Fema Employment
How do I calculate my income after Federal and State tax?
I live in Berkeley, CA and have been offered a job in San Francisco, CA. The pay is $14.43/hour, 40 hours/week. How can I figure out what my income will be after Federal and State taxes are taken out?
Public Comments
- www.paycheckcity.com
- That is a good question considering the fact that the taxes are a moving target. You could start by researching on the internet or calling your state to find out what the state income tax is and call the county and find out if there is a county tax. Then check with the US government tax forms to figure out how much social security tax, medicare tax and federal tax you might owe for your income. Some of these taxes could change next year. That should get most of the taxes and give you an idea. You can compare it to what you are making now and see if you will come out ahead (if you are working now). You might also want to see if the housing and cost of living is more expensive in San Francisco than in Berkeley.
- Multiply $14.43 times the total hours you will work for the year to get a total income, then look up the tax in the Form 1040 instructions. Divide that by the number of weeks you will work, which will give you the income tax to be withheld. Add another 7.65% times your pay for the week for social security tax that will be withheld. Then add state tax to that. The actual withholding may vary slightly from this calculation, but will be very close.
