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Forum
-> Working Women
amother
Coral
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Mon, Mar 23 2015, 11:15 pm
Can someone help me figure out what my net pay would be?
what information would you need, besides salary, to figure it out?
I am trying to figure out if a job offer is worth the money or if my whole pay check will end up going to the babysitter.
(Anon because I'm hoping someone will be able to help me and may lead to needing personal info)
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bookworm10
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Mon, Mar 23 2015, 11:18 pm
Salary, tax info, and how much babysitting is. Is it a job in a yeshiva where your tuition is paid pre-tax? Are you getting medical insurance? Etc.
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amother
Sienna
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Mon, Mar 23 2015, 11:30 pm
Does your DH work? If yes then the part that you pay taxes may be taxed on a higher rate. I know when I get a job my first few thousand will be tax free because of deductions, but then I will have to pay 25% in taxes because of DH's salary.
I quit my job when my babysitter would have been making more than my take home pay because I had another baby. I do regret that now.
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supty
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Mon, Mar 23 2015, 11:30 pm
Well you'll automatically be paying 7.5% for FICA no matter what. Your income tax withholdings will depend on a few factors- your tax bracket, how many dependents you have, what state you live in, etc.
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amother
Coral
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Tue, Mar 24 2015, 8:55 am
Juicy wrote: | http://www.paycheckcity.com/cokronos/netpaycalculator.asp |
thank you But it's specific for certain states and ny was not one of them.
I am in nyc. it's an hourly job so I am estimating based on the hours I plan to work that gross will be $500 weekly. There are no pretax deductions. I file as married with 4 kids.
what would my net be?
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SRS
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Tue, Mar 24 2015, 9:04 am
Your take home could be anywhere from nearly 92% to 50% depending on the rest of your situation. Take that income, make a pretend W-2 and stick it in your tax software and see how the tax numbers change and you will have your answer.
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chatz
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Tue, Mar 24 2015, 9:34 am
http://payroll.intuit.com/payc.....gacy/
this has ny in it.
if only you work, you would have 6 exemptions/allowances (2 parents, 4 kids kah). If both of you work, you split it. It usually works best if the person making the most money takes the exemptions. If you expect not to owe any taxes due to Earned income credit or other credits, you can claim more allowances.
For $500 per week, net pay would range from $400.34 (0 allowances) to 444.61 (6 allowances).
Tax includes: FICA and MED (7.65%), Disability ($0.60 per week), Federal, State, and City Withholding (depends on income and allowances).
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