How much money would get taken out by taxes in a minumum wage job if the check was 200.00
2007-12-25 13:58:18 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
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How much is taken out will depend upon your gross income and how frequently you are paid as well as what you put on your Form W-4. The calculators at the site above will walk you through the process of figuring it out.
If that was a bi-weekly check, not much in Federal income tax will be withheld. However all wages are subject to Social Security tax at 6.2% and Medicare tax at 1.45%. Everyone pays those on earned income and it is not subject to any refund.
2007-12-25 14:03:04 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
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2016-07-23 10:20:20 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Every job automatically takes out 7.6 percent in payroll taxes. This is for social security and medicare. 15.20$
After that Nothing is the same for any two paychecks.
State taxes are differnt for every state, and some states do not have income taxes.
Then your federal income taxes depend on the number of excemptions you signed when you first started the job. The more you claimed the less they take out.
At minimum wage, you will never pay income taxes, so even if they take them now, you will get them refunded at the end of the year.
2007-12-25 14:09:33 · answer #3 · answered by Ron B 3 · 0⤊ 0⤋
Well, I get paid 153 after taxes.....40 dollars are taken away...
I am assuming that if you get 200, they might take away about 50-60 dollars.
2007-12-25 14:06:10 · answer #4 · answered by Laureen 3 · 0⤊ 0⤋
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2016-07-10 05:43:28 · answer #5 · answered by ? 3 · 0⤊ 0⤋