Ask HN: How are taxes/deductions in the Valley?

https://news.ycombinator.com/item?id=2191456

by vette982 • 15 years ago

1 3 15 years ago

news.ycombinator.com

I'm going to be moving to the Palo Alto/Mountain View area in May to start an internship. I'll be making close to $15/hour and I'm wondering how much of that will be deducted for taxes or other reasons? Also, in Canada (I'm from Toronto) there are TD1 tax forms that students who are still in school and paying tuition can fill out to lessen their tax deductions. Is there anything similar in California?

Any help is appreciated! I've never been to California and I can't wait to move out there. Also, does anyone have advice on finding a cheap place to live for one person in the Palo Alto/Mountain View area?

mkinnan• 15 years ago

For a general, slightly overestimated rule of them ... expect to bring home ~60% after taxes, health insurance, etc.

camz• 15 years ago

Depending on your stautus the tax could be worse. If you're coming over as a student then it's going to be rough because you're basically going to be getting zero deductions or ways pay less tax. If you're coming over on q TN1 or a H1B. Then you could file as a resident after 183 days and take the same tax deductions and savoys as a majority of all the other Americans.

Hope this helps

guyzero• 15 years ago

Like Canada you can tweak the amount of deductions on your paystub but you'll owe the same amount in the end. You'll file both US and Canadian taxes for 2011 which is slightly complex but you won't get double-taxes for the most part.

You'll pay roughly 6% CA state tax, 15% US federal tax plus medicare and a few other small items that I never know how to calculate.

As for places to live, ye olde Craigslist or your university housing service if interns from your school regularly get jobs in the valley.

Ask HN: How are taxes/deductions in the Valley?

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