Help validate my calculations
Trying to figure out how to compare my current TC in Seattle with a hypothetical TC of an offer in NYC. My thinking is that I need to adjust for the extra taxes - about 10% state and city income tax which doesn't exist in Seattle, and higher cost of living - online calculators say that NY is 60% more expensive which sounds crazy, so I just assume my expenses on housing, food etc would be about $2500 more per month in NYC, so about 30K per year. So if my hypothetical offer was 400K, the adjusted TC would be 400K*90%-30K=330K, and if I'm currently making 300K in Seattle, the upside of such a move would be 30K. Thoughts?
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I would use the online calculator, even if it seems high. I went from Dallas to Seattle and when I tried to break it down like you did, it didn't work. I'm still doing fine, but it was a big change. My case might be more complicated though because my wife also transitioned to staying at home for the kid in this time. FYI: that's expensive.
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