I make 1200 a week. 12% is taken away for retirement. 13.45% is taken away for taxes. this is all pretax. my gross is 914.  I currently drive 27 miles one way for work, and fill up once a week at $36.  New position i would be driving 4.5 miles one way.  Please give me annual financial benefit of my job now, in addition to the new position at 70 and 75k respectively, with transportation considered.

To calculate the **annual financial benefit** of both your current job and the new positions at $70k and $75k, we need to consider the following:

### 1. **Current Job**:
- **Weekly Income**: $1200
- **Retirement Contribution**: 12% of $1200 = $ 1200 \times 0.12 = 144 $
- **Taxes**: 13.45% of $1200 = $ 1200 \times 0.1345 = 161.4 $
- **Net Weekly Income**: $ 1200 - 144 - 161.4 = 894.6 $
- **Fuel Costs**: You drive 27 miles one way, so a round trip is $ 27 \times 2 = 54 $ miles per day.
    - Weekly commute: $ 54 \times 5 = 270 $ miles per week
    - Assuming you fill up once a week at $36, your **weekly fuel cost** is $36.

- **Net Weekly Income after Fuel**: $ 894.6 - 36 = 858.6 $
- **Annual Income after Fuel**: $ 858.6 \times 52 = 44,647.2 $

### 2. **New Position at $70k**:
- **Annual Gross Salary**: $70,000
- **Weekly Gross Salary**: $ \frac{70,000}{52} = 1346.15 $
- **Retirement Contribution**: 12% of $1346.15 = $ 1346.15 \times 0.12 = 161.54 $
- **Taxes**: 13.45% of $1346.15 = $ 1346.15 \times 0.1345 = 181.12 $
- **Net Weekly Income**: $ 1346.15 - 161.54 - 181.12 = 1003.49 $

- **New Commute**: 4.5 miles one way, so 9 miles round trip.
    - Weekly commute: $ 9 \times 5 = 45 $ miles per week.
    - Assuming similar fuel efficiency, your **weekly fuel cost** would reduce significantly. Let’s assume it’s proportional to the distance, so the new weekly fuel cost would be:
    \[
    \frac{45}{270} \times 36 = 6
    \]
    - **Net Weekly Income after Fuel**: $ 1003.49 - 6 = 997.49 $
    - **Annual Income after Fuel**: $ 997.49 \times 52 = 51,869.48 $

### 3. **New Position at $75k**:
- **Annual Gross Salary**: $75,000
- **Weekly Gross Salary**: $ \frac{75,000}{52} = 1442.31 $
- **Retirement Contribution**: 12% of $1442.31 = $ 1442.31 \times 0.12 = 173.08 $
- **Taxes**: 13.45% of $1442.31 = $ 1442.31 \times 0.1345 = 194 $
- **Net Weekly Income**: $ 1442.31 - 173.08 - 194 = 1075.23 $

- **New Commute**: As above, **weekly fuel cost** would be $6.

- **Net Weekly Income after Fuel**: $ 1075.23 - 6 = 1069.23 $
- **Annual Income after Fuel**: $ 1069.23 \times 52 = 55,599.96 $

### Summary of Annual Income after Fuel:
1. **Current Position**: $44,647.20
2. **New Position at $70k**: $51,869.48
3. **New Position at $75k**: $55,599.96

---

**Key Financial Gains**:
- Moving to the $70k position increases your annual income by **$7,222.28**.
- Moving to the $75k position increases your annual income by **$10,952.76**.

Would you like more details or have any questions?

---

### 5 Related Questions:
1. How would changes in fuel prices impact your overall savings?
2. How would a different retirement percentage affect your take-home pay?
3. What would the impact be if the commute distance or fuel efficiency changed?
4. Would there be any extra costs (parking, tolls) in the new job?
5. How would switching to a different tax bracket change the scenario?

**Tip**: When evaluating job offers, always consider long-term factors like retirement contributions and healthcare, in addition to the salary and commute costs.

I make 1200 a week. 12% is taken away for retirement. 13.45% is taken away for taxes. this is all pretax. my gross is 914. I currently drive 27 miles one way for work, and fill up once a week at $36. New position I would be driving 4.5 miles one way. Please give me annual financial benefit of my job now, in addition to the new position at 70 and 75k respectively, with transportation considered.

Discover how to calculate the annual financial benefits of switching jobs, factoring in salary differences, taxes, retirement contributions, and commute costs. This detailed breakdown includes step-by-step formulas to compute take-home pay, fuel expenses, and overall annual income based on gross salaries of $70k and $75k.

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