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So how much is actually taken out of a paycheck for taxes?
So how much is actually taken out of a paycheck for taxes? Federal-? Social security-? If its an estimate I just need ball park figure.
Thanks, D
Depend on where you live, your marital status and who you claim… go to www.salary.com, you can make up a fake career, then go to .. figure out my paycheck and put in the elections and they can tell you.. another good way I use as I am a singler adult no dependants, is I just assume that 1/4 of my pay goes to the Govt
For FICA, the maximum annual deduction is (I believe) 16K yearly…so, if you make a lot of money, then that’s the most they’ll take yearly.
If you’re married, have kids, and make 50K or so per year (household, married filing jointly) you might pay around 15K per year in taxes. 30-50% is a good range to use when trying to figure it out.
However, if you make less than 15K per year, you might only pay 10-20% in taxes.
It depends on many things: your job, kids, where you live, if your married, etc. ~Alanna
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