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Old 08-16-2016, 02:00 PM
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Question If my annual salary is 80,000, how much should I expect to be deducted in taxes?

I'm being interviewed for a financial advisor position and I did some research; the median income is approx. $80,000 annually. This will be my first career. Before this I mostly just waitressed, but I used to manage a restaurant and maintained a GPA of 3.94 in college. I just didn't get a chance to receive a degree due to personal circumstances. My question is if my annual income is 80,000...how much should I expect to actually bring home after taxes? I live in Horsham, Pennsylvania and have two children and will be working in Blue Bell or Bethlehem (hopefully). Just wondering if anyone is out there and if you're willing to help me out. Thanks!



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Old 08-18-2016, 12:39 AM
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It is hard to say in simple terms. ; it depends on a lot of other factors like did you have any other income or filing status , deductions or credits and if you itemize deductions on SCh A of 1040. You will usually need to add your income and then subtract any allowed deductions and credits. This will leave a figure that represents the amount of money on which you must pay taxes. Finally, you may need to apply a percentage as provided by the taxing agency by multiplying your AGI by the tax percentage rate. The answer would be your liability



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