how much taxes will be taken out if i am a student and Married?

Question

I live in colorado, am i agoing to college and am married. i am paid $6.91 and hour and work 40 hrs a week . how much taxes wiill be taken out?

Answer 1

Since you are married, your wife will take away your entire pay. You will be left with nothing.

Answer 2

Being a student doesn't change your tax, except that you can probably claim an education credit for part of your tuition and fees if you have enough income to have any tax liability.

If your spouse has no income, and this is your entire joint income, you won't owe any federal income tax. You will pay 7.65% for social security and medicare, and 4.63% to Colorado. At that point though, since you wouldn't have federal income tax liability, you would not get an education credit. If your spouse has income also, then you would probably jointly owe some federal income tax, but the education credit would reduce or eliminate it.

Go to paycheckcity.com to calculate what will be taken out of each check. This might or might not be what you end up owing - you could get a refund depending on what they take out.

Answer 3

Student status does not affect your tax rate.

At $6.91 per hour, your gross pay is $276.40 per week.

According to IRS Publication 15, the amount is 10% of the amount over $154.

The total amount of Federal Income Tax withholding is $12.24. That assumes you are paid weekly, you are married, and no extra exemptions.

To an answerer below, it doesn't matter what the asker's annual income is. The question was "how much taxes will be taken out" of my paycheck, not what will I owe at the end of the year. The answer to that question comes from IRS Publication 15, the employer's guide to withholding.

Answer 4

If you file your return as Married Filing Jointly, your deduction will be $17,500. You will be making less than $17,500 in a year. So you will not have any federal tax. If you make less than $17,500 you are not required to file your federal return. But you should file to get refund of all the federal tax withheld form your paycheck. You will also get some extra income due to Earned Income Credit. So you should file your return for 2007 before April 15, 2008.

What taxes will be taken out depend upon what you have put of W4. If you put Married with 2 allowances, you should expect zero federal tax withheld. The social security and medicare tax is 7.65%.