sometimes theyll take 40 and sometimes 80 in tax why is this?
2007-10-02 11:08:06 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
First, you are subject to social security (6.2%) and medicare (1.45%). Then the federal government will want your employer to withhold income tax at your tax rate and allowances. If you live in a state with income taxes and a municipality that also assesses tax, then there will more deductions. Also, there may be some employer/employee type deductions like health insurance co-pays, uniforms, union dues, 401-(k), union dues...the list goes on. What's left is what you live on. Ain't much, I know. We've all been there or are there now. Welcome to the real world. Hope this helps.
2007-10-02 11:41:11 · answer #1 · answered by IRENE THE BOOKIE 3 · 0⤊ 0⤋
If you are salaried, you actually should not see much difference in amount taken out. But if you live by hourly wage and have overtime mixed in or have a wide range of hours worked, your withholding tax for federal and state purposes will change based on a percentage calculation of your anticipated liability when you file your annual tax return. It could also be attributed to hitting a tax ceiling (like FICA) which in turn gives you more take home pay.
2007-10-02 11:45:34 · answer #2 · answered by Tom C 3 · 0⤊ 0⤋
Assuming you are referring to taxes, the amount is based on a percentage of your gross pay on the check. I am guessing your check varies as much as the deduction.
2007-10-02 14:55:54 · answer #3 · answered by STEVEN F 7 · 2⤊ 0⤋
Different amount of hours worked. Look up the correct amounts
2007-10-02 11:44:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
That actually answer varies consistent with what you place on your W-4 and how many times you're paid. the ideal answer given your loss of element is the link below an IRS ebook containing withholding tables.
2016-12-14 05:55:04 · answer #5 · answered by ? 4 · 0⤊ 0⤋