i graduated from highschool and i work at ihop and i'll be earning $525.00 every two weeks. how much tax will they take out?
2007-09-26 14:02:18 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If this is your first job, then in the year 2007 you will make less than $5,350, which means that you will not be paying any federal tax for the year. If your employer is withholding federal tax, you will get the refund when you file your 2007 tax return. You can assume almost same situation for the State taxes (depends upon your state).
On your entire wages you will be paying 7.65% social security and medicare taxes.
2007-09-27 01:30:14 · answer #1 · answered by MukatA 6 · 0⤊ 0⤋
Go here for some handy estimators: http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp
Depending upon the state where you live, you should take home around $425 to $455 every 2 weeks.
2007-09-26 14:29:26 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
you will probably get a total of around $300 every two weeks after taxes.
2007-09-26 14:09:39 · answer #3 · answered by Anonymous · 0⤊ 2⤋