I live in Tx, not sure if it would be different in other states.
2007-06-11 05:12:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
When I lived in Texas and claimed zero, the total deductions (including Federal tax, state tax, FICA and all that other stuff) was about 23% of my gross income. So if you want to get a rough idea of how much you'll be taking home, figure out how much you make every pay period and multiply it by 0.77.
2007-06-11 05:21:28 · answer #1 · answered by Anonymous · 0⤊ 2⤋
7.65% for social security and medicare, no matter what you claim on your W-4. For federal income tax, depends on your income that pay period and how often the pay period is - can be anywhere from zero to almost 35%. This is the same across the country.
2007-06-11 09:58:03 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
The exact formulas are available in IRS Publication 15-A Starting at Page 24. Here's the link: http://www.irs.gov/pub/irs-pdf/p15a.pdf
The amount withheld depends on how much income you make and how often you receive your paycheck.
2007-06-11 06:31:39 · answer #3 · answered by darin2z 3 · 0⤊ 0⤋