I was wondering if anyone could give me an approximation of how much my job would be taking out of my check for taxes. I live in michigan and im single. I just started this job 3 days ago.
2007-06-09 11:15:24 · 7 answers · asked by dann.smith 1 in Business & Finance ➔ Taxes ➔ United States
http://www.payroll-taxes.com/calculators.htm
2007-06-10 05:03:42 · answer #1 · answered by beth 4 · 0⤊ 0⤋
Wait for the first check. There is no true indication of what the net amount is but there are things to be certain of. There a 7.65% tax that is FICA. Now Find out the Income tax withheld in Michigan. The federal tax is different because it is progressive.
2007-06-09 11:21:33 · answer #2 · answered by RichSTCharles 3 · 1⤊ 0⤋
You are single and have no dependents, believe me you won't like it. If you claim dependents now, they will take out less taxes, but you probably will have to pay back at the end of the year. If you don't claim any dependants, you will probably break even at the end of the year and probably owe nothing or you will get a small income tax refund.
2007-06-09 11:26:49 · answer #3 · answered by ? 5 · 0⤊ 0⤋
Since you don't give a clue as to how much you're making, no, nobody can answer your question.
They'll take out 7.65% for social security and medicare. As far as income taxes, depending on your income, it will be somewhere between zero and 38.9% for federal plus state.
2007-06-11 11:31:39 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Depends on how many dependents, insurance co-pay etc. On average figure 20-25%
2007-06-09 11:25:07 · answer #5 · answered by Pengy 7 · 0⤊ 0⤋
It depends on how many exemptions you claimed and how much your grosas pay is. Usually it's about 20-25% of your gross.
2007-06-09 12:38:14 · answer #6 · answered by crazydave 7 · 0⤊ 0⤋
Go to paycheckcity.com.
If you put in all of your information (gross salary, state, exemptions), it will pop out expected net pay.
2007-06-09 11:27:21 · answer #7 · answered by sunshine 3 · 1⤊ 0⤋