4 ms·
That works out to 37.5% tax. I paid considerably more than that working in California when you include health insurance.
by rfrey 10y ago
That works out to 37.5% tax. I paid considerably more than that working in California when you include health insurance.
- adventured 10y agoConsiderably more - that's surprising. Would you mind breaking out more exact numbers?
- fancy_pantser 10y agoJust to use round numbers, here is a breakdown for a single person making $120k/yr in California at a typical tech company. Monthly gross income: $10000 Federal tax $1494 Medicare $144 Social Security $616 CA Income Tax $751 CA Disability $89 Pretax deductions: Medical $56 Dental $5 Vision $2 Monthly take-home amount: $6843 (68.4% of gross)
- dmode 10y agoThis sounds right
- balfirevic 10y ago> Just to use round numbers, here is a breakdown for a single person making $120k/yr in California at a typical tech company. Is that total cost to employer for that employee? Or are there additional expenses that are not considered part of employee gross income but instead fall under "employer pays for them" category?
- e28eta 10y agoYes, there are taxes paid by the employer. I dislike infographics, but the text at the bottom breaks it down also: https://framework.gusto.com/the-true-cost-to-hire-an-employee-in-california-infographic/ https://framework.gusto.com/the-true-cost-to-hire-an-employe...
- inanutshellus 10y agoCalifornia is consistently at the top of polls ranking by taxes paid. Sooo... it's not entirely fair to extrapolate to the USA from California, despite its size. Two random results pulled from a search: http://www.cnsnews.com/news/article/michael-w-chapman/california-tops-list-10-states-highest-taxes http://www.cnsnews.com/news/article/michael-w-chapman/califo... http://www.nytimes.com/2013/02/07/us/millionaires-consider-leaving-california-over-taxes.html http://www.nytimes.com/2013/02/07/us/millionaires-consider-l...
- ddebernardy 10y agoAnd high rents, but then they're also among the highest earners. It's not like you can easily find a $200k+/year software dev job in Montana. edit: s/mo/year :D
- woobar 10y agoYou pay more than 37.5% on a $50K salary?
- Joky 10y agoDid you miss the fact that he added "you have to pay 1 or 2 months in income taxes" at the end?