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A comment on How I negotiated a software-engineering job offer in Silicon Valley. Parent comment

Re:How I negotiated a software-engineering job offer in Sili... by dmode on Friday February 01, 2019 @03:35PM (#19058269)
This math is remotely not accurate. 42% tax rate ? Tax rates are progressive. I made a whole lot more last year and my effective Federal + State was 28%. Remember, there are a ton of deductions available. $6k in rent ?? Who pays that ? I have a large house and my mortgage payment is close to 4.5k. And I am building massive equity on my home as well as paying down an expensive asset. Home insurance is $1k for the whole year, while health insurance is roughly $250/month for the whole family. If you play your cards right, you can save upto 200-300k in 3-4 years. Now here's the cherry on top. Add a partner who makes the same amount.
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Re:How I negotiated a software-engineering job offer in Sili... by matchagaucho on Friday February 01, 2019 @03:42PM (#19058376)
Enter $300K into https://smartasset.com/taxes/income-taxes

Take home pay for CA is $185K

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Re:How I negotiated a software-engineering job offer in Sili... by dmode on Friday February 01, 2019 @04:53PM (#19059082)
I entered "married" in the same calculator and it gives me a 29.75% effective rate and 210k take home. If your math above is for a single person, I haven't met anyone who is paying more than $2500 in rent. $6k for a single person is way out of range.
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Re:How I negotiated a software-engineering job offer in Sili... by nomel on Friday February 01, 2019 @11:53PM (#19061172)
> I haven't met anyone who is paying more than $2500 in rent.

Out of everyone know, I'm the only one paying under $2500. How many bedrooms and what's the square footage of these places? Are they shared?

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Re:How I negotiated a software-engineering job offer in Sili... by jedberg on Friday February 01, 2019 @04:16PM (#19058708)
Before deductions.
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Re:How I negotiated a software-engineering job offer in Sili... by zeroonetwothree on Friday February 01, 2019 @03:39PM (#19058339)
Just tried in TurboTax. $300k income in CA has effective tax rate of 35%.
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Re:How I negotiated a software-engineering job offer in Sili... by dmode on Friday February 01, 2019 @03:47PM (#19058427)
I filed my taxes with TurboTax last year. Did you account for state tax deduction, mortgage deduction, property tax deduction, standard deduction, child tax credits, 401k deductions, charity deductions, and a myriad of other options ? There is no way for anyone to say what an accurate effective rate would be. Mine was 28% last year
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Re:How I negotiated a software-engineering job offer in Sili... by magnetic on Friday February 01, 2019 @05:10PM (#19059235)
There are new rules that are not particularly advantageous for people making good money in CA due to the fact that CA has a fairly high state income tax rate and the new limits for the bucket of deductions it fits in.

https://www.fidelity.com/viewpoints/personal-finance/how-has...

If you own a home in the Bay Area, chances are you hit the limit on your property taxes alone.

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Re:How I negotiated a software-engineering job offer in Sili... by periya on Friday February 01, 2019 @03:49PM (#19058448)
Guess the OP files taxes as married filing jointly. That could cause a dip in the effective tax rate.
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Re:How I negotiated a software-engineering job offer in Sili... by yalok on Friday February 01, 2019 @04:37PM (#19058906)
you get hit by AMT. Or at least it used to be the case, before Trump changes - didn't do my taxes this year yet. 30% Federal + 15% state, and when you try to do deductions, you hit AMT.
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