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Reply to "How does your gross pay? Compare to your net pay?"
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[quote=Anonymous]In the last statement of the year, net is 60% of gross, but in the beginning of the year it changes due to resetting the clock on Social Security and 401K, which max out earlier in the year (including catchup). About 5% of withholding is benefits (health, dental etc.), the rest taxes. But that does not account for a bonus that can be about 1/3 of annual gross or stock which can be another 1/3, both of which have tax implications not reflected pay check to pay check. Annual effective tax rate is typically between 28 and 29%.[/quote]
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