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Hello everyone!

I am currently living in London. I have both Irish and American citizenship. I have been offered a job in New York.

The pay would be $40,000 per year with an overtime payment of aprox $10,000 per year.

I am completely new to the US tax system. Can anybody offer some starter advice to help me work out roughly how much tax I will be paying? And when and how this is paid?

Your help is very VERY much appreciated. I'm not sure where to start!

Thanks for taking the time to read this.

xx
:):)
 

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Not to spook you or anything, but if you're talking about a job in New York City, you also have to take into account where you'll be living. Things get kind of complicated if you, for example, work in NYC but live in New Jersey or Connecticut (which lots of folks do). You wind up having to file income taxes for the Federal government, for your state of residence and for NY state (because you work there) and possibly NYC (which has a city income tax - or did have a few years ago when I last looked into it).

That sounds kind of awful, but lots of folks live with the arrangement and seem to do OK. The "treaties" between the states are actually somewhat like those between the different countries as far what which taxes you pay to which jurisdiction and how you credit the tax you pay in one venue off against the other.

You may want to ask your employer-to-be about maybe including tax preparation assistance for the first year or two as part of your relocation package. But in any event, the employer is supposed to withhold income taxes (for Federal and state) from your paychecks. This is just a sort of "estimate" (and one you can adjust as you start getting more familiar with the tax system). At the end of the year - you get documents from your employer showing how much you earned, and how much they have withheld for each level, and you use this information to file tax returns (due by April 15th of the following year).

If you want to do a full immersion on the Federal side of things, cast a glance at IRS Publication 17 Publication 17 (2014), Your Federal Income Tax which is kind of the "Bible" of US tax basics. (And don't worry, only about 15 to 20% of the stuff in that publication will ever apply to you.) Information on State taxes is generally available online - try googling the state name + Department of Revenue.
Cheers,
Bev
 

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I have been offered a job in New York. The pay would be $40,000 per year with an overtime payment of aprox $10,000 per year.
Just FYI, that's not a lot of money if you're going to be working in Manhattan, though it can be done with extreme care and (usually) a long commute. That is quite a bit more money (in spending power and lifestyle support terms) if you're going to be working in Utica, to pick an example.
 
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