Moving from Mid west to Irvine, California. Heard California taxes take away 50%. Can i survive with 90k as a single person. Major expenses: Rent+utilities, car payments, food, gas, miscellaneous. If i earn 90k base how much will i pay in taxes? I can think of Fed+state+local+fica, what other taxes?? Tc: 90k + 10k(one-time) YoE- 1
There are many of online calculators and tools that help you with making an informed decision about the amount of money you will save after taxes and living costs
50% rofl. The max ca income tax is 12.3% on anything over 700k. Food is also tax free. You can live but will also quickly earn a lot more than 90k.
Irvine is expensive. I don't mean to ruin your parade but you're likely going to be spending roughly 3x as much a month on fixed costs like rent and groceries
:( 💵 💸
Anything that costs 10$ will atleast cost 12$ in California. So ya 20% extra of your already taxed income, so lets assume 30%. And extra 6% of actual state income tax. So about extra 35% you will pay for living in California
Makes sense
Are you seriously asking if you can survive on $90k…? As a single person? This app is wild
Bear in mind that the income spectrum in California is much wider. I personally pay around 50% of my income to Federal and state taxes. If you want an actual breakdown, just Google paycheck calculator, and type in your numbers. You can make 90k in California, but it's going to feel more like earning 50k in the Midwest just due to cost of living. I pay $36,000 a year in rent! On the other hand, 90k is very much starter wages in California tech. You can easily double or triple that, between promotions and Job hopping negotiations. TC: 430k
Thanks
For CA your state + fica + federal taxes will be about 26% or $24k on filing single with $90k. So with $66k take home pay you should be okay with monthly $5500 as long as you don't have major expenses & waste money. Try to get a roommate to save on rent if going for apt or rent a room in a house. Try to meal prep but enjoy going out time to time. Looking back one major regret i have from my 20's is trying to keep up with social life with bars, clubs, restaurants and dating.
Thanks for the info. Yup trying to get a roommate to cut down on rent. Rents are sky high in irvine even for a studio
Do your research (not hard to find) CA tax rate is NOT 50%.
You are in for a bad surprise
What should i expect?
A kid 1 year out of school making 90k base is already doing better than half of American households. Op is going to have a hell of a good time.