$100K salary in Seattle amounts to nearly $49K after taxes and cost of living, study says
In the Boise Veterans Parade was a group of motorcycle riders representing the non-profit, Boise Valley POW-MIA Corporation.
$100,000 in Seattle amounts to roughly $49,000 after adjusting for taxes and cost of living, a SmartAsset report says.
SmartAsset compared the after-tax income from 76 of the largest cities in the United States and then adjusted those numbers for the cost of living in each city to see how much a $100,000 salary is actually worth.
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According to the study, Seattle ranks at 67 out of the 76 cities with $48,959 being the take-home pay.
$100,000 goes the furthest in Memphis, Tennessee with the take-home pay being $86,444 . With Texas being a state with no income tax and a low cost of living, seven of the state’s cities are in the the top 10. $100,000 goes the least in New York City with the salary amounting to $35,791 after considering taxes and the cost of living.
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SmartAsset gave the following “tax tips for 6-figure earners:”
- Max out your retirement accounts.
- Calculate your cost of living.
- Work with a professional.
The study used cost of living index data from the third quarter of 2022 in this report.