I live in California and so far my Fed. Tax is about 10% of my total gross earnings. That seems way too low, no?
2006-08-16 04:54:57 · 3 answers · asked by sjpsports 2 in Business & Finance ➔ Taxes ➔ United States
Here is the amount from the table in front of me for weekly pay for married couple.
First subtract $63.46 for each exemption
From what is left:
Not over $154 $0
$154-$440 10% of amount over $154
$440-$1308 $28.60 plus 15% of amount over $440
etc.
2006-08-16 07:39:24 · answer #1 · answered by Barkley Hound 7 · 0⤊ 0⤋
The schedules, used to calculate your tax withheld, are using your gross income, in addition to the married status and exemptions. You have to tell us how much you make because people with higher income are in a higher tax bracket.
2006-08-16 11:59:29 · answer #2 · answered by fasb123r 4 · 0⤊ 0⤋
I agree with fasb's answer that it is based/depends on your gross income - normally it is between 15% to 50%!@
2006-08-16 12:04:57 · answer #3 · answered by nswblue 6 · 0⤊ 0⤋