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California Tax Rates
Hey guys,
I'm going to be moving to California for a job and I'm starting to think about how much I can afford on a apartment among other things. I'm a single female and I'll be making about $50,000. So I was wondering how much of that would be taken in taxes and what I'd actually be able to spend. I tried paycheckcity.com and I don't know if I can trust it. As a test I used my current salary and it said I made about $7,500 less than I do now after taxes (even though things like retirement and such are taken from my paycheck currently). I checked with the new salary and it said I'd make $20,000... It sounds too crazy that $30,000 will be taken in taxes...
If you're a California resident, can you please give me an estimate on how much I can expect to make? One coworker said it's safe to assume that half my paycheck will be gone which is awful... Any advice would be good. Or if you have a site you know is more accurate.
Also, I'll be moving out of the house with this move to a new state so I want to make sure I can afford to support myself.
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Want to answer more questions in the Work & School category?
Maybe give some free advice about: Personal Finance?
I'm not from California.
Sorry.
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Here are some sights for understanding and estimating pay checks and taxes.
[Link](Mouse over link to see full location)
[Link](Mouse over link to see full location)
From what I hear paycheckcity is legitimate. I don't know for sure because I don't live in California. However speaking from experience. When your relocating your life, you want to be over prepared. Keep your plans lucrative with room to change. Look for 6 month leases under your budget as an ideal starting place. Some times relocating involves some amount of trial and error. Plan for it, over prepare financially and be open for adjustments.
Good Luck
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I'm sorry to say but your coworker may be pretty close to being correct, it could be anywhere from 1/3 to 1/2 of your check going to taxes, especially being single without dependents. I made 7k a year and half of that was gone before I had my son. *Gladly I make much more than that now* But even still they still do take quite a pretty penny from me even with my son as a dependent. Better safe to assume at least half will be taken than to underestimate the power of the government taxing system.
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Use the link below to calculate your taxes. I di using the same $50,000 and your employer withholding at a 23% Federal rate and a California rate of 9.3% which I found to be the rate of withholding for a $50K income your bi-monthly take home check would be $1,302.63.
I also calculated your taxes just using your standard deduction or using and you would get back from state and federal over $5K. Do the math yourself using the link below.
[Link](Mouse over link to see full location)
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