I earn 90K and I am interested in maxing out my 401K, HSA and ESPP. I am worried about how much I will be getting per paycheck . I reached out to HR and they are unable to pre-calculate my paycheck for me. Please can anyone help Annual Base: 90,000 Withholding: 1 Filing Single No state tax
Advise Advice is a noun
Aren’t there calculators online? What r we supposed to do, guess in our head for u?
Yo give a more bespoke answer need to know your state. Broadly, You should be able to use a tax calculator online (choose for your state). Take your gross and subtract 401k and HSA. This should determine your federal and state tax for the year. Subtract that and espp from your gross and that will give you annual take home. You can then divide by pay periods you have per annum for periodic pay. Itemized is similar just that you deduct it from gross income before calculating tax. Should give you a fairly close estimation. Something else to consider? Are you starting contributions today and planning to max it out or are you going to doing a prorate of that? If you’re planning a prorate you have to work out you contributions and use those to deduct instead. If you’re planning to max out you need to adjust this formula for payments received and taxes already paid.
I made that 2 years ago. I also maxed out ESPP, 401K but only $1500 in HSA. I did 20% pretax into 401k and 5% post tax. My paycheck came down to $1500 when all was said and done. No state income tax. I was able to max out the 401k using bonus money (didn't omit deductions during September time period) so that I can have a much larger paycheck for Christmas time for holiday expenses
Please was it 1,500 monthly or per pay check
Paycheckcity.con
There are paycheck calculators available. Just look at the one I posted...
State income tax?