How much money do you take home after taxes in California at 55000 a year?

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You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc that they will have to withhold from your hourly pay or gross of 55000 for the year after every thing is withheld from your gross pay to equal your take home pay.
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Do you have to pay taxes on a 401k if you take the money out to reinvest in a home?

Answer . Because the money in your 401(k) has never been subject to income tax, all withdrawals for any reason will be taxed as ordinary income. Furthermore, if you take a premature (generally, under age 59 1/2) distribution from your 401(k) to purchase a home, the distribution will additionally ( Full Answer )

How much money does the united states take in taxes each year?

To collect over $2 trillion the IRS would like about an $11 billion for 2008. Will likely be budgeted for much less. See link for wish list budget, which also shows anticipated revenues. http://www.gao.gov/new.items/d07719t.pdf Note: 1 trill = 1,000,000,000,000 1 bill = 1,000,000,000 So i ( Full Answer )

How much money does the state of California spend on inmates a year?

$49,000 for one inmate; death row inmates are nearly twice that at $90,000. Security. $20,429. Medical services. $7,669. Parole operations. $4,436. Facility operations. $3,938. Administration. $2,871. Psychiatric services. $1,403. Food. $1,377. Education. $687. Records. $513. Voca ( Full Answer )

How much money can a single person make in one year and still get a tax refund?

The amount, high or low, of earnings makes no difference as to if you get a refund or if you have to pay more. The accuracy of what was withheld or (your required quarterly estimated payments) to what your taxable income (an amount that is different than earnings) will be is the issue. Someone ( Full Answer )

How much money can you keep in your bank account without the IRS taking it for unpaid taxes?

The IRS can take a dollar if they feel like it if you have unpaid taxes...and they can do it without notice. Well, they do have to give you notice. The IRS is required to send Letter 1058 to you, which will be titled "Final Notice of Intent to Levy and Notice of Your Right to a Hearing" before they ( Full Answer )

How do you take taxes out of tip money?

You will need to deduct your own taxes from cash tips. You can dothis by picking a certain percentage to take out and then put it ina safe or a bank account in case you have to pay in taxes for theyear.

How much money does a cook make a year in California?

It depends exactly where in California. Some make 10-20thousand a year while others can easily make over 100thousand in a year. Of course depending on where you go to work and of course your culinary skill level.

How much is inheritance tax in california?

California no longer collects inheritance tax. This law wasabolished in June of 1982. Any inheritance received is tax free inthis state.

If your gross salary is 55000 what would your take home salary be?

Your take home salary will vary depending on how many exemptionsyou can claim with the IRS. It also depends on what else is beingtaken out like uniforms or a 401K. The average take home pay wouldmore than likely be around 47,000 dollars a year.

How much is property tax in California?

The property tax in California can vary from year to year. However, to calculate the California property tax for one's home is quite simple. The tax can not exceed more than 1% of the home's value and can not increase more than 2% from the previous year.

What is the federal tax on 55000?

Do you really think that's all there is to it? Much more goes into the determination. See, that's why there are all those companies and software sellers with programs, etc, etc that do this for people, and entire professions with lots of busy people, many advertising to get your business, all those ( Full Answer )

How much would the taxes be on a 2 million dollar dream home in Sonoma California?

For Single filing status, 2008 tax is $678,597 (2million multiplied by 35 percent minus $21,403). For Married Filing Jointly, 2008 tax is $671,575 (2 million multiplied by 35 percent minus $28,425). For Head of Household, 2008 tax is $675,409 (2million multiplied by 35 percent minus $24,591). ( Full Answer )

How much does a doctor take home a year?

It varies among doctors. A doctor's take home pay depends upon his/her: . field of specialization (plastic surgeon, pediatrician, Obstetrician-Gynecologist, dermatologist, neurologist, psychiatrist, among others charged services to their patient with varying fee/s). . place of assignment/locat ( Full Answer )

How much do you take home per month after taxes if you make 57000 per year?

The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department. You should get the information from your emplo ( Full Answer )

How much do you take home after taxes if you make 57000 per year?

57000 gross income for the year your employer payroll department would be the only one that would know how they were required to withhold for all of the taxes and other amounts out of your 57000 gross amount for the year. Your employer payroll department should be able to help you determine the net ( Full Answer )

How much money can you gift tax-free to your son or daughter each year?

You can give $13,000 in 2009 (the number changes most years) without having to report it or file a gift tax return. If you give more than that, you have to file a gift tax return. The excess over $13,000 is subtracted from both your lifetime gift tax allowance and from your estate tax allowance. Onc ( Full Answer )

Do you have to pay taxes on money saved at home over a period of years?

When you first get money, if it is from a taxable source, you pay tax on it no matter where you plan to keep the money. Just because you plan to keep it at home doesn't make it exempt from tax. For example, if your employer pays you a salary, you have to pay taxes when you get your salary even if yo ( Full Answer )

If you made 12500 a year how much would you take home a month after tax?

The amount one pays as income tax depends on their TAXABLE income. It is a percentage of that income. The exact percentage used depends on the level of that income. Taxable income depnds on many things: Earnings from employment for sure, earnings from other sources (investments, government paymen ( Full Answer )

If you make 55000 a year how much is that monthly?

Since a year has 12 months, just divide by 12. Since a year has 12 months, just divide by 12. Since a year has 12 months, just divide by 12. Since a year has 12 months, just divide by 12.

You did 27000 a year how much money would you get from your taxes?

As a refund after you file your 1040 federal income tax return.You will NOT know the correct amounts until you complete your 1040 federal income tax return correctly. Your filing status, your age and how you made all of your gross worldwide income amount and if you had any sources of earned income ( ( Full Answer )

Who can take your taxes if you owe money?

The Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds, has been authorized by Congress to conduct the Treasury Offset Program. Through this program, your refund or overpayment may be reduced by FMS and offset to pay any past due child support, Federal agency n ( Full Answer )

How much money can a seventeen year old make without filing taxes?

A self employed taxpayer would be required to file an income tax return if business operation had a net profit of 400 and pay the social security and Medicare taxes that would be due plus any income tax that may be due after adding the net profit to all other gross income on the 1040 tax form and th ( Full Answer )

How much will taking out a pension affect next years taxes?

This would depend on your marginal tax rate and how much you have your employer contribute from your pay before income taxes that you will not have to report as a part of your gross wages for the year and pay any income on the amount until you reach retirement age and start receiving distributions f ( Full Answer )

How much money does a massage therapist make a year in California?

Depending on which part of California you are from. In the metropolitan cities like San Francisco, Los Angeles, San Diego, Santa Cruz etc.., You can make as minimum of 45 dollars an hour depending where you work. Each year you are given the choice to get another certificate, for example you have you ( Full Answer )

How much do you take home after taxes if you make 200000 a year?

You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc that they will have to withhold from your hourly pay or gross pay for the pay period. After the withheld amount for all ta ( Full Answer )

How much tax does the state of California take out of pay checks?

You do NOT have any taxes, or other amounts that will be taken out of your NET take home paycheck after it is issued to you. The employer payroll department would be the only one that should be able to tell you how much they will be required to withhold from your GROSS salary, wages, etc. for all ( Full Answer )

Is there a home exemption tax in California?

YES. The below information comes from the RETIREMENTLIVING com website California Property Taxes Property is assessed at 100% of full cash value. The maximum amount of tax on real estate is limited to 1% of the full cash value. Under the homestead program, the first $7,000 of the full value of a ( Full Answer )

How much money can you make before you have to take out taxes?

depends. if you have a really good job or a reaaly suckish job. if you have a really good job the tax people will probably increase your taxes so you barely keep any money. if you have a really suckish job you should either prepare to beg your parents for more money or get a cardboard box ready!

How much money do doctors have to take out for your taxes?

What work you do is largely irrelevant to your tax rate; all thatreally matters is how much you make, and the calculations arecomplex enough I doubt the details would be terribly useful to you.If you really need to know, hire an accountant, who should be ableto provide you with the proper value when ( Full Answer )

How much is 55000 per year a month?

There are 12 months in a year. So 55000 per year is the same as 55000 per 12 months. That is 55000/12 per month 4583.33 per month.

How much is California sales tax?

The California sales tax rate is currently 6.25% . However,California adds a mandatory local rate of 1.25% that increases thetotal state sales and use tax base to 7.5%. Depending on localmunicipalities, the total tax rate can be as high at 10.0%.