If I made 300k per year, how much would I actually TAKE HOME after taxes?

Question

Specifically in Oregon.

How much would I actually TAKE HOME after taxes, per year? If I made 300k per year.

and let's say you have 4 kids, and already OWN a home (aka, you already PAID OFF all the mortgage and stuff, and you completely OWN it, and let's say it's worth 600k).

Update:

also, would the amount you take home after taxes be GREATER if you have 6 kids instead of just 4?

Answer 1

Favorite Answer

An accurate answer is not possible without a lot more information. Few folks at that income level take the standard deduction even if they don't have a mortgage. If you did take the standard deduction your net after all taxes, FICA, federal, state and the Medicare surtax would be just under $210k. Claiming more children probably would not make much difference on your federal return as you are in AMT territory at that income level with that many children. It might be a little better at the state level, but I have not run the numbers.

If you want a more accurate answer, try this calculator: http://www.tax-rates.org/income-tax-calculator/?re...

Answer 2

In the region of 200k but there are many variables I'm sure there is a tax calculator online. If it was your own business and you had a lot of expenses wink wink maybe more

Source(s): Self employed

Answer 3

value of the home is irrelevant. Figure about 60% or about $180K. Yes, you would get slightly more if you had 6 kids.

Answer 4

no one can calculate these numbers,,, too many other factors.

ex: 401K, charities, municipal bond funds, income from investments