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Christopher Phelps
Christopher Phelps, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2710
Experience:  CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member
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I make 36,000 dollars a year now as a single man with no ...

Resolved Question:

I make 36,000 dollars a year now as a single man with no dependants...after taxes my take home Pay is 535 and some change...I have recently been offered a position that is Paying 50,000.00 but with the new tax bracket, and benefits, I'm not sure if I'll be taking home anymore than I'm already making now...can you help me with this..so that I can better negotiate my new salary.

Optional Information:
Pittsburgh, Pennsylvania

Already Tried:
I've looked up info online but it's not that clear.





Submitted: 8 years ago.
Category: Tax
Expert:  Christopher Phelps replied 8 years ago.

Assuming you have no dependents and that you use the standard deduction I would estimate that your Federal and PA income tax liabilities, based on a $36k salary, are about $4,900. After FICA withholdings that leaves about $28,000 after-tax income in your current job.


Assuming the ony change you make is to increase your compensation to $50,000, your after-tax income (i.e. after federal and PA income taxes and FICA withholdings) will be about $37,500. That means the $14,000 pay increase translates roughly into an additional $9,500 after all applicable taxes (e.g. not including any city tax).


Because it is impossible for me to identify and consider ALL the relevant facts, this advice is not intended or written to be used for the purpose of avoiding penalties, and cannot be used for that purpose.

Christopher Phelps, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2710
Experience: CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member
Christopher Phelps and 7 other Tax Specialists are ready to help you
Customer: replied 8 years ago.
I do believe that benefits will come out of this also....Now would I want to negotiate my offer higher so that benefits and city taxes won't kill me?

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Christopher Phelps
Christopher Phelps
Tax Professional
2710 Satisfied Customers
CPA, CFP, PFS, Tax Practitioner 21 Years, Member AICPA/CSCPA Tax/Financial Planning Committee Member