taxes in maryland (rent, houses, employment)

[werdna35]

I accepted a pre-offer of employment in columbia, md and I am trying to determine what my pay would be after taxes so I know what kind of rent range I should be looking in, as well as I just like to know these things. Does anyone have any information or methods in which to calculate this?

Thanks!

[MrRational]

Maryland Tax Information - Employer Withholding

In general, people who have to worry about such things can rarely afford to live in HoCo.
Plan to commute which means you MUST have a car.

[goldenage1]

This could have been googled easily. But the short story is most people (making between 3K and 150K) pay $90 plus 4.75% of the excess over $3000. Then you would add on 3.2% if you live in Howard or Montgomery Counties, or other rates according to this table: http://individuals.marylandtaxes.com...x/localtax.asp

[smitity]

The state actually has a useful calculator for your state taxes, and it accounts for your county tax too. It's meant for people who have to pay quarterly (e.g. no money taken out of their paycheck), but it can give you an idea of the hit you'll take. This doesn't include federal taxes, so you'll need to factor that in on your own, I think the IRS has a calculator for that.

https://interactive.marylandtaxes.co...502for2012.asp

[SunnyTXsmile]

Others have posted great links. My personal rule of thumb, is about 25% (total fed, state, ss, etc) out of pay after 401(k) is deducted. It's usually actually around 22-23% when all is said and done, but I typically round up to 25% to make the mental math easier. Just my personal 20 years of experience based on my own numbers, for what it's worth.

[Chris-Kim]

All I can say is I'm paying more taxes in MD than I did in NY. And yet public services of MD are worse than those of NY.

[Henry Bowman]

Once the current governor gets done with us, we'll be paying much, much more across the board.

[somsense]

To be honest, you might want to take a really good look at the cost of living in the Howard County and Md in general. My husband worked in HoCo for 30 yrs, yet we could never really afford to live there. We lived in Carroll Co. and then moved out toward Western Md. At this point my whole family (us and our two grown sons and their families) are moving out of Md completely. No matter where you live in Md the taxes, fees, regulations and cost of living are making it very undesirable to live here. Our houses are on the market and as soon as they sell we are gone to a more tax and business friendly state. We have done our research and find a number of other states and cities which are so much more appealing and affordable to live. MD- I'm done with you.

[nurider2002]

Also, you can anticipate an increase in property taxes next year. Even with the recent special session raising income tax, Maryland continues with a structural deficit of 1/2 billion dollars. Next year their only option will be property tax increase. Delaware and Tennessee are looking better to me each day.

[tdsw21]

These responses are somewhat scary for someone like myself who is planning on relocating this summer because of my job