 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Total taxes on OPT period for F1 student in San Diego, California
Hi,
I am working for a consultancy company here in San Diego. They will be paying me $35/hour . Now considering the normal hours worked per week are 40, can anyone calculate or let me know the total in hand I will be getting per month. My payment is made bi-weekly. I know I do not have to pay Medicare and Social Security taxes. But I want to know an approx amount that I would be getting per month or per paycheck(bi-weekly) if I want to continue with this consultancy. Thanks a lot in advance. (This is for the state of CA) |
||||
|
|
|
||||
|
Your annual pay is about $70,000 per year.
Assuming you are single and from India (which allows you to claim the standard deduction), you annual federal income tax liability is about $11,000 and your California tax liability is $3,650. Exactly how much is WITHHELD from each paycheck depends on how you complete the Form W-4 for the federal tax and the California equivalent form for the California tax. |
||||
|
|
|
||||
|
Can you help me understand exactly how that works out. Here are my calculations
$35/hour * 40 hrs/week = $1400 per week. Now there are 52 weeks in a year , so $1400 * 52 = $72800 per year. You are saying it is about $70,000. I assume you are incorporating holidays and all ? Am I correct in thinking ? I have already filled my W4 form and submitted to my employer. I have put only 1 as the # of allowance claims in box 5 . No other claim exemption. I am single and no dependents. Am I right uptill now ? |
||||
|
|
|
||||
|
I am also subject to California SDI. Did you take into account that also. If not , how much of a charge they are per month ?
|
||||
|
|
|
||||
|
No, I did NOT consider SDI, as I did not know the withholding rate.
|
||||
|
|
|
||||
|
I am curious as to how you came about $70 000 being my annual pay ?
|
||||
|
|
|
||||
|
Your exemption on the W-4 of ONE with SINGLE status is exactly right.
The $70,000 figure is $35 per hour X 2000 hours (roughly what everyone works in the U.S. in a typical year). |
||||
|
|
|
||||
 Originally Posted by AtlantaTaxExpert
|
||||
|
|
|
||||
|
Glad to help!
|
||||
|
|
| Question Tools | Search this Question |
Check out some similar questions!
I have a niece that is 10 yrs old she lives with her grandmother because her mother is a drugaddict and keeps going in and out of jail as far as I know the grandmother has custody the other day my sister dropped her off and there were people doing heroin outside her door and smoking marijuana and...
Hi I'm an Indian student on OPT. My pay is 75,000 per year. I'm single. This is the pay slip for 2 weeks. Gross pay: 3,125.00 Standard Deductions: ----------------------------------------- Federal Income: -514.27 Social Security: -131.25 Medicare: ...
Hello, I am a Contractor working in California and want to know how much my tax rate should be, since I am on OPT. How much federal tax (%) and State Income Tax (%) should I pay monthly if I earn about $30/hr considering 40hrs/week. Please provide breakdown if possible. Thanks, Whabi
I am desperate. I need to do a Motion to set aside judgment in san diego, superior court, and don't know where to get the Form. My hearing will be in march 26.. I did not do anything wrong, I am not citizen, don't know about law, but the maanager told a lie about me, and the compnay ask the judge...
What is the distance between studio city, ca. and san diego, ca?
View more questions Search
|
