Friday, November 8, 2013

Salary

I make $250,000 a year working for waste management in Quzhou China. My Gross is $250,000. This is my total earnings before losing anything. My Net after taking out the state tax (25%) is $62,500 equals $187,500. Then the Net after taking out the social security tax (30%) is $56,250 equals $131,250. The Net is what actually goes in my pocket after all the taxes are taken out. My final Net ends up being $131,250.