- June 10, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Post Graduation Tax Advice
I am seeking advice regarding the tax implications of post-graduation income in two different states, Bethesda, MD, and Arlington, VA, that will be relevant on July 15th, 2024. The comparison involves a salary of $94,000 per year, paid biweekly, along with a sign-on bonus of $20,000, which will not be net of taxes and will be received on the second paycheck.
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The AI Legalese Decoder can assist in providing a detailed breakdown of the tax burdens in Bethesda, MD, and Arlington, VA, based on your income and the sign-on bonus. By analyzing your specific financial situation, the AI Legalese Decoder can offer insights into how much net pay you can expect to receive after taxes are withheld, taking into account both your regular income and the bonus. This tool can help you make informed decisions regarding your post-graduation finances and ensure that you maximize your earnings.
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****** just grabbed a
you can google search cost of living and tax implications for both. And there are calculators to estimated gross paychecks.
You can use this calculator. Just change the residence location.
* https://smartasset.com/taxes/income-taxes
Hi OP! I live in Northern VA and have travelled a lot in the DMV area (DC, Maryland, VA). I believe you would save a little in taxes in Bethesda, but if you’re young, the best “going out” and restaurant scene that is walkable is in Arlington & Alexandria.
which state will you be working in? I’d imagine that both are DC metro so they are pretty similar
I believe income tax is a little lower in NOVA, but you should also factor in that VA has a car tax and MD does not and how that applies to you. MD, VA, and DC have reciprocal tax agreements with each other, so regardless of where you work, you will be taxed based on where you live