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How did you calculate the income tax in both places? If I put $100,000 US dollars in this[1] calculator I get an income tax rate of 34% for central park west i
by njarboe 9y ago
How did you calculate the income tax in both places?
If I put $100,000 US dollars in this[1] calculator I get an income tax rate of 34% for central park west in NYC (not including the employer side of FICA, which would at another 7.5% for a total of 41%).
If I put $126,000 into this[2] calculator, I get an income tax rate of 31% of Ontario. Maybe there are other Canadian income taxes that this calculator does not account for? I'm American and don't know the details. The EI (Employment Insurance) is also taken out in America, but not usually included as an income tax.
[1] https://smartasset.com/taxes/new-york-tax-calculator#UYCGKmAi8O https://smartasset.com/taxes/new-york-tax-calculator#UYCGKmA...
Total income: $100,000
Federal $17,443
FICA $7,650
State $5,610
Local $3,234
Total Income Taxes $33,937
[2] https://simpletax.ca/calculator https://simpletax.ca/calculator
Total income $ 126,000
Federal tax $ 22,752
Provincial tax $ 12,511
CPP/EI premiums $ 3,400
Total tax $ 38,664