EPTI live in Texas, and my boss just asked me to calculate my tax based on the following information:
1. I'm single.
2. I make $22 per hour.
I have never done this before (I used to be an undocumented immigrant.). How can I proceed!?
Help me keep my job!
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EsX_Raptor
United States2802 Posts
I live in Texas, and my boss just asked me to calculate my tax based on the following information: 1. I'm single. 2. I make $22 per hour. I have never done this before (I used to be an undocumented immigrant.). How can I proceed!? | ||
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TheBigO
United States97 Posts
Also, I don't think you gave enough information for people on TeamLiquid to answer. For example, what kind of taxes are you paying? Are you calculating your income tax, your payroll tax, or your property tax? There are many different types of taxes that you have to pay. Finally, unless you specify with more information, people cannot give you exact answers. This is important because the more information you give, the more tax breaks you can get. | ||
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EsX_Raptor
United States2802 Posts
I do not know what information I should provide, but I will disclose anything necessary. I am calculating income tax. I am also in an extremely time-sensitive position. | ||
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Masq
Canada1792 Posts
try selecting texas and enter your information that you know? you should really see an accountant though. | ||
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strongandbig
United States4858 Posts
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Chill
Calgary25991 Posts
There are ~2000 hours in a year, so if you work 40 hours a week you can estimate pre-tax income of 44k. I used http://www.tax-rates.org/Texas/income-tax-calculator $5,950 federal $0 state Based on recommended $3,800 personal deductions. This is very high level and I haven't verified any of these rates whatsoever. | ||
micronesia
United States24752 Posts
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Manifesto7
Osaka27156 Posts
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leftykill
United States120 Posts
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radscorpion9
Canada2252 Posts
On May 23 2013 09:49 leftykill wrote: his boss likes whips and chains LOL. I'm imagining it now | ||
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munchmunch
Canada789 Posts
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CecilSunkure
United States2829 Posts
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U_G_L_Y
United States516 Posts
Are you asking what he should be with-holding for you, or what you should be paying at the end of the year personally? If it is the latter, fill this out: http://www.irs.gov/pub/irs-pdf/f1040ez.pdf Assuming you are single, and you work exactly 40 hours per week with no vacation (2080 hours per year,) and no one can claim you as a dependent, and you don't own a home or have anything that you can/should itemize, your federal income tax liability would be $5,036. This is making a LOT of assumptions, and does not include State and local taxes, Medicare, or Social Security. Please be more specific about what he is asking for... | ||
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cujo2k
Canada1044 Posts
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Rollin
Australia1552 Posts
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CecilSunkure
United States2829 Posts
On May 23 2013 13:41 Rollin wrote: For $22 an hour I wouldn't be too concerned about losing your job. ?? For a lot of people it's really hard to get above minimum wage. Opportunity varies greatly by location. | ||
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Entirety
1423 Posts
On May 23 2013 13:55 CecilSunkure wrote: ?? For a lot of people it's really hard to get above minimum wage. Opportunity varies greatly by location. Similarly, it may be that he lives in an area with lower wages but a lower cost of living. $22/hour may not seem much to some of us, but it may seem like a lot to others. I know that $24/hour where I live is not enough to support yourself, but that same amount of money in a different state could afford much much more. | ||
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haduken
Australia8267 Posts
On May 23 2013 13:55 CecilSunkure wrote: ?? For a lot of people it's really hard to get above minimum wage. Opportunity varies greatly by location. Rollin is aussie? in down under you can get $22 per hour in any retail/supermarket/shitkicking jobs so I'm guessing that's why. | ||
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-Kaiser-
Canada932 Posts
$22/hr is twice what you'd find at a supermarket in Canada, and three times the States. Ftr, where the hell are you people living and what jobs do you have that $24/hr isn't enough for you to live? 50k/yr is fucking plenty. Learn to live within your means. You can live in Vancouver for 15k a year. | ||
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wherebugsgo
Japan10647 Posts
Rent around my university is routinely three to four times higher than rent near my home, for example (I live in MI, school in CA) | ||
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Capped
United Kingdom7236 Posts
On May 23 2013 15:39 -Kaiser- wrote: Australia also has the highest wages of any country on the planet. $22/hr is twice what you'd find at a supermarket in Canada, and three times the States. Ftr, where the hell are you people living and what jobs do you have that $24/hr isn't enough for you to live? 50k/yr is fucking plenty. Learn to live within your means. You can live in Vancouver for 15k a year. Was wondering how they couldnt live on 50k / year lol. | ||
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Aerisky
United States12129 Posts
On May 23 2013 15:28 haduken wrote: Rollin is aussie? in down under you can get $22 per hour in any retail/supermarket/shitkicking jobs so I'm guessing that's why. Ahh right, that's a good point. I remember Shock710 (where have you been bud? ;__; ) was talking about how a bricklayer could make nearly 6 figures or something, and that in general wages are really really high. | ||
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Tobberoth
Sweden6375 Posts
On May 23 2013 16:10 Aerisky wrote: Ahh right, that's a good point. I remember Shock710 (where have you been bud? ;__; ) was talking about how a bricklayer could make nearly 6 figures or something, and that in general wages are really really high. The US still has the highest averages wages in the world. Australia might just pay more for low-end jobs (just like Norway, tons of swedes move to norway to work in retail etc because they make a ton more money there). | ||
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Sekijitsu
United States47 Posts
On May 23 2013 15:39 -Kaiser- wrote: Australia also has the highest wages of any country on the planet. $22/hr is twice what you'd find at a supermarket in Canada, and three times the States. Ftr, where the hell are you people living and what jobs do you have that $24/hr isn't enough for you to live? 50k/yr is fucking plenty. Learn to live within your means. You can live in Vancouver for 15k a year. Can you really live in Vancouver for 15K a year? I ask because I really want to move there. I've been there a few times and its absolutely amazing. I just have a hard time believing anyone can live anywhere besides Mexico in North America for 15 K a year. I can tell you that 50K a year can be tough to live on in a place like Southern California whereas that same amount in a number of other states is more than enough to live comfortably. | ||
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-Kaiser-
Canada932 Posts
On May 23 2013 16:53 Sekijitsu wrote: Can you really live in Vancouver for 15K a year? I ask because I really want to move there. I've been there a few times and its absolutely amazing. I just have a hard time believing anyone can live anywhere besides Mexico in North America for 15 K a year. I can tell you that 50K a year can be tough to live on in a place like Southern California whereas that same amount in a number of other states is more than enough to live comfortably. I did it my year of school. Standard formula is like, somewhere between $500-$800 for rent a month in a basement suite, $300 a month for food. Another few grand a year in transit and leisure and miscellaneous expenses. Living on 15k definitely takes some deliberate frugality, but it's possible. I refuse to believe there's somewhere that 50k a year isn't enough to get by. Those people need to wake up. | ||
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Incze
Romania2058 Posts
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TheTenthDoc
United States9561 Posts
On May 23 2013 06:56 micronesia wrote: Why is your boss asking you to estimate your income tax? Wouldn't be surprised if it was the new immigration bill passing and his boss wanting to get all his ducks in row. | ||
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Butterednuts
United States859 Posts
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Aveng3r
United States2411 Posts
also why do you need to calculate this exactly? | ||
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MaestroSC
United States2073 Posts
On May 23 2013 17:20 -Kaiser- wrote: I did it my year of school. Standard formula is like, somewhere between $500-$800 for rent a month in a basement suite, $300 a month for food. Another few grand a year in transit and leisure and miscellaneous expenses. Living on 15k definitely takes some deliberate frugality, but it's possible. I refuse to believe there's somewhere that 50k a year isn't enough to get by. Those people need to wake up. Manhattan, New York City. We are talking studio apartments for 2-5K a month. I own a house in Southern Cali, 3 bedroom, and I make around 50k. 50k is plenty for single person outside of any major city. Also Australia's minimum wage is MUCH higher because the cost of living there is MUCH higher. all incomes are relative to their location. | ||
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-Kaiser-
Canada932 Posts
On May 24 2013 00:32 MaestroSC wrote: Manhattan, New York City. We are talking studio apartments for 2-5K a month. I own a house in Southern Cali, 3 bedroom, and I make around 50k. 50k is plenty for single person outside of any major city. Also Australia's minimum wage is MUCH higher because the cost of living there is MUCH higher. all incomes are relative to their location. If you can't afford a studio apartment, don't live in a studio apartment. I can't afford a studio apartment in Vancouver, so I don't live in one. | ||
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micronesia
United States24752 Posts
On May 24 2013 06:07 -Kaiser- wrote: If you can't afford a studio apartment, don't live in a studio apartment. I can't afford a studio apartment in Vancouver, so I don't live in one. What do you live in? The only thing I can think of that's reasonable but cheaper is a multi-person apartment where you all share the rent. Is that what you do? | ||
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MaestroSC
United States2073 Posts
On May 24 2013 06:12 micronesia wrote: What do you live in? The only thing I can think of that's reasonable but cheaper is a multi-person apartment where you all share the rent. Is that what you do? idk what is cheaper than a studio apartment. A house? No. A multi bedroom apartment? No. A Condo? No. The only thing cheaper is renting a room, which I would think 99% of the adult population dont strive to rent a room as their permanent residence, especially if they plan on having a family.... as much fun as sharing a room with your children would be. | ||
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renoB
United States170 Posts
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Masq
Canada1792 Posts
On May 23 2013 17:20 -Kaiser- wrote: I did it my year of school. Standard formula is like, somewhere between $500-$800 for rent a month in a basement suite, $300 a month for food. Another few grand a year in transit and leisure and miscellaneous expenses. Living on 15k definitely takes some deliberate frugality, but it's possible. I refuse to believe there's somewhere that 50k a year isn't enough to get by. Those people need to wake up. I'd like to see any sort of suite you can get for $500 lol. $500 will get you a shoebox of a room, I'd expect 1000-1400 for a half decent suite. | ||
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-Kaiser-
Canada932 Posts
On May 24 2013 06:24 MaestroSC wrote: idk what is cheaper than a studio apartment. A house? No. A multi bedroom apartment? No. A Condo? No. The only thing cheaper is renting a room, which I would think 99% of the adult population dont strive to rent a room as their permanent residence, especially if they plan on having a family.... as much fun as sharing a room with your children would be. On May 24 2013 08:54 Masq wrote: I'd like to see any sort of suite you can get for $500 lol. $500 will get you a shoebox of a room, I'd expect 1000-1400 for a half decent suite. I live in a basement suite by Joyce Skytrain for $625 (650 for couples). Two rooms. A good sized bedroom with a queen bed and plenty of room for furniture, and a living area with a full kitchen (including dishwasher), tv, couch, table and desk. My girlfriend currently lives with me as well and it's big enough that we have few space issues and our rent is only $325 each. | ||
LosingID8
CA10829 Posts
On May 24 2013 00:32 MaestroSC wrote: Manhattan, New York City. We are talking studio apartments for 2-5K a month. I own a house in Southern Cali, 3 bedroom, and I make around 50k. 50k is plenty for single person outside of any major city. Also Australia's minimum wage is MUCH higher because the cost of living there is MUCH higher. all incomes are relative to their location. you're exaggerating the cost of living in manhattan. you can get a studio for under 2k. if you're paying 5k for a studio, you're in one of the nicest areas/buildings in all of manhattan. i have plenty of friends living in 1 bedroom apts for under 3k. 50k is enough to get by in manhattan, although just barely. the residents at some of the local hospitals get paid 50k and make it work, you just have to be smart about your money. | ||
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Aveng3r
United States2411 Posts
On May 24 2013 11:48 LosingID8 wrote: you're exaggerating the cost of living in manhattan. you can get a studio for under 2k. if you're paying 5k for a studio, you're in one of the nicest areas/buildings in all of manhattan. i have plenty of friends living in 1 bedroom apts for under 3k. 50k is enough to get by in manhattan, although just barely. the residents at some of the local hospitals get paid 50k and make it work, you just have to be smart about your money. how do the other areas in nyc compare as far as you know? Ive often toyed with the idea of trying to live in ny | ||
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micronesia
United States24752 Posts
On May 24 2013 13:34 Aveng3r wrote: how do the other areas in nyc compare as far as you know? Ive often toyed with the idea of trying to live in ny It varies from section to section, but is generally cheaper (or much cheaper) than Manhattan. There are some spots I would recommend staying away from regardless of how low the prices seem, but they are in the minority by far. The county directly East of Queens (Nassau) is pretty expensive, as is the county due North (Westchester)! The New Jersey Neighborhoods near NYC aren't cheap either. I guess you've discovered the pattern... | ||
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Aveng3r
United States2411 Posts
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Thrill
2599 Posts
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