Hey there
I'm writing out a budget for myself... yada and I need to figure the percentage of Federal Taxes deducted from my gross income. I have figured social security and medicare which is a fixed rate.
But what would the formula be to distinguish the percentage held for Federal Taxes in Texas?
Thansk
2007-11-19 05:35:40 · 9 answers · asked by joedudez 3 in Business & Finance ➔ Taxes ➔ United States
Take the total amount of your paycheck from your paycheck stub and then the total amount withheld for federal taxes (also on your paycheck stub) and divide them. that will give you your % in a form that looks something like "0.2345555" or 23%
2007-11-19 05:40:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Texas Federal Tax Rate
2016-11-12 03:27:58 · answer #2 · answered by trivedi 4 · 0⤊ 0⤋
RE:
Federal Taxes withheld in Texas?
Hey there
I'm writing out a budget for myself... yada and I need to figure the percentage of Federal Taxes deducted from my gross income. I have figured social security and medicare which is a fixed rate.
But what would the formula be to distinguish the percentage held for Federal Taxes in...
2015-08-04 14:18:26 · answer #3 · answered by Kami 1 · 1⤊ 0⤋
federal taxes withheld texas
2016-01-25 02:30:03 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Your state probably has a website for tax forms and information.
Just do a search for 'withholding tables' and 'Texas'.
OOOps
I just realized that you said 'Federal'
Do the search without using 'Texas'.
The Federal government DOES have this information out there.
2007-11-19 05:40:19 · answer #5 · answered by my 2 cents 4 · 1⤊ 0⤋
Federal taxes are the same world-wide. Go here for some handy calculators: http://www.paycheckcity.com
As you probably know there's no income tax in TX.
2007-11-19 06:03:29 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Federal taxes won't change from state to state. So it will depend on your income. Talk with an accountant to find your tax bracket.
2007-11-19 05:39:44 · answer #7 · answered by migrainegirl1 3 · 0⤊ 0⤋
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Tax is figured on each paycheck, based on the gross on that paycheck and what you have on your W-4. It's figured like you make that much every pay period. So for example, if someone just worked one week but made $1000, tax on a weekly paycheck would be as much as they'd pay a week if they made that much EVERY week, which would be a lot more per pay that someone who worked 50 weeks that year for a couple hours a week and made $20 a week.
2016-04-01 01:29:20 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It will be the same as any other state, since it is Federal, after all.
http://www.yourmoneypage.com/withhold/fedwh1.cgi
While your taxes at the end of the year are calculated as a percentage of your income, your withholding is a different percentage based upon your income of the moment in your check. That's why most people end up getting a refund at the end of the year.
2007-11-19 05:46:42 · answer #9 · answered by Marc X 6 · 0⤊ 0⤋
You take the gross amount of your paystub and divide it by the federal amount withheld from your paystub and this will give you a % amount that was used to calculate your federal taxes withheld.
2014-02-14 04:39:38 · answer #10 · answered by Jose 1 · 0⤊ 0⤋