to the calculator 4.4k is the take-home for a single person making 75k. You take home 4.7 in Florida/Texas.

That said I find it highly unlikely that you'll be making anything near 75k in Florida or Texas if your working in New York City making only 75k.

 

[hiromizu]

Mugs is right


According to the calculator 4.4k is the take-home for a single person making 75k. You take home 4.7 in Florida/Texas.

That said I find it highly unlikely that you'll be making anything near 75k in Florida or Texas if your working in New York City making only 75k.

Well..who the heck would want to live in Texas or Florida?

 

[Dr. Zaus]

Well..who the heck would want to live in Texas or Florida?

I like the beach and I hate snow.

 

[Specop 007]

Theres a huge difference between taxes withheld and total deductions on a paycheck.

Those numbers seem to be somewhat accurate if you dont have any voluntary deductions such as 401k, insurances etc etc.

 

[tfinch2]

What you think in your tiny little mind is irrelevant.

:confused;

My base salary is right around 100k. After federal withholding (ss, fica, etc), 10% for 401k, 10% for ESPP, and benefits for my family, my monthly take home is way over $5k.

So please feel free to continue to act like a dipshit, dipshit.