after taxation ?.....does the government take 28% or 33%..?
thanks...
2007-07-08 05:47:09 · 8 answers · asked by Noah B 3 in Business & Finance ➔ Taxes ➔ United States
It depends on your filing status, but the link below will show the tax brackets and ranges for 2007. If you file single, it shows that you should pay $4,836, plus 25% on all of your income over $31,850. Your actual income subject to tax will be less depending on your deductions.
As for how much is withheld from your check, that would depend on the information you supplied to your employer on your W-4. That's just for federal taxes.
2007-07-08 05:55:47 · answer #1 · answered by stefa1mg 2 · 0⤊ 0⤋
There isn't a percent that applies to everyone - it depends on your filing status, dependents, allowances, and credits.
They will take 7.65% for social security and medicare. Income tax depends on many variables. And depending on where you live, there might or might not be state and local income taxes.
If you are single, not a dependent of anyone and don't have any dependents, don't itemize your deductions, and don't have any adjustments, the federal bite will be a little under 20% between income tax and social security and medicare. Any local or state taxes would be in addition to that.
2007-07-08 06:33:32 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Your federal tax for a $50K salary for a single filer will be $9373.75. For a joint filer (married) with a total $50K income the federal tax will be $6717.50. Plus you'll have Medicare, Social Security, state, local and other deductions.
Many other things affect your take-home pay, such as 401K and insurance contributions.
If you have questions about your take-home pay, contact your payroll administrator; if they cannot help, or seem unknowledgeable to you, contact your local office of the department of labor.
If you are considering a job offer and want to weigh your take-home pay, depending on the situation, you could ask for their insurance contribution schedules. You can always estimate the math of your taxes by your current salary.
2007-07-08 07:26:19 · answer #3 · answered by ? 5 · 0⤊ 0⤋
A yearly salary of AED 50K equals a monthly income of AED 4.166. There is no way that a family of 4 can live a decent life of this salary. You will need your whole income to pay rent alone. Even a single person has to mantain a very low lifestyle earning AED 4K monthly only. Sorry.
2016-03-18 05:58:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You will get a take home pay of around 3,600 a month it depends what you put into things like 401K, flex spending, any medical you might have to pay, union dues. The federal government takes 7.65% for SS and Medicare and something for income taxes depending on your W4 it isn't a flat percentage. You don't have income taxes withheld from the part that goes to 401K or Flex spending so putting 15,500 into your 401K will reduce your tax rates and not reduce your take home pay by the entire 15,500.
Since you don't have a budget based on your take home pay this is the best time to set up your 401K if you are allowed to do it without being there a year first.
2007-07-08 05:59:13 · answer #5 · answered by shipwreck 7 · 0⤊ 1⤋
It will depend on how many dependents you claim, what state you live in and certain cities also have an income tax.
2007-07-08 05:55:48 · answer #6 · answered by ? 4 · 0⤊ 0⤋
This Site Might Help You.
RE:
If my yearly salary is 50,000 how much of it will I get .....?
after taxation ?.....does the government take 28% or 33%..?
thanks...
2015-08-18 22:06:53 · answer #7 · answered by Reatha 1 · 0⤊ 0⤋
a bunch of problems
2015-10-07 13:56:48 · answer #8 · answered by Jerry 1 · 0⤊ 0⤋