Tax Info in USA

M

mohankiran1982

New Member
Hi
I am new to USA and My employer stated that My pay would be 55k and I would like to know how much should I pay for the tax and how much would I get in my hand and I work in MI. I want the possible ways I could pay the least tax and can I have any suggestion on that please, and what should I do if I need to get back more amount as Tax return, Like the savings etc and other stuff.........plz help.

Thanks
Mohan
 
I'll try to reply the part of your questions that I understood.
You can expect to get about 60-70% of your gross income as take home. I.e. if you make 10 dollars, you can expect to take home about 6-7 dollars. From what country are you citizen of? that matters if there are tax treaties, that is the only way I can think of for saving a bit on taxes.
The only other way to not "pay" as much taxes is to make use of the pre-tax deductions (i.e. 401K, IRAs, HSAs, etc) but most of that is just a deferred tax, not really avoided.
 
You must log in or register to reply here.
Top