How do you keep track of how much big raises really add?

[Engineer]

over $5k?

Oh, sorry. Forgot that everyone on ATOT get $5k+ raises regularly. Won't forget again! :thumbsup:

Think I finally understand what you are asking for. You want to know how much your check will gain on a bi-weekly basis if you get a gross raise of $5,000 per year and you contribute 5% to 401k.

That would, as others have stated, depend heavily on your tax bracket and filing status. Also depends on whether it throws you into next tax bracket.

 

[Elbryn]

5000-5% 401k=4750.
4750 times your expected tax rate, divide by 26. viola?
so you're in the 30% bracket, add in state and other junk. say it's more like 40% after all that
gets you about 110 bucks per paycheck.

 

[Elbryn]

also if you're estimate's are usually low, why not add 20 bucks to your estimate? its not like your range is going to be that wide on the 5k raise.

 

[arcenite]

I generally just do... Paycheck / Old Yearly Salary = X%...and then... New Yearly Salary * X%..gets me close enough for rock and roll

Edit: Oh and, obligatory 5k = big raise?

 

[sdifox]

just use 50 weeks...

 

[alkemyst]

If you give us how often youre paid and what tax bracket youre in, we could tell you and you wouldnt need to find a calculator 😛

yeah...my SS# too next.

Trust me, you are the wrong tool for this job. I can do the math myself, but just always usually come up a bit short. I am thinking this time the estimate I made will be accurate though.

 

[alkemyst]

Edit: Oh and, obligatory 5k = big raise?

no.

 

[alkemyst]

also if you're estimate's are usually low, why not add 20 bucks to your estimate? its not like your range is going to be that wide on the 5k raise.

Yeah, but I have jumped five figures at times. I am just trying to get to a baseline that most wouldn't cry about I am bragging, yet some did.

 

[blackangst1]

yeah...my SS# too next.

Trust me, you are the wrong tool for this job. I can do the math myself, but just always usually come up a bit short. I am thinking this time the estimate I made will be accurate though.

Trust me, there is no good tool for this job. Your OP is too vague. I am the right tool if given the proper information. I understand you not wanting to. Just dont expect reasonable answers from a vague question.

 

[alkemyst]

Your OP is about as clear as mud.

you so trolling!

 

[nanette1985]

I would ask my accountant. That's what i pay them for. I'd get a much more specific answer than some random but well-meaning dudes on an internet forum.

 

[Engineer]

you so trolling!

No I'm not (other than maybe the "Brag thread" post). I did not understand your OP until much later (see my very post on this page you arrogant ass). Fine, just figure the fucking thing out yourself or just wait until you get your next fucking check.

 

[brblx]

durr i make too much money to learn math

 

[her209]

There's too many variables.

Let's assume the 5% of the $5k was being put into the 401(k) plan. That's $250.

Then you have payroll taxes.

Then you have state and federal tax withholdings and that's based on the number of exemptions you've claimed.

etc.