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Old 07-01-2017, 08:40 AM
 
Location: MD(Montgomery County)
49 posts, read 44,193 times
Reputation: 21

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I am single 23 and I make 42k a year when i could be making 51-53k a year but due to taxes i lose about 1k-1.3k every month . Please someone help me. I want to keep more of my money and give less to the government in taxes . I live in montgomery county.
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Old 07-01-2017, 09:39 AM
 
Location: The Triad (NC)
26,871 posts, read 57,924,091 times
Reputation: 29301
Quote:
Originally Posted by helpmeout1 View Post
I want to keep more of my money and give less to the government in taxes.
Poor baby. How much of your GROSS do you put into pretax retirement plans etc?

Net-to-gross paycheck calculator
Income tax on 52,000.00 USD | Maryland | United States
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Old 07-01-2017, 10:17 AM
 
4,110 posts, read 1,722,987 times
Reputation: 11597
Quote:
Originally Posted by helpmeout1 View Post
I am single 23 and I make 42k a year when i could be making 51-53k a year but due to taxes i lose about 1k-1.3k every month . Please someone help me. I want to keep more of my money and give less to the government in taxes . I live in montgomery county.
Lol. Welcome to adult life.
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Old 07-01-2017, 02:43 PM
 
Location: MD(Montgomery County)
49 posts, read 44,193 times
Reputation: 21
This is my last month pay. Its so sad to see that money I can't spend.
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Old 07-01-2017, 03:19 PM
 
Location: North Beach, MD on the Chesapeake
32,116 posts, read 39,212,961 times
Reputation: 40582
Since you're in Montgomery County, how do you like your elected officials at all levels now? Those special programs worth it now?

Your deductions are in the ballpark for your filing status, maybe even a bit low.

As was mentioned, welcome to working adulthood.
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Old 07-02-2017, 11:41 AM
 
Location: todo el mundo!!
1,563 posts, read 943,524 times
Reputation: 1176
Quote:
Originally Posted by helpmeout1 View Post
I am single 23 and I make 42k a year when i could be making 51-53k a year but due to taxes i lose about 1k-1.3k every month . Please someone help me. I want to keep more of my money and give less to the government in taxes . I live in montgomery county.
move out of moco and get used to it. its the life
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Old 07-02-2017, 11:42 AM
 
Location: todo el mundo!!
1,563 posts, read 943,524 times
Reputation: 1176
Quote:
Originally Posted by helpmeout1 View Post
This is my last month pay. Its so sad to see that money I can't spend.
yah cry allay its not changing lol
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Old 07-02-2017, 11:54 AM
 
35,121 posts, read 37,842,380 times
Reputation: 61845
OP, find a financial advisor or a tax attorney who can help you with this issue. You can get all of your questions answered and make future financial plans.
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Old 07-02-2017, 11:58 AM
 
Location: North State (California)
28,328 posts, read 2,204,593 times
Reputation: 9908
If they offer a 401 use it, but remember that money is for the retirement, & not to be pulled out any time you want a new toy.
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Old 07-05-2017, 12:01 PM
 
1,645 posts, read 1,464,406 times
Reputation: 1882
Quote:
Originally Posted by helpmeout1 View Post
This is my last month pay. Its so sad to see that money I can't spend.
Why do you claim zero allowances? You're simply giving Uncle Sam an interest-free loan before receiving a large check back in April. Much of the rest you'll receive back in SS and Medicare benefits.

No one making $50K in the U.S./MD/MoCo should be complaining about taxes. You're paying far below the mean tax bill at every level of government. Definitionally, you're not carrying your own weight. Which isn't problematic, except that you're complaining about it. You're making us Millennials look bad.
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