Income tax question ?

Question

I just started a new job that pays 35,500 gross/year - I'll probably claim quite a few dependants just on my w-4 to keep some extra money in it, and pay the rest later but I dont have any investments or anything like that. I live in california. How much can I expect a month NET after California state and federal taxes? Thx.

Answer 1

Hey

Check out the link below for all the info you need.

Good luck on your new job!

Answer 2

Follow the instructions on the W-4.  Typically if single with 1 job, you are not a dependent, and do not have significant deductions or other income, you would claim 2 allowances.

If you claim too many allowances and owe more than $1000 tax at filing time, there may be an under withholding penalty.  Claiming more allowances than reasonable can also result in a fine.  Under withholding may differ for state tax.