barua

All,
Could anyone point to a typical paystub with standard dedutions etc.
Just trying to workout actual takehome pay and the online calcs differ from each other.
thanks in advance.

Noorah101

I don't think there is such a thing as typical. There are too many variables.

Figure 25 to 30% less than gross, and that could be your net income.

Rene

md95065

At the very least you need to specify which state you are asking about.

Pulaski

I agree, 25%-30% is the ballpark for most people, but it depends on state income tax and what your gross pay is. At $60k, deductions might be in the low 20% range depending on state income tax rates, so around $46k-$48k net pay, but it is going to be up around 25% by the time you get to $90k-$100k, and then rises steadily after that to 30% and beyond.

deadshoppingmalls

I live in CA which has a pretty high state tax and other deductions. Every paycheck I lose about 33% between everything (fed, state, ss, mediCal etc). My tax every year is 25% (so i usually get some back from the feds) and end up owing a couple hundred to the state.

A general rule of thumb in the US is multiply your gross by .66 and that is the ballpark of what you'll get before your other deductions (401k, healthcare etc)

Pulaski

Because of the "standard deduction" (personal allowance), on which no tax is charged, and some income which is taxed at less than 25%, that "rule of thumb" is overly conservative, and it is likely to be approximately true that the ".66 rule of thumb" will include deductions for 401k, healthcare, etc.

mrken30

I live in Oregon (9% State income tax) and lose about 40% when you take into account State taxes, medicare, workers comp, social security ect. Then I pay for items pre tax and some post tax. I think its about $4000 per dependent per year you can claim for before you pay tax.

this calculator may help you out

http://www.bankrate.com/calculators/...alculator.aspx

barua

My applogies should have mentioned the state(Colorado). Getting there slowly about tax bot based on state.

civilservant

It's about .68 in GA after all deductions (at my tax bracket anyway)

barua

Thanks everyone, did a bit of reading and basic calcs and found .67 as final take home.
Preparing an excel based calc (2016 Married filing Jointly). If anyone needs it please give me a shout.

dj6372

.67 as final take home is a very good figure.


With my 5 different taxes, medical and 401k I receive 66.7% of my gross pay.

Pulaski

Based on last week's pay voucher, my take home is 69.77% after taxes, other mandatory deductions, health insurance premiums, and HSA contribution.

Other deductions which further reduced my actual net pay, are more or less voluntary, including 401k contributions, additional life insurance, and commuter bus tickets, etc.

cautiousjon

.67 is a good estimate.

For me, it's about .33, as I have lots of pre- and post-tax deductions (max 401k contribution, max employee share plan contribution, max HSA and FSA contributions, etc). I can currently afford that, but it'll have to change once I have some dependents.

Asg123

Fractions seem to have gone out of fashion!

I had investment income last year, and mine came to .72

MidAtlantic

Surely your HSA contribution is voluntary and distorts your figures?

My take home is 63% after taxes, mandatory deductions and health insurance premiums.

The figures will also be distorted if you overpay tax. I have not joined the "give the government a free loan" club in order to get excited about a refund next year.