With 2 dependents and paid once per month ?
Is it true the government will take more than $6,000 per month ?
2007-07-27 09:06:11 · 11 answers · asked by Sin nombre 6 in Politics & Government ➔ Government
You're in a pretty high bracket...looks like around 45% based on the assumptions below:
Monthly Gross Pay
$25,000.00
Federal Withholding
$7,035.40
Social Security
$1,550.00
Medicare
$362.50
California
$2,121.18
CA SDI
$150.00
Net Pay
$13,780.92
Calculation Based On
Tax Year
2007
Gross Pay
$25,000.00
Pay Frequency
Monthly
Federal Filing Status
Single
# of Federal Exemptions
0
Additional Federal W/H
$0.00
State
California
Filing status
Single
Allowances
0
Add. Allowances
0
Additional State W/H
$0.00
CA SDI
Yes
Go to http://www.dalewilles.com/payrcalc.php for a detailed calculation/calculator under $10,000 a month.
Go to http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp for pay over 10,000 per month for the details
2007-07-27 09:24:41 · answer #1 · answered by Brian G 1 · 2⤊ 0⤋
At that income level, you'd have a federal tax liability of about $7100 a month, plus state and local income taxes. Probably somewhere around $8000 a month will have to come out of your paycheck.
2007-07-27 09:18:00 · answer #2 · answered by Bryan F 3 · 1⤊ 0⤋
Just federal taxes would be over $6K regardless of the state. If you don't have any deductions such as mortgage interes for example, the overall taxes will be in excess of $10K per month.
Use this calculator to estimate the taxes:
http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp
The net for your situation comes out to $14,282.36 out of $25k
2007-07-27 09:15:56 · answer #3 · answered by AJ 5 · 1⤊ 1⤋
Should be about 33%
2007-07-27 09:13:29 · answer #4 · answered by mustangamer 3 · 3⤊ 0⤋
$6k is probably about right. However, it may not be as much if you claim the two dependents on taxes.
Keep in mind that 90% of America doesn't even make $6k/month on two salaries.
You should feel lucky.
2007-07-27 09:13:33 · answer #5 · answered by Anonymous · 1⤊ 1⤋
Brain G hit the nail on the head!!!!
2007-07-27 10:31:18 · answer #6 · answered by kim t 7 · 0⤊ 0⤋
THAT IS ABOUT RIGHT. I JUST CALLED MY SISTER AND SHE MAKES ABOUT THAT MUCH JUST A BIT MORE AND SHE SAID THEY TAX HER 6,250 PER MONTH. SHE HAS ONE DEPENDENT CHILD AND HERSELF. SHE IS A DESIGNER AND IS PAID MONTHLY.
2007-07-27 09:16:28 · answer #7 · answered by strike_eagle29 6 · 0⤊ 0⤋
Yes and what do you do for a living?
2007-07-27 09:10:22 · answer #8 · answered by Anonymous · 2⤊ 0⤋
1st,if you can't calculate your taxes,you are not making 25,000.00 per month.
2nd,refer to first.
2007-07-27 10:29:18 · answer #9 · answered by Anonymous · 0⤊ 1⤋
they do take about 400 from 2500
2007-07-27 09:09:27 · answer #10 · answered by Anonymous · 0⤊ 2⤋