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Thread: Need help figuring out what I can affrord out in cali! (how bad are taxes)

  1. #11
    Senior Member mr_coffee's Avatar
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    Holly cow hah i hate taxes! THanks a ton for the info! This is giving me a good idea of how much I'll have to spend. I was thinking about selling my body for some extra cash on the streets of san jose to support me going to rehab

    Injured:10-16-04
    C7/C8, T1 incomplete;


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  2. #12
    You can have pre-tax money taken out of your check for medical expenses. It is a good way to save on taxes if you know about what you will be spending. Talk to HR about it when signing up for your benefits.

  3. #13
    Check out this link:

    http://www.paycheckcity.com/NetPayCa...calculator.asp

    Any time employees or new hires asked what their specific pay would be, I directed them to this payroll calculator. It allows you to determine pretty much exactly what you will be making based on salary, W4 selection, benefits, etc. Just plug your figures in....

  4. #14
    Senior Member Doorman's Avatar
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    Quote Originally Posted by Wheelieboy View Post
    Check out this link:

    http://www.paycheckcity.com/NetPayCa...calculator.asp

    Any time employees or new hires asked what their specific pay would be, I directed them to this payroll calculator. It allows you to determine pretty much exactly what you will be making based on salary, W4 selection, benefits, etc. Just plug your figures in....
    That's pretty cool thanks for the link.

  5. #15
    Senior Member mr_coffee's Avatar
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    cool thanks for the info
    Injured:10-16-04
    C7/C8, T1 incomplete;


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  6. #16
    Super Moderator Sue Pendleton's Avatar
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    FICA does stop deducting way up there [and is different than federal taxes] but Medicare taxes never stop. Or we haven't see that happen yet--on wages anyway. We socked away as much as Uncle would let us in a 401K and had one new but cheap car and a used beater when we moved back to the states. Bought a house $50K below what the realtor said we could afford. Nice house but we'd be eating at a soup kitchen. I just wish I had a long term dis policy on me.

    I'd rent real cheap or share until you know the area and commutes. Then buy a condo or very nice but small house in very nice neighborhood. I think Cali has some gimp loans at cheaper rates.
    Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day saying, "I will try again tomorrow."

    Disclaimer: Answers, suggestions, and/or comments do not constitute medical advice expressed or implied and are based solely on my experiences as a SCI patient. Please consult your attending physician for medical advise and treatment. In the event of a medical emergency please call 911.

  7. #17
    Senior Member MZack's Avatar
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    One bright note - when you pay through the nose in state and fed taxes, yet have a lot of deductions, you can look forward to a hefty refund check from the state and fed govt. I had so many deductible med expenses, plus tons of deductible mortgage interest on my condo, I got several thousand bucks in refund checks.

  8. #18
    Senior Member mr_coffee's Avatar
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    Awesome yah I still need to figure what I can deduct!
    Injured:10-16-04
    C7/C8, T1 incomplete;


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  9. #19
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    Try to max out on your 401K if at all possible or push it to a point where it hurts a little. I think it's $14,500 per year (not certain in CA) and your employer will know. Annual bonuses and raises should provide for additional financial flexibility in the future. I have found that I tend to spend what I make and I've heard others say they do the same thing - buy a house or a nicer house, car, vacations, 120 inch flat screen with automatic foot massager, etc. So, if you invest early it's almost like you never had the money to spend. Later when things settle down and you are making more it's a good idea to have money invested on a monthly basis above and beyond your 401K.

  10. #20
    Senior Member mr_coffee's Avatar
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    I found out my company will match up to 4.5% my gross pay and match it 100% past that, they won't match it 100%
    Injured:10-16-04
    C7/C8, T1 incomplete;


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