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I have received an offer for a job in USA (Chicago suburbs). I want to take up this job for some years. I need some help with taxes, as I understand that taxes take out a huge chunk of one's salary in the US. This will help me to calculate how I can live there and also save.
I have received the offer for 98,000$ per year. Online take home salary calculators give varied responses about take home salary. I will be getting payed bi-weekly.
Can anyone help me with an estimate please about how much I will be taking home? Or which salary calculator is actually accurate? I have a wife and a child who will be my dependents. I don't plan on investing in 401K.
thanks everyone [LEFT]
It will vary. But in general income taxes in USA are less than in most parts of Europe. Your take home pay should actually be decent, at least in the near term, lol.
Health insurance is what you should be concerned about. Be sure to look into any plans offered by your employer and figure that cost in to the equation. Good luck in Chicago!
I have received an offer for a job in USA (Chicago suburbs). I want to take up this job for some years. I need some help with taxes, as I understand that taxes take out a huge chunk of one's salary in the US. This will help me to calculate how I can live there and also save.
I have received the offer for 98,000$ per year. Online take home salary calculators give varied responses about take home salary. I will be getting payed bi-weekly.
Can anyone help me with an estimate please about how much I will be taking home? Or which salary calculator is actually accurate? I have a wife and a child who will be my dependents. I don't plan on investing in 401K.
thanks everyone [LEFT]
[/LEFT]
Each paycheck will likely be $2200 - $2800 depending upon tax witholding options chosen. I do not know what differences to expect for someone not a citizen or being funded from another country but do not think it will be too much different.
I'm no expert, but I don't think you need to pay social security and Medicare, people who do your tax probably will treat you as everybody by default. But if you want, you really don't need to pay SS and medicare, you can save some serious cash by opting out.
I'm no expert, but I don't think you need to pay social security and Medicare, people who do your tax probably will treat you as everybody by default. But if you want, you really don't need to pay SS and medicare, you can save some serious cash by opting out.
This is definitely news. Would appreciate some links. I know that you could transfer SS credits to home country (if your country is part of the treaty), but not sure if there are options for medicare.
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