[ANNICK]

Hi, I'm moving to Altanta, GA and my company is offering me a salary of $150.000/year as a gross salary. Im head of the household and have 1 child. Can you tell me how much approximately my total net income (cash in my pocket) would be over that year.
I need an answer asap, as they expect my answer today!

[AtlantaTaxExpert]

Only about $106,000 of the salary is subject to the 6.2% Social Security tax, so that tax liability will be $6,572.

There is NO cap on the 1.45% Medicare tax, so that tax liability will be $2,175.

No Child Tax Credit for that level of income.

Your marginal tax bracket (tax on the LAST dollar earned in 2009) is 28%, so your federal income tax will be about $29,000.

Your Georgia tax liability will be about $8,400.

So your net income will be just under $104,000, give or take a thousand.

Take the job!

A $100K net income in Atlanta will buy you a nice house in any number of suburban communities or a nice condo in Atlanta proper, or you can rent the first few months and go shopping among the foreclosed properties in Atlanta and get a REAL bargain while waiting out the probationary period of your job.

[Five Rings]

Now that's what I call a thorough answer!