How much $$$ do you get after taxes?

  1. 0
    hello.

    i was checking out salary.com and i saw that Register nurses make about 73k a year... but only take home about 4k each month stating you have 2 dependents... thats only 48k cash... WOW what happens to the other 25k... this is sooooooooo unfair.. is this true?

    if so how am i surposed to live in new york city with only 4k a month... around where i live in brooklyn a 1bedroom is already 1500 a month without utilities!!!

    I have a child so i need a 2-3 bedroom which in my prospect heights area is about 1900 a month without utilities... so 2300 with utilities then i want to buy a car it doesnt add up.. then childcare 400 weekly....


    WILL I BE LIVING PAY CHECK TO PAY CHECK...?????????????????????????????
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  3. 30 Comments so far...

  4. 0
    You'll have to make cuts in your lifestyle.

    Do you really need a 2-3 bedroom place in NYC?

    Do you really need a car in NYC?

    Do you really need to live in Prospect Heights?

    - If the answer is yes, you will feel the pinch.

    I give up almost 38% of my income to taxes, as a single/no dependents male.
  5. 0
    Nursing salaries vary greatly around the country (I wonder if the $73k figure on salary.com is intended to represent a national average?) I've never come close to making $73k, but I've been very comfortable relative to the cost of living in my area ... RNs in more expensive areas of the country often make lots more than $73k/year, and one often has the option of working overtime to bring home more $$$. Yes, a large chunk of your paycheck will go to taxes; that is true whatever your occupation.
  6. 0
    Does anyone know how to calculate how much of my future salary will be taken away in taxes? Should I just count on roughly one third? I'm trying to figure out how much I'll be able to pay back in student loans after I graduate if I'm making about 70k. Thanks!
  7. 1
    Quote from lh856
    Does anyone know how to calculate how much of my future salary will be taken away in taxes? Should I just count on roughly one third? I'm trying to figure out how much I'll be able to pay back in student loans after I graduate if I'm making about 70k. Thanks!
    Go to paycheckcity.com It will tell u how much u will be bringing home based on the state u reside in.
    BSNRN2010 likes this.
  8. 2
    People are currently living in NYC with salaries MUCH lower than $4k a month

    Quote from FutureRNelizabeth
    hello.

    if so how am i surposed to live in new york city with only 4k a month... around where i live in brooklyn a 1bedroom is already 1500 a month without utilities!!!


    WILL I BE LIVING PAY CHECK TO PAY CHECK...?????????????????????????????
    Hydakins and elkpark like this.
  9. 0
    Quote from NYDreamer
    People are currently living in NYC with salaries MUCH lower than $4k a month
    Well Apartments in brooklyn are getting very expensive. RIGHT NOW I PAY 1 bedroom 1200 this is without utilities... and childcare for a 6mth old baby 225 a week in my area which totally sucks but hey ... MY SON loves NYC AND I DONT PLAN ON MOVING

    BUT CAN SOMEONE REALLY LIVE ON 4K A MONTH ... AND YES i need a 3bedroom...in my prospect heights area a 3 bedroom is about 1900 a month.. my son is going to need his own bedroom e marey mini office
  10. 1
    People are living in NYC with much lower salaries but it really depends on what kind of lifestyle you are used to. For instance my friend lives in Brooklyn and makes about $2,000 a month after taxes but her rent is $600. Where will you find a $600 rent right now? I don't know. Anyway, she complains it's very tight for her. Now if you are making $4,000 and paying $1,500 in rent and $225 a week for babysitting whch is quite expensive, it WILL be very tight! Some people may say you don't need a car in NY. But if you are a person like me, who DOES NOT ride public transportation, then you do. Also, I strongly believe that when you have kids, they should have their own privacy and vice versa, so yes you will need another bedroom. Apartments are ridiculous in NY right now and unless you are a person who LOVES to work overtime, it will be hard. But all work and no play is not good either. When will you have time to enjoy your money? I don't feel you should have to cut corners to live comfortable. I do understand that some sacrifices must be made and if you are not willing to do so, then maybe NY is not the right place. NY will soon be for the very rich and that's why many people are leaving. However, many people believe that there is no place like NY and wouldn't imagine living anywhere else. Check out www.paycheckcity.com and www.city-data.com
    Hydakins likes this.
  11. 0
    $1200 for a one bedroom? Have you looked in other areas, queens, bronx? In parchester, bronx, you can pay a low as $915 for a one bedroom, $1200 for a two bedroom and $1500 for a three bedroom.

    If you look in expensive areas, you will pay expensive prices.


    Quote from FutureRNelizabeth
    Well Apartments in brooklyn are getting very expensive. RIGHT NOW I PAY 1 bedroom 1200 this is without utilities... and childcare for a 6mth old baby 225 a week in my area which totally sucks but hey ... MY SON loves NYC AND I DONT PLAN ON MOVING

    BUT CAN SOMEONE REALLY LIVE ON 4K A MONTH ... AND YES i need a 3bedroom...in my prospect heights area a 3 bedroom is about 1900 a month.. my son is going to need his own bedroom e marey mini office
  12. 0
    On a salary of 73k per year, federal taxes (according to the 2007 numbers) as head of household is $13,431. Add to that social security and medicare of 7.35%=$5365. Added to that is state income tax of: $4430. Add to that a city income tax of: $2520. Total taxes on 73k would be: $25745 which is roughly 35%. This assumes filing as head of household. Got to love taxes.
    Also, want and need are very different thing. The original poster mentioned something about a mini-office, and wanting a car. Are these actual needs or wants. Making this difference is essential when living on a budget. Also, try different neighborhoods, rents in Brooklyn vary is huge amounts, even in nice neighborhoods.
    Last edit by bjlesm on Apr 5, '08


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