How do i calculate my fortnight salary?

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dkpwalker

dkpwalker

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hey fellow posters:

I am an IMG and therefore unaware of the kinds of taxes that are deducted from a residents' salary. I will be taking up a PG1 post in new york in july and the salary is $50,176. How do i calculate what my fortnightly salary will be? I have always been used to living on a budget and so any response will be greatly appreciated. Thanks guys.
 
If you have no external income, and you're single, the 2007 tax brackets for that salary are as follows:

If taxable income is over: $31,850
But not over: $77,100
The tax is: $4,386.25 plus 25% of the amount over $31,850 (from the IRS website here: http://www.irs.gov/formspubs/article/0,,id=164272,00.html )

So you'd be taxed $4,386.25 + 0.25(50,176-31,850) = $8,967.75 a year. Figuring that you get paid every 14 days and that you'll only work for half of 2008, each paycheck would be about:

(50,176 - 8,967.75)/26 = $1,584.93

I should add that I have no idea what your state taxes will be, nor what deductions you'll be taking, or if you have to pay any tax in your home country.
 
dkpwalker said:
hey fellow posters:

I am an IMG and therefore unaware of the kinds of taxes that are deducted from a residents' salary. I will be taking up a PG1 post in new york in july and the salary is $50,176. How do i calculate what my fortnightly salary will be? I have always been used to living on a budget and so any response will be greatly appreciated. Thanks guys.
Click to expand...

There are fairly heavy state taxes in New York. Oh, and if you work within New York City, there's a city tax as well. Nice.

My intern year salary was about $46,000. My take home fortnight paycheck was somewhere between $1,100 and $1,200, I believe. Not much more than that.

Yeah, I know... It sucks.

Welcome to the Big Apple!
 
Blade28 said:
If you have no external income, and you're single, the 2007 tax brackets for that salary are as follows:

If taxable income is over: $31,850
But not over: $77,100
The tax is: $4,386.25 plus 25% of the amount over $31,850 (from the IRS website here: http://www.irs.gov/formspubs/article/0,,id=164272,00.html )

So you'd be taxed $4,386.25 + 0.25(50,176-31,850) = $8,967.75 a year. Figuring that you get paid every 14 days and that you'll only work for half of 2008, each paycheck would be about:

(50,176 - 8,967.75)/26 = $1,584.93

I should add that I have no idea what your state taxes will be, nor what deductions you'll be taking, or if you have to pay any tax in your home country.
Click to expand...

Wow, that really sucks.. but thanks nonetheless.
 
Blade28 said:
If you have no external income, and you're single, the 2007 tax brackets for that salary are as follows:

If taxable income is over: $31,850
But not over: $77,100
The tax is: $4,386.25 plus 25% of the amount over $31,850 (from the IRS website here: http://www.irs.gov/formspubs/article/0,,id=164272,00.html )

So you'd be taxed $4,386.25 + 0.25(50,176-31,850) = $8,967.75 a year. Figuring that you get paid every 14 days and that you'll only work for half of 2008, each paycheck would be about:

(50,176 - 8,967.75)/26 = $1,584.93

I should add that I have no idea what your state taxes will be, nor what deductions you'll be taking, or if you have to pay any tax in your home country.
Click to expand...

You forgot another 7.5% in FICA withholding. 😱
 
Based on if you're filing singly with no exemptions or other witholdings, a salary in NYC of $50,176 would pay out as follows:
Bi-weekly Gross Pay $1,929.85
Federal Withholding $321.85
Social Security $119.65
Medicare $27.98
New York $98.55
NY SDI $1.20
City Tax $58.57
.
Net Pay $1,302.05

You can personalize the calculation at http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp

It seems like NYC gouges you! Too bad three of my top five are all in NYC. 🙁
 
MonkeyRalph said:
Based on if you're filing singly with no exemptions or other witholdings, a salary in NYC of $50,176 would pay out as follows:
Bi-weekly Gross Pay $1,929.85
Federal Withholding $321.85
Social Security $119.65
Medicare $27.98
New York $98.55
NY SDI $1.20
City Tax $58.57
.
Net Pay $1,302.05

You can personalize the calculation at http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp

It seems like NYC gouges you! Too bad three of my top five are all in NYC. 🙁
Click to expand...

oh wow, i better find me a cheap *** apartment then cos it looks like if i don't i may as well live under a bridge like a trolll with the chicken feed we will get paid..
 
MonkeyRalph said:
It seems like NYC gouges you! Too bad three of my top five are all in NYC. 🙁
Click to expand...

Yeah... The "I don't need sex, NYC f**ks me everyday" thing here applies broadly.

Really? Three of your top five are here in Gotham? I gotta say, although I think New York is one of the greatest towns in the world (and I'd love it here if it weren't for the crummy weather some winters), the training programs are generally an exercise in torture and scut. Especially in General Surgery, EM, and IM.

I believe firmly that there are far better training prorgams out there, no matter which institution you're talking about: Columbia, Cornell, NYU, Sinai, etc.
 
Does anyone know when you can expect your first paycheck once you start residency?

Is it like other jobs where you may have to work 3-4 weeks before seeing your first check?

Thanks
 
nattygann01 said:
Does anyone know when you can expect your first paycheck once you start residency?

Is it like other jobs where you may have to work 3-4 weeks before seeing your first check?

Thanks
Click to expand...

Yes, usually...but typically program dependent. You may get your first paycheck on the 15th (depending on whether or not you are paid on the 1st and 15th or every two weeks), but it will only be for 1 week of work (as the pay period usually closes one week prior to payday).

Check with your program.
 
Castro Viejo said:
Yeah... The "I don't need sex, NYC f**ks me everyday" thing here applies broadly.

Really? Three of your top five are here in Gotham? I gotta say, although I think New York is one of the greatest towns in the world (and I'd love it here if it weren't for the crummy weather some winters), the training programs are generally an exercise in torture and scut. Especially in General Surgery, EM, and IM.

I believe firmly that there are far better training prorgams out there, no matter which institution you're talking about: Columbia, Cornell, NYU, Sinai, etc.
Click to expand...

I thought Chicago was Gotham.

[edit] After some research I find that I am wrong. I am pretty sure that the new Batman movie was filmed in Chicago, however.
 
TRAMD said:
I thought Chicago was Gotham.

[edit] After some research I find that I am wrong. I am pretty sure that the new Batman movie was filmed in Chicago, however.
Click to expand...

As you pointed out, Gotham is a nickname for New York City first coined by Washington Irving.

The recent Batman movies have all been filmed in Chicago, however. "Wayne Tower" is the Chicago Board of Trade building.
 
Castro Viejo said:
As you pointed out, Gotham is a nickname for New York City first coined by Washington Irving.

The recent Batman movies have all been filmed in Chicago, however. "Wayne Tower" is the Chicago Board of Trade building.
Click to expand...

I thought I heard that in the DC universe Gotham is more akin to Chicago. I wonder if this is because they are letting Metropolis be New York.
 
"Batman's Gotham City is Manhattan below Fourteenth Street at eleven minutes past midnight on the coldest night in November."
while Metropolis is akin to NYC during the day.
 
MonkeyRalph said:
"Batman's Gotham City is Manhattan below Fourteenth Street at eleven minutes past midnight on the coldest night in November."
while Metropolis is akin to NYC during the day.
Click to expand...

Sweet, that clears things up.
 
No, the DC Universe always dealt with coastal cities in the Northeast ("BosNYWash") Corridor. Chicago never really figured into being portrayed in any of the DC comics. Metropolis is another fictional town inspired by New York, though it was known to be separate from New York in the comics and was within commuting distance to Gotham City (which was also known to be separate from New York City in the comics). It's actually quite confusing as the cities and their relation to New York tended to change through the years. From what I last remember, Gotham City was supposedly somewhere in New Jersey. :scared: That's enough of a reason to never want to visit. 🙂

Anyway, this is what Wikipedia has to say about this stuff...

Gotham City:

http://en.wikipedia.org/wiki/Gotham_city

Metropolis:

http://en.wikipedia.org/wiki/Metropolis_(comics)

I'd love to meet the guys (or really fugly gal) who wrote this up! 👍
 
I am a fan of Batman but my son's name is Clark if that gives you any idea which superhero is my favorite. My favorite book, however, is the Supreme Power series (Contact, Powers and Principalities, High Command); a Marvel take on a Superman-esque character, Hyperion.
 
Batman's my favorite, but I don't think I would name my kid Bruce. But way to go with the fan devotion!

I might name my kid Bernie, Derek, Don, Joe, or Hideki. 🙂
 
Blade28 said:
Oh my god. 😱

Or you could name your kid Roger, Andy, Chuck, Kevin, Jason, David, Gary, Mike or Rondell.

Oh wait, they all cheated.
Click to expand...

Touche!

You could consider naming your kid Tom, but then he'd be a big friggin' loser.

😉
 
Castro Viejo said:
Batman's my favorite, but I don't think I would name my kid Bruce. But way to go with the fan devotion!

I might name my kid Bernie, Derek, Don, Joe, or Hideki. 🙂
Click to expand...

The funny thing is that I have two sons and my dad's name is Wayne and my wife's dad's name is Kent . . . Too bad I don't like the name Bruce or we could have gone with Clark Kent and Bruce Wayne and said that their middle names were just after their grandfathers' names.
 
TRAMD said:
The funny thing is that I have two sons and my dad's name is Wayne and my wife's dad's name is Kent . . . Too bad I don't like the name Bruce or we could have gone with Clark Kent and Bruce Wayne and said that their middle names were just after their grandfathers' names.
Click to expand...

That would have been awesome! 👍

Clark Kent Stiffler and Bruce Wayne Stiffler! Or...er...not Stiffler, but Tra. Ra. A. Whatever your last name is.
 
Blade28 said:
That would have been awesome! 👍

Clark Kent Stiffler and Bruce Wayne Stiffler! Or...er...not Stiffler, but Tra. Ra. A. Whatever your last name is.
Click to expand...

It starts with 'A' and is the most common last name in America that starts with the letter 'A'.
 
:laugh: Agrawal....:laugh::laugh::laugh: I was so bored and I actually read this thread....had no idea of the pearls it contained...
I'm a Batman fan myself. And when I got to Chicago, I was like, whooooaaaa...Gotham lives. I loved the Superman-Batman conglomeration...though I really prefer Dark Knights to Goody Boys.
I know somebody who named his kid Greyson Parker....after Dick and Peter. I thought that was kinda cute...
 
TRAMD said:
Aren't these first names?
Click to expand...

Can be. Can also be surnames, from my understanding.

I know a guy named Akhbar Ahmed and Ahmed Ahmed. And, on that note, a Mohammed Omar Mohammed (I call him "Mo Mo").
 
OldPsychDoc said:
In my part of the world, that would be "Anderson".
And I've got to say, your avatar looks like a couple of Andersons...😀
Click to expand...

I thought it was "Adams," actually.

... Or, because of your avatar, Aryan.
 
Adams seems more likely.
 
I hope that you used a search function rather than looking through that list to find that.
 
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