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USA General Information

Moving to USA - help calculating living expenses

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Moving to USA - help calculating living expenses

Postby 01steven » Wed 13 May 2009 00:20 GMT

It looks like we'll be moving to Miami later on this year as I have a job out there and my employment visa has come through.

I'm trying to put together a budget for monthly expenses but want to make sure I've covered all bases (as they say over the pond!). Something similar to this:
[Link removed by Site Admin - please read our guidelines to find out why. - Dave]
but with costs relevant to living in the USA.

The main unknowns for me currently are taxes (income tax, local taxes etc.) and health insurance. My family consists of myself, my wife (both aged 40) and our 3yr old son.

I've searched a bit online for one but couldn't find one. Does anyone know of one? Or could someone help me fill in my blanks?

Many thanks...
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01steven
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Postby thewanderingbrit » Wed 3 Jun 2009 18:32 GMT

It depends on many factors. Generally, if you're earning less than a 6-figure income, you can assume that 20-30% of your gross pay will go towards tax, including the American equivalent of NI (Social Security) and Medicare (health care for the elderly and poor). Florida has the benefit of not having a State Income Tax - just the Federal Income Tax as mentioned above.

If you're talking about Miami, living expenses there are probably a little higher than they are here in Tampa, but as a guide, groceries are about $130/wk, and for a 2br/2b apartment, rent for us is around $1000.

Health insurance is again going to depend on how much your employer pays. My employer has a fairly good benefits package and for me and my wife, we pay about $100/month. Then you need to remember that you'll have "co-pays" for prescriptions and doctors visits (generally less than $20, but if you're planning on making a lot of trips to the doctor/pharmacy...).

Let me know if you need any more information
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Location: Tampa, FL

Postby kingroly » Wed 10 Jun 2009 14:52 GMT

yeah i think it 20-30% of your gross pay will go towards tax, same process to what im paying..
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