Basic information on Taxes.?
I’ve never had a job before and my parents have always spoiled me by buying everything for me. So I know very little about taxes and the effect it has on working individuals.
I’m in college now and I’m starting to realize that I’ll be paying taxes soon as I get a job. I figured I’d get a start on what to expect.
I’ve done some research and know that people fall under different tax brackets, have to deal with the IRS, and consider state and federal taxes. But these all mean nothing to me since I’m not employed.
I was wondering if anyone could tell me a general outline to follow with this information about me.
1. I’ll be a PharmD graduate do I figured I’ll be employed with a $ 80,000 total yearly salary. Average mean for my profession.
3. I’ll be paying $ 1000 a month for a house rent, electricity, water.
4. Another $ 1000 a month for car, insurance.
5. Another $ 1000 a month for food and basic needs.
6. I’ll place the remaining amount into savings
7. I’ll be living in the Seattle, WA :King county area
Please let me know