Monday, March 28, 2011

How big will my paycheck be?

I just started a new job, i'm not used to annual salary. I used to be hourly and worked a lot of overtime. The 6 month probationary pay is at 32,000 a year. I live in wisconsin. Anybody have a similar pay and wouldn't mind saying it, and maybe mentioning how much of their check is going to medical and dental? My insurance premiums here are way way higher than at my last job too, so I just want to know about what I'll be bringing home after all that.
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Income taxes are not a flat percentage. In order to determine the net paycheck, some information is needed: 1. gross pay 2. payment frequency (weekly, bi-weekly, semi-monthly) 3. Marital status (single? married?) 4. Are you a dependent (a student under the age of 24 is presume to be a dependent of his or her parents.) 5. number of dependents 6. amount of pre-tax deductions from your paycheck (medical insurance, 401K, Flexible spending account for transit, medical expenses, etc.) 7. Where you work (there are 45 states with income taxes, plus in five of them there are local taxes) 8. Where you live (some states have reciprocity agreements with others so, for example, if you live in Pennsylvania but work in New Jersey, you have PA taxes withheld.) Once you have all of the information, you can go to Paycheck City's site at http://www.paycheckcity.com/cointuitonli… I hope this helps. Gary
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