US Income Tax calculations

[Matt_B]

I was mooching around on the old google looking for jobs in the US (New York in particular) as I would like to move there in a few years maybe. I found a job on say $100k a year, how do i work out what income tax etc I would lose on this?

I found this site http://www.dinkytown.net/java/Tax1040.html but it seems massively complicated to this country when compared to simple PAYE tax and NI. Does anyone know of a simple if slightly innacurate rule, i.e you generally keep 70% of your income?

 

[bocadillo]

I was mooching around on the old google looking for jobs in the US (New York in particular) as I would like to move there in a few years maybe. I found a job on say $100k a year, how do i work out what income tax etc I would lose on this?

I found this site http://www.dinkytown.net/java/Tax1040.html but it seems massively complicated to this country when compared to simple PAYE tax and NI. Does anyone know of a simple if slightly innacurate rule, i.e you generally keep 70% of your income?

By the time you are earning $100k in the US, your marginal tax rate is 28%. That doesn't mean that you pay 28% of your income because you would be claiming some allowances and a lot of your earnings would be charged at the lower level.

If you work your way through that calculator, you will find that your tax bill claiming no allowances other than that for a single person would be $19,472. But don't forget that is only Federal Income Tax; some states and some cities also charge Income Tax.

There is no simple figure that would work at every level of income any more than there is in the UK.

 

[Macky]

I was mooching around on the old google looking for jobs in the US (New York in particular) as I would like to move there in a few years maybe. I found a job on say $100k a year, how do i work out what income tax etc I would lose on this?

I found this site http://www.dinkytown.net/java/Tax1040.html but it seems massively complicated to this country when compared to simple PAYE tax and NI. Does anyone know of a simple if slightly innacurate rule, i.e you generally keep 70% of your income?

Don't you have to file your own tax return, as in it's not PAYE?
So if you aren't planning on staying there, don't submit anything and pay ****all.

 

[Matt_B]

By the time you are earning $100k in the US, your marginal tax rate is 28%. That doesn't mean that you pay 28% of your income because you would be claiming some allowances and a lot of your earnings would be charged at the lower level.

If you work your way through that calculator, you will find that your tax bill claiming no allowances other than that for a single person would be $19,472. But don't forget that is only Federal Income Tax; some states and some cities also charge Income Tax.

There is no simple figure that would work at every level of income any more than there is in the UK.

Yeah that's what I came out with (well $14k as I put married joint application, I will be married by then) but coming out with effectively $6k a month seemed quite generous.

Don't you have to file your own tax return, as in it's not PAYE?
So if you aren't planning on staying there, don't submit anything and pay ****all.

That's the way it looks, my plan would be do a generous calculation at the beginning of the year and put aside the relevant payment every month.

Cheers guys