2007-09-07 00:57:30 · 3 answers · asked by Crystal C 1 in Business & Finance ➔ Taxes ➔ United States
state withholding depends on your state, federal withholding depends on income, marital status, number of exemptions claimed on W-4. Social security is always 6.2% and medicare is always 1.45%.
I've attached a link to a paycheck calculator website, www.paycheckcity.com, that can help give you the info you are looking for.
2007-09-07 01:35:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋
This Site Might Help You.
RE:
Generally what percentage of federal taxes are taken out of your paycheck if you are an hourly employee?
2015-08-19 10:15:35 · answer #2 · answered by Dreama 1 · 0⤊ 0⤋
Employer will deduct the social security and medicare taxes of 7.65%. This you have to pay even if your income in below the Filing Requirement.
About Federal withholding, for 2007 the Standard deduction is $5,350 and exemption deduction is $3,400. Thus for a Single who is not dependent of anyone else, if the total income for 2007 is up to $8,750 ($5,350 + $3,400), then there will not be any Federal tax. Your taxable income for Federal tax is 0.
Now if your income is more than $8,750 by up to $7,825, the Fed tax slab is 10%. The next slab of Federal income tax (for Single status) income from $7,850 to $31,850 is 15%.
Then depending upon your state you have state income tax and may be state SDI.
2007-09-07 03:10:00 · answer #3 · answered by MukatA 6 · 0⤊ 0⤋
It depends upon your gross wages, filing status, and number of withholding allowances. It can vary from 0% to just under 35% for Federal Income Tax. Then there's FICA at 7.65% and any State Income Tax as well.
Go here for some handy paycheck estimators: http://www.paycheckcity.com
2007-09-07 01:01:32 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
It will depend on how much you earn and how many you claim on your w-4. Generally, for a single person making about 35,000 a year you can take the number of hours you work times your hourly wage and deduct 18% and you will be close to your take home pay.
2007-09-07 01:04:23 · answer #5 · answered by remowlms 7 · 0⤊ 0⤋