Ok so this may be a stupid question but how much is actually taken out of your paycheck for taxes? I'm trying to make my budget right now but don't know how much money I'll actually be bringing home. I'll be making about 40,000 on paper so how do I figure out how much I'll lose to taxes and how much I'll actually make per month? Then when I go to do taxes after my first year of residency will I most likely be getting back money? Honestly I've never had a job before so I've never dealt with any of this but I want to be prepared for next year. Thanks!