2007-08-06 10:43:04 · 9 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
it's more than likely social security and medicare taxes. Social security tax is 6.2% of your paycheck, which on $52.00 would be 3.22, and medicare is 1.45%, which would be .75. Is this what was taken?
2007-08-06 11:06:20 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Whoever said that you will get it back at the end of the year is sort of wrong. You do not get Medicare back ever and you only get back FICA (the rest of social security) back if you worked for more than one employer and made a total more than a very large amount (approximately $80,000). You get back income taxes only if you file, and it may not be worth the trouble for the taxes on $52.00.
Some states tax money for disability insurance. This may be what was withheld from your pay.
If you look at the paystub, it should say what was withheld: social security, FICA, medicare, SDI (state disability insurance), federal income tax, state income tax, etc. If you tell us which thing it is, we can give a more complete answer as to why that was taken.
Also, what in what state did you work?
2007-08-06 18:43:35 · answer #2 · answered by StephenWeinstein 7 · 0⤊ 3⤋
Social Security and Medicare taxes are always withheld. Federal and State income taxes may also be withheld, depending upon how you filed your Form W-4 for withholding allowances.
2007-08-06 18:53:51 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Each and every dollar you earn is subject to FICA and Medicare withholding, which amounts to 7.65% of your wage.
There is no way to escape that part. Any other withholding for federal taxes would probably result in a refund at year's end.
2007-08-06 19:54:09 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
Because you made $52.00.
2007-08-06 18:38:08 · answer #5 · answered by Tim 7 · 0⤊ 0⤋
Cos taxes is taxes wherever you live and whatever you earn.
2007-08-06 17:46:39 · answer #6 · answered by Ellie 6 · 1⤊ 0⤋
Don't worry... If they are taking out taxes, you get it back at the end of the year. Everything else you will get back when you are 70 (theoretically)!
2007-08-06 17:48:04 · answer #7 · answered by DrewS 2 · 0⤊ 3⤋
Taxes. Gotta pay for all them welfare moms.
2007-08-06 17:50:32 · answer #8 · answered by PRS 6 · 0⤊ 3⤋
social security and medicare baby! gotta luv it!!
2007-08-06 17:46:05 · answer #9 · answered by StephanieS 2 · 1⤊ 2⤋