But the only things listed on my husbands last paystub for taxes withheld are:
FED MED/EE
and
FED OASDI/EE
I don't think either of these is the one I want to use for federal taxes withheld. Am I right or is it one of these two?
2007-01-10 05:06:06 · 7 answers · asked by Betsy 7 in Business & Finance ➔ Taxes ➔ United States
If those are the only two withholdings, that means they did not withhold any federal or state income taxes. FED MED/EE is his medicare tax withholding, and FED OASDI/EE is his social security tax withholding. He won't get any of it back.....until he retires.
2007-01-10 05:13:43 · answer #1 · answered by jseah114 6 · 1⤊ 0⤋
What you should be looking for is Federal Withholding & State Withholding.
Fed Med/EE is the amount that your husband has contributed to the federal government towards medicare (1.45% of your gross wages).
Fed OASDI/EE is another name for Social Security that your husband has contributed. OASDI stands for Old Age, Survivors, Disability Insurance. (6.2% of your gross wages).
Both OASDI and Med combined are formally known as FICA or the Federal Insurance Contributions Act of 1935.
Good luck!
2007-01-10 13:23:02 · answer #2 · answered by CYNTHIA P 1 · 0⤊ 0⤋
if they withheld for those two, the almost certainly withheld federal income tax, unless he's making close to the minimum wage.
look for a number that is around 10 - 15% of his gross wages. there should be a description that says fed inc tax or something like that.
2007-01-10 13:15:23 · answer #3 · answered by jinenglish68 5 · 0⤊ 0⤋
FED MED/EE is the medicare tax and
FED OASDI/EE is social security tax.
2007-01-10 13:14:52 · answer #4 · answered by Barkley Hound 7 · 0⤊ 0⤋
No, neither of these are tax withholding for income taxes.
MED/EE = Medicare taxes, 1.45%
OASDI/EE = Social security taxes, 6.2%
2007-01-10 13:15:04 · answer #5 · answered by Molly 6 · 1⤊ 0⤋
FICA Year to date gives taxes withheld and total made for the year.
2007-01-10 13:14:59 · answer #6 · answered by snuggler 2 · 0⤊ 0⤋
To estimate your federal taxes, you will need the Year to Date Gross Pay and Year to Date Federal Tax Withholdings. They can be abreviated in a number of different ways, like YTD Gross, YTD income, YTD FTW etc.
If you have more than one jobs during the year, make sure you add them up.
You can use this online calculator to help. http://www.hrblock.com/taxes/tax_calculators/index.html?calcIndx=1#top
Best wishes.
2007-01-10 13:14:03 · answer #7 · answered by JQT 6 · 1⤊ 0⤋