take home salary during residency - sampangi04

[ArchivalUser]

Can anyone plz give some info regarding that?

thanks

[ArchivalUser]

my net income during my last year of residency was $2,600 per month in a university hospital with average compensation.

[ArchivalUser]

Eg, If you are receving &48,000 and you are in East coast, where you pay state, federal and social security. What will be the take home per month. Please help

[ArchivalUser]

there is flat 25% tax. After taxes it would be between 2600$ to 2800$ majority of the programs in east cost.

[ArchivalUser]

divide your annual salary by 14, that's gona give you a rough estimate of what you will get per month.

[ArchivalUser]

@ have_faith

Not true . For eg: average salary for university program in South is 42, 000 to 43, 000. If this is divided by 14, then we get $ 3000/month. Unbelievable and not correct. In reality, the monthly salary is much less than that !

[ArchivalUser]

that's why i said it's only a rough estimate. it depends on which state also. i'm not sure though if it also depends on what type of visa you get.

[ArchivalUser]

Adding SS Tax+Federal Tax+State Tax+Local Tax would come around 28%.

42,000/12 Months --Add 28% Tax= Around 2500 take home

[ArchivalUser]

http://www.paycheckcity.com/netpaycalc/n...ulator.asp

[ArchivalUser]

Dude,

You can figure it pretty close regardless of where you are, the taxes will be about 1/3 of your pay, maybe a little bit more but not any less, then at the end of the year, you may be able to get some back, (maybe).

California and other heavy tax states it's closer to 40% taken out. So if you figure 40% anything you get more than that is a gift from God, if you are Asian. For Americans it just luck.

Cheers.