Maine wage taxes.... (Portland, Freeport, Hope: mortgage, how much, house)

[Ptype]

Hello, My wife and I might be relocating to the Greater Portland Area within the next two months. Possibly working in the Freeport area but living south by Portland. Kind of quick but sometimes work and life sends you places unexpectedly. If anyone from there could answer some simple questions for me I would greatly appreciate it as I we are trying to figure a living budget. We have recently visited and loved it there.

A. How much percentage of our weekly wage should we expect to lose to taxes?


B. Should we plan on needing a truck for winter?


C. Does winter almost immobilize one to their house?


Thank you very much for any replies, we have done research on our own already but are trying to take in everything we can as any move to somewhere new is a big one.

[crb01]

A) I live and work as an Engineer in Southern Maine. State income tax takes
about 5.5% of my gross pay each week. Property taxes are what you
really need to look out for.

B) I have owned 2 wheel drive trucks all my life and the wife has always had
front wheel drive cars. Neither of us have ever gotten stuck in the winter.
A little weight and good tires are what you need.

C) It is very rare that you will be stuck in the house during the winter,
though sometimes it may be so cold that you won't want to go out. And
usually it's not the cold that gets you, it's the wind. You can withstand
surprisingly low temperatures so long as there is no wind.

Hope this helps.

[Ptype]

Thank you very much! It does..

[flycessna]

Maine income tax rate is 8.5% kicks in at 18000 income. Before that the rate varies from 2%+.

You do not need a four wheel drive vehicle, I do find it helps. After many years of driving 2 wheeled drive cars my lat purchase was an all wheel drive. I feel better when my wife and kids are out and about in the snow. And it does handle better.

As far as being stuck in the house it can be subjective. I definately agree that if it is brutal cold (wind chill ect) that would keep me in before the snow or even the dry cold. 15-30 as long as its not windy or humid is fairly comfortable.

Depending on where you are coming from you should be fine. Too me the most difficult time is March. your ready for spring but winter just wants to linger around. Just remember to "get out" and stay active. Maine has lots of winter activities.

[flycessna]

P.S. Portland's a great city!!

[crb01]

On income tax, the original question was:

"How much percentage of our weekly wage should we expect to lose to taxes?"

As a percentage, Maine takes 5.5% from me on a weekly basis. I assure you, I make over $18,000 a year. When I file taxes at the end of the year, with mortgage deductions and 3 kids and misc other things, I just about break even. Give or take $50.
The 8.5 % may apply if you had absolutely no deductions, including the dependent and "standard" deduction.

[flycessna]

Originally Posted by crb01

On income tax, the original question was:

"How much percentage of our weekly wage should we expect to lose to taxes?"

As a percentage, Maine takes 5.5% from me on a weekly basis. I assure you, I make over $18,000 a year. When I file taxes at the end of the year, with mortgage deductions and 3 kids and misc other things, I just about break even. Give or take $50.
The 8.5 % may apply if you had absolutely no deductions, including the dependent and "standard" deduction.

I'am not sure why there would be a problem in knowing what the actual "tax rate" is for maine. My answer was only to give him some factual info so he can have an idea of what the differance would be from where he is coming from. We might as well poll 100 people and get 100 different situations and then try and figure out an average. It's all subjective, maybe he doesn't have any children.........maybe he has ten

[forest beekeeper]

Ptype -

A. "How much percentage of our weekly wage should we expect to lose to taxes?"

Really also has a lot to do with your tax-planning and with-holding status.



B. "Should we plan on needing a truck for winter?"

No.

If you desired to earn a few extra dollars driving a blade and clearing people's driveways you could.



C. "Does winter almost immobilize one to their house?"

No.

In this area, the snow mobile trails are also a big deal. Highly organized and inter-connecting each community. Many of the properties that I looked at while shopping for land, had trails crossing them.

[flycessna]

Originally Posted by forest beekeeper

Ptype -

A. "How much percentage of our weekly wage should we expect to lose to taxes?"

Really also has a lot to do with your tax-planning and with-holding status.

I'll second that. Having had the chance to run my own business (investment properties) I have learned a great deal about taxes and in the end even though I haven't seen a tax I thought was fare I sometimes think the tax code was written for the self employed.

[WhoFanMe]

Hi Ptype -

A. I'm not a CPA and leave that to mine, so I can't help you there. Your future employer can help you design the correct withholding to come close to breaking even based on your expected exemptions, etc.

B. Depending upon your driving habits, or your need to shuttle kids, you may need to.

C. When there is a significant storm, most employers close or run on skeleton crews and advise their employees to stay home until the roads are clear. Most cities and towns do a good job, with downtown Portland being an exception.