what is the highest tax percent that the government will take out of your check?

Question

On my check i have one 1 exemption.

Answer 1

The highest scheduled tax rate is 35% (income tax only) but you'd have to be making a HUGE amount of money to ever see that much going out. Your actual withholding rate will probably be much lower and will depend upon your gross wages each pay period..

You CAN ask for more to be withheld and many people do, especially folks in the service industries who make good tips. I know one waitress who has her entire paycheck withheld and even gives some of her tips to her employer to have them withheld as well. She makes a TON of $$$ in tips -- well over $200 a day on average.

There's also the 7.65% for Socual Security and Medicare and state income taxes as well..

Answer 2

It is 35% after deductions and exemptions. Don't forget that we have a multilevel tax system. It is only 35% above a certain amount. All the money below the level is taxed at all the other levels from 10% to 28%.

Answer 3

The highest bracket for federal income taxes is currently 25%. Another 7.65% is taken out for social security and medicare up to a certain limit, and state and local taxes can also be taken out depending on where you live.

Answer 4

100%, if you authorize it. I used to take a bonus at year end to avoid a penalty for underpayment and give everything after FICA, SDI, and state withholding to the IRS. Therefore, zero to me.
Remember that what they take out is not tax. It is withholding and you get back the difference.

Answer 5

Govt does not take anything. you tell your employer what to send to govt on the W-4 you fill out. Can add any amt to the base table up to making your ck zero. Can't be 100% as 7.65% goes to social security/medicare.

Answer 6

Just shy of whatever the hell they want to.