Posted on: 07-09-07 11:49:18
Quote:Purely from financial calculations aspect, in *most* cases, you will be better off in the US without having to make 90K.
Originally posted by yellowknife
eg. If someone is making 80K in Toronto I don't think it makes much sense to move to the US unless you are making at least more than 90K.
To continue your example, if you are making 80K CAD a year in GTA, you can move to US making 80K USD and be better off in most cases.
That depends on which state you move to in the US and what the income tax rates and cost of living in that state is.
Another assumption is that you have company sponsored group health care plan and/or the 80K USD is after medical insurance premiums.
There are more tax deductions available in the US as well.
I imagine it is fairly easy to calculate equivalent salary in the US that you would need to maintain your current lifestyle.
The marginal tax rates are easy to obtain on the Internet and all you have to do is plug in the numbers and you can calculate how much you need to make in your planned destination in the US.
Barring certain states and cities in the US that have high cost of living and/or high state income taxes, in most cases you will have to make less and not more USD than your current CAD salary.
Again, this is just a numbers comparison and does not include a host of other things like quality of life, safety, infrastructure, social network, social support, and so on.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
try out these sites...it should give you a fair idea of how much tax you end up payin in Canada vs. US.
Canadian Salary Calculator
http://www.paycheckcity.com/coeatonca/CAcalculator.asp
US Calculator
http://www.paycheckcity.com/
Go to personal calculator
Again my 2 cents to this thread.
I was swinging for a while to "Go" or "No Go" to USA. After calculations and equations decided to work in GTA (dont know about West Canada) for the following reason
Being Software Engineer making 80$K to 100$K in GTA.
Stay back for the following reasons
1>Conversion rate USD to IND and CAD to IND are pretty close around 40Rs
2>Health Coverage for the family cost $500/month approx in USA (if your consultant..if not the above salary is not likely to be achieved)
3>Transportation/Job security is more in CANADA compare to USA (provided you r quilified and specialized and not a new commer :-) That is u already got the desired first job in GTA
4>Food and culture and cost of living are pretty much comarable
Go back to USA for the following reasons.
1>Weather (depends if you going really south)
2>Cost of living (depends if you are going mid west or mid south)
3>Friends and relatives and other emotional factors
Well, the above are my personal equations and might helpfull if some one in my shoes
Rgds
MRK
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MK
