2007-10-22 08:37:33 · 2 answers · asked by norsegirl04 1 in Business & Finance ➔ Taxes ➔ United States
Figure your "take-home" paycheck at about 70% of gross pay. May be a little more or less depending on what state you're in and what you elect to withhold for income tax.
2007-10-22 08:42:07 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends on where you live among other things. They'll deduct 7.65% for social security and medicare - that's $2677.50. If you don't itemize, and don't have any dependents or any additional deductions or adjustments, you'll pay around $3564 for federal income taxes. So that's $6241.50, or about 18%, for federal tax. Depending on where you live, there is probably also a state income tax, and might be a local income tax - since that varies by location, no way to tell what you'll pay there.
2007-10-22 11:32:22 · answer #2 · answered by Judy 7 · 0⤊ 0⤋