NYC, assuming standard biglaw summer associate salary
I've heard you get taxed heavily (as if you are making $160k) and then get most of it back in tax refunds.
Roughly how much do you get per paycheck over the summer, and then how much do you get back in tax returns?
Summer Associate salary after taxes? Forum
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Anonymous User
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orangecup
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Re: Summer Associate salary after taxes?
Use the IRS calculator to figure out how many allowances you can take on your W4. I took something like 17-18 and still wound up with a solid tax return (3-4k IIRC). If you take the standard allowances (2) then you'll get something like 7-8k back in federal and state taxes.
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SplitMyPants
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Re: Summer Associate salary after taxes?
I had 21 last year based on the withholding calculator on the IRS website and accounting for my partial-year employment.
See here:
http://www.top-law-schools.com/forums/v ... p?t=227990
Use the withholding calculator here:
http://www.irs.gov/Individuals/IRS-With ... Calculator
