I am trying to build a calculator to see what my annual salary will be after taxes, deductions and 401k contributions, so I can see how much to invest once its all said and done, but I am not fully understanding how taxes work and when they are taken out prior to or before certain deductions.
I will be filing single and none.
- Gross Salary $66,560
- Live in Raleigh, North Carolina
- Take $12,000 standard deduction
- 401k $9,984
I had tried in excel, but according to online calculators I am wrong. I also am unsure if the standard deduction only applies to federal taxes. Could someone link or send over an excel file with some formulas or maybe explain further.
Thanks.
Submitted April 28, 2019 at 09:39AM by UrADaisyIfYaDo http://bit.ly/2V36ljs
