2006-06-06 03:36:53 · 5 answers · asked by Me myself and I 2 in Business & Finance ➔ Personal Finance
I work for a telecommunications sales company on an hourly basis....I'm a student, so I'm probably in a low tax bracket. I just noticed that on my paycheck they deduct SS, Medicare, and Fed taxes, and want an estimate of how much cash I'll actually be getting in my next paycheck.
2006-06-06 03:40:23 · update #1
It depends on your tax bracket and the number of deductions that you claimed on your W-4, if applicable. If you're an independent contractor with a 1099, then nothing. A normal W-2, 20-40%, depending on the things above.
2006-06-06 03:38:07 · answer #1 · answered by Arbitrage 7 · 0⤊ 0⤋
First, we would have to know your salary, how many dependents you are claiming, how much of your check will be going pre-tax and post-tax for things like payments, 401K deductions, insurance, etc. CAUTION: DON'T PUT ANY OF THAT INFORMATION ON THESE BOARDS.
I think I would check out the H&R Block website or IRS Website where you can calculate that answer. Without some parameters, there is no way anyone on these boards can give you an accurate number.
2006-06-06 10:41:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You forgot in KY the state income tax as well as the possibility of the county income tax. If all apply to you then 50%. I used to work in KY.
2006-06-06 13:04:49 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
You can pretty much always counting on 1/3 of your gross pay to be taken out.
2006-06-06 10:40:17 · answer #4 · answered by jaike 5 · 0⤊ 0⤋
ususally 24-27%
2006-06-06 10:38:51 · answer #5 · answered by rebrab728 4 · 0⤊ 0⤋