Need help with taxes...

[eSDee]

I have a question for you employed people out there. I finally got a job today, System Admin at the University that I graduated from. I am trying to figure out how much the offer I received means in real money, after taxes and stuff. I haven't had a real job in a long time so I don't know about taxes and what not. I live in California. Can anyone give me a percentage of how much cash they take outta your paycheck? Thanks!

[eSDee]

Hey DarkFury, Cali does have a State Tax. I don't know how much it is though. I'm trying to find out though our State website is ATFU.

[attgig]

basic income tax, look at losing at least 30% to uncle sam

[jujubees]

EsDee, it all depends on whether your employer covers all of your insurance plans or not. I'm employed by the UC system, and they pay my insurance plan costs, so my net paycheck is about 75% of the gross.

Your total might be even less if you're in a higher tax bracket ... but I don't know anything about THAT can of worms. :)

[brain]

I was getting over 40% taken out at my last job. But then the government has a tendency to jack you when you start making bigger money.

[eSDee]

Originally posted by jujubees
EsDee, it all depends on whether your employer covers all of your insurance plans or not. I'm employed by the UC system, and they pay my insurance plan costs, so my net paycheck is about 75% of the gross.

Your total might be even less if you're in a higher tax bracket ... but I don't know anything about THAT can of worms. :)

Hmmm 75% would be nice. However I don't know how much they pay of it. I get free vision/dental, and medical is supposed to be around 10 bucks a month, depending on what route I go(this is another field which I have no clue).

Once I get my first paycheck I'll tell everyone what I figured out. Then we can start a suckage/nss thread about taxes :mad:

Thanks!

[wrkngirl]

California state tax maxes out at 9.3 %, this applies if you are making higher than about 34k.
This is a paycheck calculator, it's online at Amex, but you plug in your info (salaried or hourly). "This analyzer calculates your net income per pay period after subtracting income taxes and any other deductions. Deductions and taxes lower your taxable income. Smaller taxable income lowers your income taxes..."
http://finance.americanexpress.com/sif/cda/page/0,1641,4588,00.asp#Paycheck

Oh, and the paycheck calculator works for any state, not just CA. :)

[Grimm]

Expect to lose 1/3 of your check to taxes in Cali.

[oblongmelon]

the more you earn, the less you seem to take home. Man I hate taxes.

[dbax791]

I used to live in California and the Marginal Tax rate was 42%. So when I got bonuses or exercised stock options I would only get 58%. Grr! and when I moved to Arizona, that stupid state friggen hosed me on the partial year resident form. I hate CA taxes!

On the bright side, some court ruled that the out-of-state car emissions registration (about $300) that I paid was illegal, and out of the blue I got a check in the mail about a year later for a full refund. Ha Ha CA! Serves ya' right!

[eSDee]

Originally posted by wrkngirl
California state tax maxes out at 9.3 %, this applies if you are making higher than about 34k.
This is a paycheck calculator, it's online at Amex, but you plug in your info (salaried or hourly). "This analyzer calculates your net income per pay period after subtracting income taxes and any other deductions. Deductions and taxes lower your taxable income. Smaller taxable income lowers your income taxes..."
http://finance.americanexpress.com/sif/cda/page/0,1641,4588,00.asp#Paycheck

Oh, and the paycheck calculator works for any state, not just CA. :)

That's an awesome link wrkngirl thanks alot! :thumb:

[Speedfreak]

Originally posted by DarkFury
Hmmmm... does California have a state tax?


:heh: :heh:

[wrkngirl]

originally posted by esdeeloco
That's an awesome link wrkngirl thanks alot!
You're welcome. Hope the final paycheck number didn't come as too much of a shock! :kaching: