how can i know how much money will be withheld from my paycheck? is there a formula to calculate the % ?

Question

it's a salaried job at $40,000 a year in georgia. i'd also like to know if i should expect a certain % to come out of monthly commission checks.

ok - $40,000 per year, claiming one, i'm single, they take 23.52 out per check for insurance, pd bi-weekly, no 401k yet

Answer 1

My husband has about 30% of his paycheck with held. Also they take out for insurance, 401K, etc. If you don't have insurance taken out, of course less will be deducted. Same goes for 401K, if you dont' get one, less money is held. The Gov, however will still take the initial 30 %. I'm not sure, but I thought I heard it was 33%, I'm sure someone with CPA knowlege will give you the best anwer.

Answer 2

This is dependent upon things like co-pay for insurance, 401 K the amount of dependents you claim, figure on an approximate take home of about 575 a week give or take $20-30. Commision checks are taxed the same as your salary pay

Answer 3

Assuming that you get paid every other week or 26 times a year the withholding before any benifits would be $395.50 if you are single and $310.18 if you are married w/o dependents.