I'm 17 and am working part time for $10/hr. Here is an example of one of my paycheck.
I worked 11.5 hours and so I made $115, but then my employer deducted $17.25 for federal withholding, $7.13 for social security, and $1.67 for medicare. I ended up getting $88.58 after all the deductions that paycheck. This is about 23%.
Now I just asked my sister about hers, and she told me that her paycheck was $126.05 and she lost $13.75 through taxes. This is like 10%.
Why is mine so much higher? Is my employer ripping me off?
2007-05-27 07:51:38 · 5 answers · asked by Nick 2 in Business & Finance ➔ Taxes ➔ United States
Check what you put on your W-4 form. That's way too much federal income tax to have withheld.
You can get any overpayment back at the end of the year as a refund. You'll have to file a tax return to get it. though.
2007-05-27 08:08:13 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
You probably didnt claim anyone on your w-4 form when u stArted work and she claimed herself or kids if she has any. Unless you need the money right now dont worry about it you will get more money back at refund time.
2007-05-28 00:36:07 · answer #2 · answered by ainger452 3 · 0⤊ 0⤋
It could just be the type of job and place your working at. Some people I know get 20% off.
2007-05-27 15:00:32 · answer #3 · answered by ._. 3 · 0⤊ 1⤋
Look over your W2 and make sure you aren't having more deductions than you need.
2007-05-27 15:01:52 · answer #4 · answered by Danielmcfate 2 · 0⤊ 1⤋
HE'S NOT RIPPING U OFF UR BOSS JUST HAS A HIGHER TAX BRAKET , HE SENDS MORE MONEY TO TAXES DONT WORRY ULL GET UR FED AND STATE MONEY BACK THEN WHEN UR OLD U'LL GET SOCIAL AND MED
2007-05-27 17:18:22 · answer #5 · answered by Baby T 1 · 1⤊ 1⤋