I am about to graduate college in 2 months and have a second interview for a job with the county. My starting pay (first 6 months) would be $14.66/hr. How much of that would be taken out for taxes?
I am married and we have no children. Would the tax be somewhere around 30%? I'm just curious. Thanks.
2007-02-15 01:30:49 · 8 answers · asked by Katie 2 in Business & Finance ➔ Taxes ➔ United States
Yes, roughly 30%. Depending on how many exemptions you claim. If you want to bring home more, claim more M2, if you want more withheld, claim less.
2007-02-15 01:37:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can get a tax table from IRS.gov. At 14.66 per hour you're set to make $30,492. Using the federal tax table located at irs.gov, you will owe $4,183 in federal taxes (assuming no bonus or other income) for 12 months of employment at this salary. This works out to around 14% in FEDERAL taxes. This doesn't include social security taxes, medicare taxes, or any state income taxes. The state you live in will make a big difference, google state income tax with your state and you can find out this percentage. Hope this helps.
2007-02-15 01:47:13 · answer #2 · answered by Mr Chris 4 · 0⤊ 0⤋
Actually does not matter at all what they take out. What matters is total you will pay. Total will be the same - all you can decide is when you pay it. 7.65% will vanish for SS/Medicare. Don't know your state rate. If husband earns more you should be married zero so will have a higher percentage taken out. If you are higher earner he should be married zero & you should be married 3 if no house. Refunds are for people who make mistakes & give the govt an interest free loan. Without more answers can't give firm # but not important as compared to planning the big picture.
2007-02-15 01:53:09 · answer #3 · answered by vegas_iwish 5 · 0⤊ 0⤋
Start with social security and medicare, which will take out 7.7 pct total.
Then state income tax. Depends where you live. Maybe 5%.
Then federal income tax. At 30K per year, probably no more than 10 pct for federal.
Total probably closer to 25% unless you live in NY, which you probably dont, since you cant live there on $14.66 per hour.
2007-02-15 01:41:52 · answer #4 · answered by Anonymous · 0⤊ 1⤋
you and your employer will EACH pay 7.8% of the gross wage for your fica(social security) and futa(fed unemployment) from there YOU can decide how much of your wage you want withheld based on # of dependents or you can state a flat $ amount or percentage. you will also need to to factor in your spouses income and withholdings as well as other things like mortgage interest, business expenses etc. would recommend that you speak to a tax advisor or govt publications to add in all the factors. if you give up more per pay period, your getting a refund will be more probable.
2007-02-15 01:43:54 · answer #5 · answered by Dan M 1 · 0⤊ 0⤋
Yes, to be safe 30% is a good estimate but it will probably be a little less depending on what you do with your w4.
2007-02-15 01:36:29 · answer #6 · answered by DB 3 · 0⤊ 0⤋
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2007-02-22 21:18:03 · answer #7 · answered by jhon m 1 · 0⤊ 0⤋
my only answer is that the government is a ******* rip off i would have to say except damn near all your paycheck to the thieving bastards the more you make the more they take lifes moto
2007-02-15 01:41:23 · answer #8 · answered by Lenalu23 2 · 0⤊ 2⤋