This is basically a math problem.
If I am living in Dallas, Texas, and I am bringing in a
$910.00 paycheck
how much will I actually be bringing in after Taxes
(Please incorporate everything...FICA/Med, Federal, Social Security, etc)
I am looking for an amount with your work shown (Percentages, deductions)
Please, I need a true final amount.
Thank you all!
2007-07-23 08:57:07 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
SINGLE
BI-WEEKLY
AS FOR DEPENDANTS...IT'S ONLY ME? SO 1?
2007-07-23 09:34:49 · update #1
According to this paycheck calculator, here is the results using "single" and 1 "allowance":
Bi-weekly Gross Pay
$910.00
Federal Withholding
$87.23
Social Security
$56.42
Medicare
$13.20
Texas
$0.00
Net Pay
$753.15
http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp
If you claim 1 allowance you get back a little more on each paycheck than you would if you claimed 0. A lot of single people do claim zero because they want to make sure they won't owe taxes at the end of the year--but you can claim yourself as single allowance too to get more money back now, since it looks like you probably won't owe taxes anyway at the end of the year with your current salary. I live in Texas too so at least we don't have to pay any State taxes-yeah!
2007-07-23 11:19:21 · answer #1 · answered by MarineMom 6 · 0⤊ 0⤋
Did you earn all this in one paycheck? How many federal deductions did you claim on your 2007 W-4 form? Do you have a second job? Is this your main job? We can't even begin to answer your question until you answer those. Your age and living arrangements are irrelevant to the answer.
2016-05-21 03:05:55 · answer #2 · answered by kami 3 · 0⤊ 0⤋
gross check is 910.00
less social security tax 6.2% -56.42
less medicare 1.45% -13.19
less federal withholding -87.00 (per IRS WH table)
take home pay 753.39
this is based on your data, single status, paid biweekly
and doesnt include any insurance or retirement deductions
2007-07-23 09:54:45 · answer #3 · answered by M S 3 5 4 · 2⤊ 0⤋
That will depend upon how frequently you are paid as well as how many withholding allowances you are claiming.
Go here for some handy paycheck estimators: http://www.paycheckcity.com
If you are paid weekly claiming one allowance you should receive about $708.38. If you're paid bi-weekly you should get about $753.38
2007-07-23 09:21:00 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 1⤋
Still needing some information. Are you married or single? Is the pay weekly, bi-weekly, semi-monthly or monthly? Are your claiming any dependents? Re-submit your question.
2007-07-23 09:02:34 · answer #5 · answered by IRENE THE BOOKIE 3 · 1⤊ 1⤋