Dear all,

I've been offered with $80,000 per annum for working in New Jersey, USA. This is a long term assignment. I hold L1B visa and my wife & my kid will be living along with me. Can anyone help me out in tax calculation. How much I will get in my hand after tax deduction.

Regards
Jeeva

You will be filing jointly with your wife and claiming your child as a dependent. That will require you file Forms W-7 with your FIRST tax return to get your wife and child Individual Tax Identification Numbers (ITINs). You will be in the 15% tax bracket if you file jointly.

You will also pay NJ state income tax. Go to this link for the tax rates: http://www.taxfoundation.org/taxdata/show/228.html

You will also pay FICA (Social Security @ 6.2% and Medicare @ 1.45%) at the percentages noted. For 2011, the Social Security rate has been reduced to 4.2%, and that rate MAY apply for 2012 as well.

If you need professional help filing and applying for the ITINs, contact me at [email protected]. This IS what I do!

Hi,

Thanks for your reply.
Is ITIN required if I have SSN for my wife and child.
Please clarify.

Regards
Jeeva

If your wife and child already have SSNs, then the ITIN will NOT be required.