My weekly 40 hour paycheck has been written for $262.76 for almost a year, now. I make $8.25/HR. I gross 330.00 per week. Does this seem right??
2007-07-11 14:41:00 · 4 answers · asked by Stephanie S 2 in Business & Finance ➔ Taxes ➔ United States
I am single
I am claiming no dependents
Not head of household
2007-07-11 14:44:04 · update #1
You pay federal withholding tax. You can look up the correct withholding at irs.com, download a Circular E, mmmm or is it C, and look at the withholding charts in the back.
You pay Social Security and Medicare. .062 and .0145 times your gross pay respectively.
You may pay state/county/city or other local taxes. You will have to check that one.
Do you not get a stub with each individual amount withheld and for what? Ask for it.
When you are single, you pay big taxes..
Went and checked it out for you on the chart that figures SS, Med and FIT all together and your deduction for $330 weekly is 60.63, so unless something else is taken out your paycheck should be 269.37.
Ask.
2007-07-11 19:11:14 · answer #1 · answered by towanda 7 · 0⤊ 0⤋
The state income tax amount will not be near what the federal amount would be so do not panic just get prepared for when you correctly complete your state income tax return after the end of the year in 2011 and then you will know who much you may owe the state tax department at that time. Or if you if you choose go to your states website and you can file a estimated tax calculator available if you would like to get started ahead time on knowing how much you need to try and have available when the time comes are even consider making some partial payment amount before you file the 2010 state income tax return in the year 2011 by making an estimated tax payment by some time in January you will find that information with the estimated payment voucher if your are interested in doing this. Hope that you find the above enclosed Information useful to you and in your situation and good luck to you.
2016-05-20 00:51:02 · answer #2 · answered by shawna 3 · 0⤊ 0⤋
They should be taking around $25.25 for social security and medicare (might show on the pay stub as FICA) and around $20 a week for federal income tax withholding. So sounds like the withholding is a little high unless you are having something else taken out also.
2007-07-11 18:31:17 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
It seems about the right amount
2007-07-11 14:57:45 · answer #4 · answered by Bill S 1 · 0⤊ 0⤋