 Help with taxes!? |
| Ok so for the past few years I have had a job at a local tennis shop. They have never withheld any taxes because I was always a student and claimed as a dependent. Well this year is the first year I ... |
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 Can businesses take taxes out of your paycheck if you're a minor? |
| I'm 16 and I do some work for my dad at his small business and I didn't think that they could take out money for taxes since I'm a minor but I just wanted to check.... |
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 Stimulis check please help??? |
| About a month ago We got a letter from irs saying we might be getting the stimulis check but havent recieved any more info that we are getting it for sure did they send a second letter out to ... |
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 I hired a irs tax lawer i paid him 2,000 for him to do the offer and compromise with the irs after he did this |
| he told us that he was done with us well i recived notification from the irs that my offer and compromise was declined my question would be can i file a compaint to bbb about this issue or where can ... |
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 Filing separately or jointly on taxes? |
| Once I have filed jointly with my husband in previous years, do I always have to file jointly? Can I file separately for the first time in 7 years this year?... |
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 I got my stimulus tax refund for 1200 but it should of been 1800? |
| I am married and have two dependents? Will i get the dependents refund separate?... |
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 Should i use turbotax? |
| i've never done my own taxes before, i always sent everything to my mom and had her do them. i no longer go to school but i do make student loan payments. and if i do use turbotax, do i just use ... |
|
 How long do i need to keep my receipts? |
| i have a business and need to know when to throw the receipts away? Does anyone know?... |
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 Can I get income tax exemption for the tution fee I paid for my Nursery going LKG child? |
| According to 6 CPC, the tution fee for the nursery going child can be reimburshed. In the same way, can we claim the tution fee for the nursery going child from Income Tax.... |
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 Work reference: Do they ask the previous employer what was the salary? |
If you apply for a job and the salary brackets are let's say:
20 - 23K and you mention to your potential employer you were on 22K, which is a possibility they will either offer you same or ... |
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 What is tax return? |
| is it for everybody? or just for business owners?... |
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 Child Tax Credit? |
| I am seeking some info before we file our taxes. My husband and I just had a baby on December 7. Are we supposed to add our daughter on our 2007 Tax Return? Do you get a credit for children? If so ... |
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| Do you need to file taxes seperately for each W2 form? |
I do promotional work for several companies and receive a W2 form for each. Do I have to file for each individually or can I add the totals wages, taxes, and amounts of all and file one form?
A... |
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slysmith_9 | What percent does a employer take out on employee checks? |
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Firstd1mension
 |
SHORT ANSWER: If you want a ballpark figure, your total deductions if you are single will be 20-25%... if you're married and/or with kids it may be as low as 15% and if you're making near-minimum wage it could be as low as 10%.
LONG ANSWER: Mandatory deductions include 3 things:
1) FICA/Medicare, 2) Federal Income Tax, and 3) State income tax.
FICA and Medicare combined is a flat 7.65% of the gross wage.
Federal income tax depends on how much gross income the employee is making, and the payroll classifications and number of payroll deductions the employee filed for in their W4 when they began employment. Generally, the higher the income, the higher the percentage. You get less taken out if you are married, have kids, or are the head of a family household.
State income taxes may or may not apply, and are likewise individualized based on income and family situation. If you are low income, you may have next to nothing taken out for state income tax.
There may also be deductions for an employee's share of any health insurance benefits, contributions to retirement plans or deferred compensation, or deductions required per court order for child support or structured civil settlements.
Hope that answers your question! |
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mrshunter_2002
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to d@mn much! |
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One Big Daddy
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what state and how many exemptions? |
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mom_of_4
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It depends on that states taxes and how many dependents they have. |
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yes_its_me
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As much as the law dictates. This can be 30% in taxes, charges for insurance, etc. The less you make the lower the amount for taxes. Also if you are single and making big bucks it can exceed 30%. Some of it you control, like Medical Insurance and Retirement funds. Some of it is dictated by the Government, SSI, Taxes, etc. |
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Moonfairy
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Approx. 10 % some take more depending on benefits etc.. |
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Anthony S
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The employer? None? Except for insurance and 401k...and insurance depends on your employer. Mine takes out 10% of the monthly cost for insurance (about $14 a check). |
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ValleyViolet
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Depends on the state (Washington and Texas do not withhold taxes) tax rate, the structure of your benefits if applicable, and your income level. |
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