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 08:57:20 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
SINGLE
BI-WEEKLY
AS FOR DEPENDANTS...IT'S ONLY ME? SO 1?
2007-07-23 09:38:38 · update #1
$910 times the Fica (social security, medicare) tax rate of 7.65% takes off $69.62
Income taxes from state and the fed vary based on state your in the number of allowances you took, for both it is approximately 15% so $136.50.
This leaves about $703.88 for your paycheck. This is taxes alone if your company removes money for a 401k, health insurance etc. it will be slightly less This isn't necessarily the tax you owe, it is what they take, you may recieve a refund when you file your income tax return in April.
2007-07-23 09:09:23 · answer #1 · answered by JJ 5 · 1⤊ 0⤋
http://www.irs.gov/pub/irs-pdf/p15a.pdf is the address on the internet for the official US Gov withholdings charts. The chart for Bi-weekly payroll, Single person claiming 1 exemption is $161.15 for the combined income tax and social security taxes. The net after deducting this from $910 is $748.85. Texas does not have any income tax
2007-07-23 10:47:03 · answer #2 · answered by Malcolm K 2 · 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.
2016-04-01 09:18:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
$910 per month, single, claiming 1 withholding allowance
Federal withholdin calculation-
$910.00 - $283.33 withholding allowance = $626.67. Employer should withhold $40.57 federal withholding tax.
$910.00 gross wage per month
$ 40.57 federal withholding tax
$ 69.62 Soc Sec/Medicare
$799.81 Net Pay after-tax
Other deductions are possible (medical insurance, 401k plan, city tax?).
2007-07-23 09:44:57 · answer #4 · answered by skipper 7 · 0⤊ 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 09:19:14 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 1⤋
it willbe 840.38 before fed taxers are taken out. That all depends on if you are married or single...dependants...
2007-07-23 09:32:03 · answer #6 · answered by nodesignerdogs4me 4 · 0⤊ 0⤋