How much money will I make after texes/insurancse?

Question

I live in minnesota and I just got a job where I will be making $34,000 anually. My health/dental/life insurance will cost me about $85 per month. How much money can I expect to make after all of the taxes/insruance costs? Thank you

Answer 1

You didn't mention whether or not you are married or have dependents. But here's an estimate.

$34,000 / 12 = $2833 per mo. gross pay.

$2833 - $85 for insurance = $2748

7.65% FICA and Medicare

20% approximate federal income tax

6.07% average state income tax

$2748 X 34% = $934

$2748 - $934 = $1814

Your net pay will be in the neighborhood of $1814 per month.

Your weekly take home will be about $418, give or take.