Take home pay?

Nurses General Nursing

Published

Hello,

I found that the average annual income for a RN in NY is 85k-95k. Tax in NY lowers that 95k to like 70k. Is there anyway to reduce tax income for a RN? Because that sounds like too much money to be taken. Thanks in advance for your answers.

Specializes in Pediatrics Retired.

Move to Texas or some other state that doesn't have state income tax.

Specializes in NICU, ICU, PICU, Academia.

Relocate. Taxes are taxes and the only way to avoid them results in jail time.

Specializes in NICU.

Contribute to your 401K/403B. The money that you put in your 401K is not taxed until you withdraw it after retirement. Put money into your HSA. Same as 401k, it is not taxed. Those don't help increase your take home paycheck, but government gets less of your money.

States with a cheaper cost of living and no state taxes will not pay that much (far from it in my lovely no state tax that likes to say they reimburse us with the sunshine).

My husband makes within the range that you speak pretax. Take Home is mid $50k so I doubt that moving here would make your paycheck any nicer.

Federal and social security/Medicare/Medicaid taxes are what they are. What really burns my butt is that I've spent all my life paying into something that will be bankrupt long before I retire, which probably won't be in my late 60's. Then I think of the salaries that our taxes are used to pay those in Washington who keep getting us deeper into debt yet they seem to get raises without question and which makes me want an emesis basin. No, forget that I want the bath bucket.

Retirement funds like 401k will decrease your overall tax burden but you need to be able to live without that money prior to your retirement because it'll be a while before you will ever see that money.

Just stop working. No other way to avoid it ;)

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