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Old 12-06-2007, 11:52 AM
 
4 posts, read 15,278 times
Reputation: 15

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What will my net income be in Orlando? I need to know how much is going to be left after taxes, ss,and medical insurance.I have a job offer of 47,000.

Last edited by regiely; 12-06-2007 at 12:55 PM.. Reason: more appealing title
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Old 12-06-2007, 12:52 PM
 
Location: Orlando FL
1,065 posts, read 4,132,182 times
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Well, There are no state or city income taxes, so you only have to deal with federal income, FICA, and SS taxes. Check IRS.gov for that. As for medical insurance, I"d beleive it's the same here as anywhere else, check with your insurer.

Auto insurance tends to be slightly higher than some other area's of the country, but that depends on your driving record and where you are coming from. If you by a home, you will have property taxes, but again, that is optional, nobody has to buy property.

Other than that I don't think anyone on this forum can tell you what your net will be. Might want to call up your CPA, your insurers, and maybe ask questions on local living costs.
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Old 12-06-2007, 01:08 PM
 
Location: Sanford, FL
732 posts, read 4,148,434 times
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Considering more then half of Orlando makes about $24,000 you'll do fine. $50,000 a year is considered rich here, and you become a millionaire if you have a dual income.
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Old 12-06-2007, 02:55 PM
 
Location: Boston (North End)
143 posts, read 649,816 times
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Quote:
Originally Posted by Fnix View Post
Considering more then half of Orlando makes about $24,000 you'll do fine. $50,000 a year is considered rich here, and you become a millionaire if you have a dual income.
HA! Probably the truest words ever written here!

OP - Go here to figure out the effect(affect) of Fed. Taxes on your paycheck:

Payroll-Taxes.com - Paycheck Calculators

The only thing that will be higher than normal will be your property tax/insurance. Poeple complain about cost of living, but its really not that high. It only seems higher becuase the average wage here is lower thanks to our service based economy. You shoud be fine. I'm only making about 46K right now, and I do alright.
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Old 12-06-2007, 03:09 PM
 
169 posts, read 653,775 times
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50K may be considered rich, if you have a cheap rental in a nice area. Try making 50K a year and buying a house in a crime free area with a reasonable commute. It is not going to happen as crime, property taxes, road congestion, and homeowners insurance are skyrocketing off the charts.
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Old 12-06-2007, 04:42 PM
 
Location: Sanford, FL
732 posts, read 4,148,434 times
Reputation: 405
If you're single you can get a 1 bedroom apartment in really nice area for 50k.
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Old 12-06-2007, 07:18 PM
 
91 posts, read 494,852 times
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wow, I'm above rich now. I'm telling the wife and kids.
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Old 12-06-2007, 10:08 PM
 
Location: Orlando... FL?
123 posts, read 133,013 times
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Quote:
Originally Posted by kinglouix View Post
50K may be considered rich, if you have a cheap rental in a nice area. Try making 50K a year and buying a house in a crime free area with a reasonable commute. It is not going to happen as crime, property taxes, road congestion, and homeowners insurance are skyrocketing off the charts.


Agree with King Louix on this one. Usually, I feel like you may be a little over the top, but this is right on. My wife and I make over 100k combined, and we dont have a lot of spending money. We have some, yes, but not a lot.
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