I claim 0 on my paycheck and get around 1600 dollars taken out monthly. I gross about 5,000.0 a month. Is this normal?
2007-04-07 10:06:56 · 4 answers · asked by deucexcspro 1 in Business & Finance ➔ Taxes ➔ United States
If you claimed 1 exemption then not as much would be taken out, but you may owe taxes at the end of the year. My daughter only makes about $1600 a month and she has nearly $400 taken out for taxes, so it does sound about right to me if you are claiming zero exemptions.
Here's a link to figure out your situation more accurately for the state you live in:
http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp
2007-04-07 10:28:48 · answer #1 · answered by MarineMom 6 · 0⤊ 0⤋
You didn't say how much of the $1600 is state and how much is federal. You also didn't say if that includes Social Security and Medicare taxes. $5,000 a month is $60,000 a year. I assume you are not someone else's dependent. That means you should be claiming at least 1, possibly more on your W-4. Claiming zero results in the largest amount being withheld. The link below is a calculator provided by the IRS to help decide how many allowances to claim.
2007-04-07 19:33:32 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
you get what ever money is owed to you at the end from uncle sam if you dont want to wait on your money claim 1 you should brake even at the end of the year
2007-04-07 17:13:51 · answer #3 · answered by joemarques68 3 · 0⤊ 0⤋
You should move to TX, not state income tax
2007-04-07 17:23:36 · answer #4 · answered by Too tall Texan 2 · 0⤊ 1⤋