Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Approximate tax burden

Approximate tax burden

Old Dec 22nd 2009, 10:51 am
  #1  
IPM
Forum Regular
Thread Starter
 
Joined: Aug 2009
Posts: 123
IPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to allIPM is a name known to all
Default Approximate tax burden

Grateful for anyone who can provide an approximate guide for the all-in tax/socsec burden (Federal and State) for a salary of around $200k based in Washington. Thanks
IPM is offline  
Old Dec 22nd 2009, 11:21 am
  #2  
Lost in BE Cyberspace
 
Joined: Jun 2005
Location: Oz -> UK -> San Diego
Posts: 9,909
Ozzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond reputeOzzidoc has a reputation beyond repute
Default Re: Approximate tax burden

Originally Posted by IPM View Post
Grateful for anyone who can provide an approximate guide for the all-in tax/socsec burden (Federal and State) for a salary of around $200k based in Washington. Thanks
Washington state or DC?

I'm assuming state due to you mentioning "state" above.

Some cities have additional income taxes, so we'd need to know that information to help you.

Then remember other taxes - eg sales, property.


Try:
http://www.paycheckcity.com/NetPayCa...calculator.asp
Ozzidoc is offline  
Old Dec 22nd 2009, 1:05 pm
  #3  
Lost in BE Cyberspace
 
Duncan Roberts's Avatar
 
Joined: Oct 2003
Location: Avon Lake, OH
Posts: 5,270
Duncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond reputeDuncan Roberts has a reputation beyond repute
Default Re: Approximate tax burden

Pretty much impossible to accurately predict unless you post a lot more information about any tax credits and/or write offs you are eligible for, any pre-tax deductions that will come out of your pay, your tax status (single, married, married filing single), your deductions and as said, what the tax situation is like in the city you will be living in. It's not as easy to figure out as you might think. Figure 50% and then anything less will be a bonus and anything more won't be too much of a shock!
Duncan Roberts is offline  
Old Dec 22nd 2009, 5:13 pm
  #4  
Lost in BE Cyberspace
 
Bluegrass Lass's Avatar
 
Joined: Oct 2003
Location: My Old KY Home!
Posts: 6,498
Bluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond repute
Default Re: Approximate tax burden

BTW, IIRC Washington State has no state income tax. However, expect to pay higher property and sales taxes.
Bluegrass Lass is offline  
Old Dec 22nd 2009, 6:10 pm
  #5  
Lost in BE Cyberspace
 
Joined: Jan 2006
Location: San Francisco
Posts: 10,136
Giantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond reputeGiantaxe has a reputation beyond repute
Default Re: Approximate tax burden

Originally Posted by Duncan Roberts View Post
Pretty much impossible to accurately predict unless you post a lot more information about any tax credits and/or write offs you are eligible for, any pre-tax deductions that will come out of your pay, your tax status (single, married, married filing single), your deductions and as said, what the tax situation is like in the city you will be living in. It's not as easy to figure out as you might think. Figure 50% and then anything less will be a bonus and anything more won't be too much of a shock!
Throw in possible Alternative Minimum tax into the bucket with that size of income, although Washington State's lack of a state tax is a plus in this regard.
Giantaxe is offline  
Old Dec 22nd 2009, 6:56 pm
  #6  
Lost in BE Cyberspace
 
Michael's Avatar
 
Joined: Jun 2008
Location: San Francisco Bay Area
Posts: 10,678
Michael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond reputeMichael has a reputation beyond repute
Default Re: Approximate tax burden

Since Washington state does not have an income tax, use the following federal income tax calculator to determine the amount of federal income tax you will likely pay. If you have over $5,700 ($11,400 if married filing jointly) of deductions (home interest, property taxes if you own a home, local taxes, etc.), your taxes will be less.

Besides that amount, you will pay 6.2% for social security tax on the first $106,800 of income (maximum $6621.60) plus 1.45% on the full income for medicare tax. These taxes are referred to as FICA and you may be able to pay NI instead of FICA if you choose.

When using the tax calculator, select your filing status and exemptions.

http://www.dinkytown.net/java/Tax1040.html
Michael is offline  
Old Dec 22nd 2009, 7:39 pm
  #7  
MODERATOR
 
penguinsix's Avatar
 
Joined: Nov 2006
Location: Hong Kong, mostly.
Posts: 5,105
penguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond reputepenguinsix has a reputation beyond repute
Default Re: Approximate tax burden

Google payroll calculator

http://www.paycheckcity.com/NetPayCa...calculator.asp
penguinsix is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.