With PaycheckCity’s online calculators, individuals can see for themselves what cities will give them the best take home pay.”
(PRWEB) April 23, 2013
We all know that where we live impacts how much money we make in our gross pay, but few stop to consider that state and city payroll withholding taxes impact the amount of money we take home in our paychecks as our net pay. Now that most Americans are over the hurdle of filing their tax returns, Symmetry’s PaycheckCity.com, a site offering personal paycheck management calculators, is releasing the top cities for take home pay so that folks can determine where they can get the most out of their paychecks. Considering two different scenarios, PaycheckCity examines the difference in annual take home pay for cities across the country in this infographic.
The full version of the infographic available on PaycheckCity.com, details the take home pay for individuals in the following scenarios:
- Single, making $40,000 per year
- Married, making $40,000 per year
The infographic walks the viewer through the cities where they can maximize their paycheck based on the state and city tax codes. The best Paycheck Cities end up being cities where there is no city or state tax. The infographic further details helpful personal paycheck management information such as an explanation of the difference between gross and net pay, and a breakdown of how net pay is calculated. Finally, for those individuals who are inspired to move based on their city’s taxes, the infographic displays states with no state income tax or a flat tax, as well as displays the seven states with the highest income taxes. The infographic isn’t the only place to find out this helpful information. Tom Reahard, CEO of Symmetry Software, states, “With PaycheckCity’s online calculators, individuals can see for themselves what cities will give them the best take home pay.”
Here is the methodology for how the statistics in the infographic were determined: All salary and paycheck calculations were run on PaycheckCity.com. Salary was set at $40,000, federal and state allowances were set at one for single and two for married. The highest income tax states represent the 7 states whose highest income tax brackets have rates greater than 8%.
Learn more by visiting http://www.paycheckcity.com/pages/infographic.php
Embed code for the "Best Paycheck Cities" infographic is available on PaycheckCity.
About Symmetry Software
Founded in 1984, Symmetry Software specializes in payroll and payroll-related withholding tax software applications for the Internet and corporate intranets. Based in Scottsdale, Arizona, Symmetry runs four payroll-related Web sites:
- PaycheckCity.com: Offers employees self-service tools for paycheck management including free personal finance calculators. Individuals can model "what-if" scenarios using wages and other paycheck figures to determine the impact on take-home pay.
- StateW4.com: Online form-preparation process for federal, state, and local withholding forms.
- Payroll-Taxes.com: A payroll research library for industry professionals, including free paycheck calculators and a paycheck community message board.
- Payroll-Point.com: The latest mapping technologies deliver appropriate tax withholding settings based on the home and work addresses of an employee.