Best Tax calculator.
#1
Just Joined
Thread Starter
Joined: Apr 2014
Posts: 4
Best Tax calculator.
Good afternoon everyone. My apologies if I have missed this but I was looking for the best tax calculatorfor my wife and I to work out our expected Net salary. We will be moving to Alpharetta GA in July. My salary will be about $115,000.00. Does a take home of about $6700 sound about right?. I hear a lot about the average tax being about 25% (including state).
If anyone knows of a really good detailed tax calculator including, state, dependants, allowances etc, I would really appreciate hearing about it.
Many thanks.
Matthew.
If anyone knows of a really good detailed tax calculator including, state, dependants, allowances etc, I would really appreciate hearing about it.
Many thanks.
Matthew.
#2
Re: Best Tax calculator.
About 25% sounds about right, in the low cost- low tax South. Honestly, the US tax system is so complex you'd be wasting your time trying to get a more precise figure because differences in mortgage, property tax (varies by county) and other deductible items such as 401k, health insurance, certain medical expenses, etc. will almost certainly just leave you with a number that is precisely wrong.
#3
Just Joined
Thread Starter
Joined: Apr 2014
Posts: 4
Re: Best Tax calculator.
Many thanks for the support. So on a figure of $115K what would be a safe bet monthly take home figure to use?.
Thanks again.
Matt
Thanks again.
Matt
#4
BE Enthusiast
Joined: Oct 2002
Location: Atlanta via Dubai, Belgium, Greece, Saudi Arabia
Posts: 953
Re: Best Tax calculator.
Something you will need to understand in the US you will most probably be paid every 2 weeks not every month as is common in the UK or Europe, that may sound odd and so your income will not always match with when your monthly outgoings happen.
Depending on your family circumstances (number of kids, wife working, mortgage tax relief) 25% deductible in Georgia is a good estimate (you may be better off but that's a win.)
So you can estimate on $115k gross your home annual salary @ $86.25k or $3.3k per pay period
Depending on your family circumstances (number of kids, wife working, mortgage tax relief) 25% deductible in Georgia is a good estimate (you may be better off but that's a win.)
So you can estimate on $115k gross your home annual salary @ $86.25k or $3.3k per pay period
#5
Re: Best Tax calculator.
Yes, your figure ($6,700) is in the right ball park, it's likely to be right around $7k/mth, or a little less. So you could work, conservatively on $6,500/mth ($3,250/½mth, $3,000/2wks) and be pleasantly surprised if it is a little more.
#6
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,128
Re: Best Tax calculator.
Here is a free tax estimator that should give you a good idea of what you will pay.
https://turbotax.intuit.com/tax-tool...ors/taxcaster/
I don't know about GA State taxes, but you should be able to Google "Georgia State Tax Rates" to get an idea. The following site looks like it has a calculator you can use.
http://www.tax-rates.org/georgia/income-tax
https://turbotax.intuit.com/tax-tool...ors/taxcaster/
I don't know about GA State taxes, but you should be able to Google "Georgia State Tax Rates" to get an idea. The following site looks like it has a calculator you can use.
http://www.tax-rates.org/georgia/income-tax
#7
Just Joined
Thread Starter
Joined: Apr 2014
Posts: 4
Re: Best Tax calculator.
Thanks for the advice guys. Looks like we will need the money for the car insurance!!!.
Matt
Matt
#8
BE Enthusiast
Joined: Oct 2002
Location: Atlanta via Dubai, Belgium, Greece, Saudi Arabia
Posts: 953
Re: Best Tax calculator.
Matt,
when the time gets closer and you need to buy insurance I can let you have the name of my broker who took into consideration my experience prior to coming to the US, so you can do a sanity check with other quotes.
He is based in Duluth which isn't to far from where you will be moving to.
when the time gets closer and you need to buy insurance I can let you have the name of my broker who took into consideration my experience prior to coming to the US, so you can do a sanity check with other quotes.
He is based in Duluth which isn't to far from where you will be moving to.
#9
Just Joined
Thread Starter
Joined: Apr 2014
Posts: 4
Re: Best Tax calculator.
Thanks for that Vimto. We are just arranging our embassy visit with a planned move date of the beginning of July. To be honest, we can't wait.
Matt
Matt