How much would one need to earn annually to have 225k AFTER taxes?

College Confidential Community
1

<p>How much would one need to earn annually to have 225k AFTER taxes?
I think that $300,000 might be appropriate but unsure.
This would be either in GA or FL</p>

2

<p>One million dollars.</p>

3

<p>Do you believe that $225,000 in paper money is actually worth $225,000? If so, why? If not, why not? Is it worth more? Is it worth less? Discuss.</p>

4

<p>I just need to know what amount a person would need to earn annually to have $225,000 after taxes have been taken out. Thank you</p>

5

<p>depend on what state you live. they have different state income taxes. google it. im sure you can do basic math.</p>

6

<p>[Let</a> me google that for you](<a href=“http://lmgtfy.com/?q=Georgia+Income+Tax]Let”>http://lmgtfy.com/?q=Georgia+Income+Tax)</p>

7

<p>You would only have to earn $225,000 of tax-exempt interest to have $225,000 after taxes.</p>

<p>Now, if you were talking about w-2 income, then it would have to be around $375,000, depending upon your state (ss tax, state income tax, federal income tax, single, standard deduction). $400,000 if you are self-employed.</p>

<p>This will estimate the Federal portion of your taxes:
[Federal</a> Tax Estimator](<a href=“http://www.1040.com/site/taxtools/federaltaxestimator/tabid/227/default.aspx]Federal”>http://www.1040.com/site/taxtools/federaltaxestimator/tabid/227/default.aspx)</p>

<p>but, you also have to account for Social Security Tax, and State Income Tax.</p>

8

<p>Thanks Opera dad, according to my estimates, it would be around $350,000 in a state without state income tax (TX, FL, or NV)</p>