My gross yearly gross salary would be 100,000. I'm married with a year old kid. My wife doesn't work.
thanks
2007-07-13 06:13:36 · 3 answers · asked by nic questions 1 in Business & Finance ➔ Taxes ➔ United States
Nobody can answer this question. you are married filing jointly claiming 3 total. own a home? write off the taxes, mortgage interest, auto registration and state tax amount and charitiy contributions in addition to health expenses over 7.5% of the income. on your Schedule A.
If you do not own a home, take the standatrd deductions. you will also get a child credit.
typically on average 100,000 should get about $15,000 withheld to be sfe.
2007-07-13 06:20:04 · answer #1 · answered by warsuxdeathsux 2 · 0⤊ 1⤋
Taxes don't depend on how much you make, they depend on what exemptions you claim. The higher the number of exemptions, the less tax is deducted. If you claim 0 exmptions, they will deduct the highest amount of tax possible.
Use the worksheet on the back of the W4 form to determine the number of exemptions you're entitled to take. You can find a W4 form online at www.irs.gov.
Good luck.
2007-07-13 13:18:57 · answer #2 · answered by Mel 6 · 0⤊ 1⤋
Go here for some handy paycheck estiamtors: http://www.paycheckcity.com
Punch in 4 withholding allowances and you'll be very close to your actual tax liability.
2007-07-13 14:00:18 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋