I live in Texas, file for 0 dependents, and do not have state or city taxes. When I multiply my hours worked by the rate, what do I substract from it. How much taxes and other deductions do I subtract as in taxes, unemployment, and Social security adn what else and the percentages for each. I do not have nothing subtract from my check as like health insurance or any other "programs" Thanks.
The most info someone gives me will get the best answer
2007-12-08 12:10:36 · 2 answers · asked by USARMYINFANTRY 3 in Business & Finance ➔ Taxes ➔ United States
Social Security is at 6.2% of the first $97,500 in 2007. That will rise to $102,000 for 2008.
Medicare is at 1.45% of all wages.
Federal income tax is on a sliding scale. The first $8,450 isn't taxed if you're single and not a dependent. As your wages rise above that the tax rates increase as your income does.
Go here for some handy estimators: http://www.paycheckcity.com
2007-12-08 13:33:28 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Try www.paycheckcity.com.
2007-12-08 21:00:56 · answer #2 · answered by npk 7 · 1⤊ 0⤋