So on my paycheck, I'm trying to figure out what percentage is being taken out for taxes. My gross is 225, they took out 17.21, leaving me with a net of 207.79. How do I figure out what percent they've taken out, so I can estimate my checks in the future?
2006-06-20 01:37:41 · 11 answers · asked by Megan 2 in Science & Mathematics ➔ Mathematics
17.21 divided by 225 multiplied by 100 gives the percentage
2006-06-20 01:42:53 · answer #1 · answered by limey_not_lime 5 · 1⤊ 1⤋
The deduction per the gross multiplied by 100 expressed in percentage.
Here 17.21/225 x 100 = 7.6488888% ~ 7.65%
In order to calculate the tax deduction, first you must note if the amount of your check is within a fix rate of tax. If so, you then can multiply 100-7.65=92.35% to your check amounts from now on to reach the exact value you will earn. Example:
Suppose your gross check amount=US$1500 then the net payable amount would be 1500 x 92.35% = US$1385.25
But tax calculation is not as simple as written here. In fact, there are special tables named 'Tax Table' from which the deductive tax would be cumulatively calculated and deducted from the gross amount. You may find full explanation in economic sessions.
2006-06-20 08:49:32 · answer #2 · answered by fredy1969 3 · 0⤊ 0⤋
225 -- gross pay
225-17.21=207.79 -- net pay
207.79/225=0.924 -- 92%
your net pay is 92% of your gross pay FOR THIS CHECK.
You may have some fixed deductions,things that are the same amount regardless of your gross pay.
Compare your first check and second. If the GROSS is different, and all the deductions are different, you probably don't have any fixed deductions.
Just to be safe, perform the same calculation on your second check to ensure the percentage is the same.
Have fun in your summer job.
2006-06-20 08:43:39 · answer #3 · answered by scott_d_webb 3 · 0⤊ 0⤋
Sadly, I cannot think of the easy answer lol
A tougher (slightly) way to do it would be to make 225 = 100. You do that by dividing by 2.25 (2.25*100=225). Then you can do the same with 17.21 which = about 7.65%.
2006-06-20 08:47:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
To find out the percentage taken out of your paycheck divide 17.21 by 225 and then multiply the result by 100.
17.21/225=0.0764 *100 =7.64%
You pay 7.64% of your salary in taxes.
2006-06-20 09:15:07 · answer #5 · answered by ANKUR S 1 · 0⤊ 0⤋
All employers are required to take out payroll or FICA taxes which is 7.65%. Then they normally take out a portion for Federal and State income taxes. It appears that your employer is only taking out FICA taxes because 17.21 divided by 225.00 equals 0.0765 or 7.65%. If you plan on paying income taxes you may want to talk to your employer about taking some income tax out of your paycheck, otherwise you're going to owe a lot of money when it's time to file your taxes next year.
2006-06-20 09:02:54 · answer #6 · answered by Wes W 1 · 0⤊ 0⤋
Divide the gross by the amounts they took out. But typically the rate changes based on the size of the check. ie they will take a larger percentage out of a 500 dollar check than a 250 dollar check
2006-06-20 08:45:01 · answer #7 · answered by John 1 · 0⤊ 0⤋
17.21/225=.076
Which means 7.6% of your check is going toward taxes....not bad considering I have about 30% taken out!
2006-06-20 08:43:52 · answer #8 · answered by ali 1 · 0⤊ 0⤋
% of taxes on your pay check = (17.21 / 225 ) * 100
2006-06-20 08:47:15 · answer #9 · answered by igenkid 1 · 0⤊ 0⤋
(17.21)/225*100=%7.6488
is the tax!! and the end yur money
2006-06-20 10:39:49 · answer #10 · answered by zilla_mafia 2 · 0⤊ 0⤋