so it was a 2000 check, im claming no dependents, and i do not own a home, how much should they have pulled out of the check, they pulled out so much this time i just wanna see how it works, thanks in advance. :)
2007-04-06 19:08:15 · 4 answers · asked by jm 3 in Business & Finance ➔ Taxes ➔ United States
http://www.irs.gov/pub/irs-pdf/p15.pdf
Or a copy of the government's "Circular E" will show you exactly the federal withholding. Then there is FICA which is 7.65%, maybe SDI (state disability insurance) depending on your state of approximately 1%, and maybe state withholding.
2007-04-06 20:18:48 · answer #1 · answered by hebb 6 · 0⤊ 0⤋
Go to www.irs.gov and they have a tool on their website that calculates how many exemptions you should claim on your W-4 that will take enough money out of your check to get you very close to not paying any additional taxes at tax time. I usually take less exemptions than they recommend, just to be on the safe side and I always get a little bit back as a refund.
2007-04-07 02:19:33 · answer #2 · answered by IT wannabe 2 · 0⤊ 0⤋
It depends on what your withholding is at work. Also, if it was a bonus check employers often withhold using the highest tax bracket regardless of what is withheld on your regular paychecks.
2007-04-07 02:23:07 · answer #3 · answered by Amy F 3 · 0⤊ 0⤋
Without knowing all of the facts, it's not possible to say.
Go to http://www.paycheckcity.com for some handy estimators.
2007-04-07 11:37:33 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋