Take home on 180k? Forum

[Anonymous User]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

[Anonymous User]

bumping. interested as well.

[Hutz_and_Goodman]

It's something like 108k-110k.

[Anonymous User]

It's something like 108k-110k.

Do you mean for NYC? The NYC city tax plus the difference in state income tax levels and deductions may make the figure vary a bit more than that for secondary markets.

[Nebby]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

Google is your friend

https://smartasset.com/taxes/income-taxes

[Anonymous User]

ignore

[sublime]

I am getting a bunch of different shit based on various online calculators, but it seems like maxing out a 401k, you will end up with just under $4k each biweekly pay period in NYC.


https://smartasset.com/taxes/income-taxes#keIBrLUZy5

Then 121,794 - 18,000 (401k) = 103,794

103,794/26 = 3,992.


Very possible I fucked this up somehow though, Esp bc ADP puts it at $3,707

[BmoreOrLess]

I am getting a bunch of different shit based on various online calculators, but it seems like maxing out a 401k, you will end up with just under $4k each biweekly pay period in NYC.


https://smartasset.com/taxes/income-taxes#keIBrLUZy5

Then 121,794 - 18,000 (401k) = 103,794

103,794/26 = 3,992.


Very possible I fucked this up somehow though, Esp bc ADP puts it at $3,707

You should be pulling out 401k (assuming traditional) before taxes. So basically plug in $162k to the calculator.

[Anonymous User]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

Google is your friend

https://smartasset.com/taxes/income-taxes

This seems too high. For CA, it says take home is $118,979 with no 401k contribution, which comes out to $4,957 per pay period or $9,915 per month. Can that be correct?

Also, if you put in an $18,000 401k contribution, it says take home is $125,225, which pans out to $5,217 per pay period or $10,435 per month. I know I'm a financially illiterate millennial, but these numbers seem off, right?

[Nebby]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

Google is your friend

https://smartasset.com/taxes/income-taxes

This seems too high. For CA, it says take home is $118,979 with no 401k contribution, which comes out to $4,957 per pay period or $9,915 per month. Can that be correct?

Also, if you put in an $18,000 401k contribution, it says take home is $125,225, which pans out to $5,217 per pay period or $10,435 per month. I know I'm a financially illiterate millennial, but these numbers seem off, right?

Look up how 401k works

[Anonymous User]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

Google is your friend

https://smartasset.com/taxes/income-taxes

This seems too high. For CA, it says take home is $118,979 with no 401k contribution, which comes out to $4,957 per pay period or $9,915 per month. Can that be correct?

Also, if you put in an $18,000 401k contribution, it says take home is $125,225, which pans out to $5,217 per pay period or $10,435 per month. I know I'm a financially illiterate millennial, but these numbers seem off, right?

Look up how 401k works

I understand that 401k contributions are pre-tax and reduce taxable income. However, by contributing $18,000 per year, this calculator says your annual take home pay will increase by about $8,500. Something doesn't add up.

[Nebby]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

Google is your friend

https://smartasset.com/taxes/income-taxes

This seems too high. For CA, it says take home is $118,979 with no 401k contribution, which comes out to $4,957 per pay period or $9,915 per month. Can that be correct?

Also, if you put in an $18,000 401k contribution, it says take home is $125,225, which pans out to $5,217 per pay period or $10,435 per month. I know I'm a financially illiterate millennial, but these numbers seem off, right?

Look up how 401k works

I understand that 401k contributions are pre-tax and reduce taxable income. However, by contributing $18,000 per year, this calculator says your annual take home pay will increase by about $8,500. Something doesn't add up.

It's considering the 18000 as take home (nontaxed) since you'll theoretically use it in the future

[Nebby]

To find your effective take home, take 125k - 18k divided by 12

[Anonymous User]

Anyone who's gotten the salary bump willing to share what their take home pay is at $180k? I assume something in the ballpark of $9k/month or $108k annually?

I know there are paycheck calculators and what not, but they are never truly accurate. Interested specifically in CA, but figures from anywhere are helpful.

TYIA.

Google is your friend

https://smartasset.com/taxes/income-taxes

This seems too high. For CA, it says take home is $118,979 with no 401k contribution, which comes out to $4,957 per pay period or $9,915 per month. Can that be correct?

Also, if you put in an $18,000 401k contribution, it says take home is $125,225, which pans out to $5,217 per pay period or $10,435 per month. I know I'm a financially illiterate millennial, but these numbers seem off, right?

Look up how 401k works

I understand that 401k contributions are pre-tax and reduce taxable income. However, by contributing $18,000 per year, this calculator says your annual take home pay will increase by about $8,500. Something doesn't add up.

Nebby that wasn't very helpful and I don't think the way that calculator was working is at all intuitive.

Anon- I'm almost positive that what's going on is that the calculator is showing the income that's going into your 401k as part of your after-tax income, even though you won't actually be able to access it in the moment without stiff withdrawal penalties. But I think the calculator is presenting it as part of your "income after taxes", since it's not being taxed, but it wouldn't actually be in the bimonthly paychecks you receive. So maybe subtract $750 from that figure (since it'll go directly to a 401k deduction) and you'll have a more accurate sense of that? You're correct that even if contributing lowers your marginal tax rate, it shouldn't make your take-home pay actually go up.

Edit: Well, at least you gave him the gist of it 8 minutes before I did...