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 I was paid cash to do work on my parent's house. Should I include this on my taxes as "WAGES EARNED"?
or do i include it as a miscellaneous income? I am currently doing my taxes on TurboTax. Please help, i dont want to screw it up.
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o0o0o_xoxo_katie_xox...
If my paycheck is 303 after taxes are taken out, what percent in taxes is taken out if I made 360 b4 taxes?
                     
 




PepsiLime
Rating
360 gross - 303 net = 57 in taxes. 57 in taxes/360 gross = 15.83% for taxes.


swissgirl
Rating
15.84%


006
%change = (new - old)/old
(303-360)/360 = -15.83%, or 15.83%


MoreCowBell
~15.8% went to taxes/deductions

Edit: To Cindy:

Yes it does, as each state has their own income tax %.


Meg...Out of Hybernation
Those who provided an answer between 15.8 and 15.9 are correct.


mith
write it down in mathematical terms the way you said it.

360 times what is 303 or 360*X=303 Once you solve for x, use your number sense to get the desired answer.

Another example would be

If my paycheck is 289 after taxes are taken out, what percent in taxes is taken out if I made 412 b4 taxes?

It would be 412 times what is 289 or 412*X=289
Solving for x gives you 0.701 or that 289 is 70% of 412. Using your number sense you know that the government took 30%

BTW, yes the state changes the withheld tax. The biggest change comes from wether or not that state has a state tax or not.


Thomas B
360 - 303 = $57.00 /$360 = 15.8333%

Simple :)


Don
That is about 15%


cindy s
Question for anyone who answers this question....does the percentage change depending on the state that you live in?


David P
15.833% (about).

$303/$360 = 0.84167. This means that 303 is 84.167% of 360.

So, 100%-84.167% = 15.833%.

To double check, 15.833% * $360 = $56.9988.

$360 - $56.9988 = $303.0012 = $303.00 (there is nothing smaller than one penny.)


Hope that helps.


Jana
between 16 and 17%


Psycee
Too much.


adam
Rating
whatever


Chloegirl
Rating
approx. 17%


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