Hi

I will be going to be transferred to my holding company in Houston mid this 2008 and will like to know the estimated tax that I need to pay working there. The following are some of my information:

1. I am a Singapore Citizen
2. I am married with 2 children (4 and 2 years old). My family will join me in US early 2009. My wife will not be working.
3. My annual estimate income will be about 80,000 to 120,000.

I need to know the estimated tax payable (or the effective tax rate).

Thanks for your help in advance

You will pay 6.2% in Social Security taxes on the first $104,500 oo earned income.

You will pay 1.45% in Medicare taxes on all of your earned income.

You will pay about 20% in federal income taxes.

Texas has NO state income tax, so you lucked out there.