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Old 02-11-2011, 05:45 PM
 
95 posts, read 253,546 times
Reputation: 29

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I am trying to figure out how much tax one pays in Atlanta. The example I am using is: single person, $50,000 gross salary, 1 job, no dependents, no withholding allowances. But I get wildly different answers on these websites:

1. "The Beehive"
Take Home Pay Calculator | The Beehive - Georgia (http://ga.thebeehive.org/money/pay-taxes/take-home-pay-calculator - broken link)
Net salary: $42,358.00 per year

2. "Sure Payroll"
Salary Paycheck Calculator - Payroll Calculators | SurePayroll
Net salary: $36,403.00 per year

Maybe someone can explain which is correct ?

Last edited by toxicdebt; 02-11-2011 at 05:54 PM..
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Old 02-12-2011, 06:55 AM
 
2,685 posts, read 6,044,657 times
Reputation: 952
#2 is a little low. Your probably looking at around $40k, assuming no 401k deductions but if you go with either no allowances or 1 you may have much more withheld and then get it back when you file your taxes.

If you claim 2 exemptions as allowed on the W4 for a single person you'll probably be looking at around $40k.

Quote:
Originally Posted by toxicdebt View Post
I am trying to figure out how much tax one pays in Atlanta. The example I am using is: single person, $50,000 gross salary, 1 job, no dependents, no withholding allowances. But I get wildly different answers on these websites:

1. "The Beehive"
Take Home Pay Calculator | The Beehive - Georgia (http://ga.thebeehive.org/money/pay-taxes/take-home-pay-calculator - broken link)
Net salary: $42,358.00 per year

2. "Sure Payroll"
Salary Paycheck Calculator - Payroll Calculators | SurePayroll
Net salary: $36,403.00 per year

Maybe someone can explain which is correct ?
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Old 02-12-2011, 11:36 AM
 
95 posts, read 253,546 times
Reputation: 29
On the 2nd one I put the following federal and state allowances:

Federal Allowances on form W-4
Enter “1” for yourself if no one else can claim you as a dependent
Enter "1" if You are single and have only one job;
Total = 2

Personal Allowances on Georgia form G-4:
Single - enter 1 if you are claiming yourself
Total = 1

Thats brings it to: $38,415.00, but still a 4000 dollar difference.
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