Required Salary Calculator
Wondering how much you will need to earn to support the lifestyle you want? Fill in the form below, and the Required Salary Calculator will give you an estimate based on what you provide:
*Daily values based on a 5-day working week
**Excluding yourself and your spouse
How to use the Required Salary Calculator
To find out what salary you need to support the lifestyle of your dreams, enter the monthly take-home value you need in the "Monthly" box. Select your age from the ranges available.
Select from the drop-down box whether you are filing as a single person, a married couple filing jointly or separately, or as the head of household.
From the next drop-down box, choose how many dependents (not including yourself and your spouse) you will declare. Enter also the monthly $ value of any other deductions you want considered - for example, retirement plan contributions.
When you're done, click on the "Go!" button, and the table on the right will display the information you requested. You'll be able to see the gross salary, taxable amount, tax, social security and state income tax on annual, monthly, weekly and daily bases.
This is based on Income Tax and Social Security information for the tax year 2014. More information on tax rates here.