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Best way to estimate future take home $$$

Posted on 10/1/13 at 10:58 pm
Posted by LSUTOM07
Baton Rouge
Member since Dec 2011
765 posts
Posted on 10/1/13 at 10:58 pm
I will be taking a job out of state soon. What is the best site to estimate what my take home will be after state/fed taxes, soc. security, etc. I have searched but haven't found any useful calculators yet.

I'm trying to get an idea of how much I can afford to spend on rent each month fwiw.


Posted by nogoodjr
Member since Feb 2006
795 posts
Posted on 10/2/13 at 6:50 am to
This depends on many things.

Salary (tax rate)
W4 (number of deductions taken)
State in which you reside
Ect....

You can adjust what your take home pay is by adjusting your w4.

Just use salary x .75. Close enough.
Posted by geauxbears08
Houston, TX
Member since Jun 2011
223 posts
Posted on 10/2/13 at 7:19 am to
paycheckcity.com

LINK
Posted by Croacka
Denham Springs
Member since Dec 2008
61441 posts
Posted on 10/2/13 at 7:34 am to
do you have an offer from the company yet?

do you know how much you'd have to pay for medical/dental?

don't forget contributions to 401k, etc.

my current take home is 65% of my gross, but thats after 8% to 401k, insurance for my whole family, etc.
Posted by LNCHBOX
70448
Member since Jun 2009
84053 posts
Posted on 10/2/13 at 8:24 am to
quote:

I have searched but haven't found any useful calculators yet.


Must not have searched very hard. Paycheckcity is one of the many free calculators that do exactly what you want.
Posted by Booyow
Member since Mar 2010
3990 posts
Posted on 10/2/13 at 9:13 am to
LINK

I've used this one on ADP's site before.
Posted by LSUTOM07
Baton Rouge
Member since Dec 2011
765 posts
Posted on 10/2/13 at 10:26 am to
quote:

do you have an offer from the company yet?


yes

quote:

do you know how much you'd have to pay for medical/dental?


That is one thing I am unsure of. I have all of the med. benefits information but I don't know what any of this means.

quote:

don't forget contributions to 401k, etc.


I will be contributing 8% also. I assume I take out the 8% before calculating taxes correct?

Posted by Oenophile Brah
The Edge of Sanity
Member since Jan 2013
7540 posts
Posted on 10/2/13 at 11:17 am to
quote:

I will be contributing 8% also. I assume I take out the 8% before calculating taxes correct?

Not in finance I assume.
Posted by LSUTOM07
Baton Rouge
Member since Dec 2011
765 posts
Posted on 10/2/13 at 4:48 pm to
quote:

Not in finance I assume.


Wut?
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