How much do i take home after taxes
Anonymous wrote: Just curious. Between my husband and I we usually have about $6000 a month in take home pay, after taxes and health care costs but before taking out any 401k or savings. I'm in the military so part of my paycheck is not taxed since it's a housing allowance. According to my pay stubs I only make about $60,000 a year, but I'm assuming in the private sector you have to make a lot more than that a year to have that take home pay.
Any ideas? I'd like to know what I'd need to make in a non-military job to get the same take home pay per month.
OP, not sure if you've provided enough information. Do you want to know how much you would need to make to take home $6K a month on
your salary alone, or your salary combined with DH's? It sounds like your gross salary is $60K, but you haven't said how much of that you take home. Is DH planning on switching jobs as well? Will you be able to continue getting health benefits from the military or through DH, or is that something you will need to deduct from your paycheck? Do you currently save for retirement and will you want to do so once you switch jobs? Are you planning on buying a home once you no longer get a housing allowance? (That will give you additional tax deductions.) Do you regularly take advantage of other military cost-saving benefits, like shopping at the PX? All of these things will factor into the picture.
ROUGHLY speaking, I would calculate 35% of the amount of your housing allowance, add that to $60K, and that's what you will probably need to make.Source: www.dcurbanmom.com