Friday, November 19, 2010

Approximately how much would I have to make a year to net 24,000 after taxes?

I am a grad student making 24,000 tax free dollars a year as part of my stipend. I was wondering about how much I'd have to gross per year to make that at a normal gig? Does the state make that much of a difference? Specifically I want to know how much I would have to net in California and Massachusetts to net that amount. Would it be about the same?? Thanks in advance!Approximately how much would I have to make a year to net 24,000 after taxes?
The states would make a difference but both MA and CA like to tax their residents pretty highly.



There is no easy answer to your question. It would depend on your marital status, whether you have any kids that you support, and how much your other deductions and credits come to. But you could go with roughly $30-$35K and net the $24K.



But you better check into your stipend a little closer. They may not be withholding any taxes, but that does not mean it is tax-free. Typically grad school stipends are fully taxable since you are working for them which makes stipend just another word for wages or salary.Approximately how much would I have to make a year to net 24,000 after taxes?
Depending on your deductions, between 30k %26amp; 34k

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