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Old 12-10-2011, 06:29 PM
 
Location: West Hollywood, CA
1,367 posts, read 1,843,527 times
Reputation: 1819

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How much am I looking to pay in total taxes?

1. I'm 25, single, no kids
2. I would make 80k/yr
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Old 12-11-2011, 04:08 PM
 
Location: near Paris france
46 posts, read 168,218 times
Reputation: 47
Default taxes for income

80 000 year gross

taxes is 36 %

so it will be 51200 maybe less or a little more

sorry it's expensive
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Old 12-11-2011, 05:33 PM
 
4,266 posts, read 9,024,292 times
Reputation: 3262
Quote:
Originally Posted by YoungTraveler2011 View Post
How much am I looking to pay in total taxes?

1. I'm 25, single, no kids
2. I would make 80k/yr

If you do not itemize(ie you just take the standard deduction), Federal taxes are the same as they are anywhere else. I would expect to pay $12-16K in federal income tax if you do not itemize and the variance depending on if you contribute to a pre tax retirement plan(Which is not taxable).

For state taxes, expect to pay around $5-6K for the same situation.

So $17-22K in annual income tax for a single California resident with $80K in income and no deductions.

I'm quite certain some eyes will pop at the large amount paid, but the tax codes treat single non property owners in an unfair manner.

As to your paycheck, I'd calculate that you'll receive around 66% of your gross pay...typically in your income range, a biweekly take home check should be in the $1850-2150 range again dependant on how much you might contribute to a pretax retirement plan.
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Old 12-11-2011, 08:19 PM
 
Location: East Fallowfield, PA
2,300 posts, read 4,240,868 times
Reputation: 1167
Quote:
Originally Posted by blewep View Post
Bi-weekly Gross Pay $3,076.92
Federal Withholding $528.85
Social Security $129.23
Medicare $44.62
California $204.43
SDI $36.92
NetPay
Net Pay $2,132.87
Interesting! It will be interesting for me, since I've only lived in states that didn't tax my retirement (Hawaii and Texas), so this will be a little bit of a challenge to pay state tax.
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Old 12-12-2011, 05:37 PM
 
Location: near Paris france
46 posts, read 168,218 times
Reputation: 47
Default blewep : think before to post

instead of saying i do not understand

i don't have to take free calculator online to post and to give the answer

she needs to know what is the NET salary, who care of federal local etc....

the fact is 36 % from gross to net That's the point

best regards
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Old 12-13-2011, 04:03 AM
 
Location: Arvada, CO
13,457 posts, read 25,400,613 times
Reputation: 13529
Quote:
Originally Posted by frenchie View Post
the fact is 36 % from gross to net That's the point
where do you get 36% from? I'm pretty sure it would be 36% on every dollar above $xx,xxx?
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Old 12-13-2011, 10:37 AM
 
4,266 posts, read 9,024,292 times
Reputation: 3262
Quote:
Originally Posted by David Aguilar View Post
where do you get 36% from? I'm pretty sure it would be 36% on every dollar above $xx,xxx?
Actually isn't 36% every dollar above $18x,xxx of taxable income?

Pretty sure most Americans don't have taxable income thats in any bracket over 25%.
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Old 12-13-2011, 10:54 AM
 
3,552 posts, read 5,717,389 times
Reputation: 3473
From my experince, I've found there's not much difference between them and the ones in New York, yes, the ones in NY drive a little too fast and over charge, but so do the ones in LA...what? Oh TAXES, I thought you said TAXIS
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Old 12-14-2011, 02:04 AM
 
Location: Arvada, CO
13,457 posts, read 25,400,613 times
Reputation: 13529
Quote:
Originally Posted by JohnG72 View Post
Pretty sure most Americans don't have taxable income thats in any bracket over 25%.
You're right.

Income tax in the United States
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Old 12-14-2011, 12:41 PM
 
Location: SF Bay Area
13,343 posts, read 18,127,775 times
Reputation: 19677
Quote:
Originally Posted by frenchie View Post
instead of saying i do not understand

i don't have to take free calculator online to post and to give the answer

she needs to know what is the NET salary, who care of federal local etc....

the fact is 36 % from gross to net That's the point

best regards
Online paycheck calc:

California State Controller's Office : Paycheck Calculator Download
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