Ask Question and Get Free Answers - JUST Ask And Answer > QA > Business & Finance > Taxes
How much does the Federal Taxes take out of your paycheck?

Answers:1   |   LastAnswerAt:2009.12  

Question
visitor
For Real 
Asked at 2009.12.18 23:46:39
No, the answer isn't subtact the net from the gross off your paycheck and take that amount and divide it from your taxable wages.

I would like to know whats the actuall number the IRS uses to take tax money and make deductions from your paycheck. For example I had one pay check that had FED INC TAX percentage deduction of taxable wages was 9.14% and another check that was only $76.00 more and that FED INC TAX percentage deduction came out to 9.50%. So obviously if you make more, the amount they take out will increase, thus theres a common number they use to make deductions based on your taxable wages.....and thats the number I would like to know. Thank you.
answer John T  Answered at 2009.12.18 23:46:39
It's complicated. You have a number of exceptions you've claimed. Each one provides about $3,000 in tax relief.

You also are taxed at different rates depending on your income. So, there's the 10% bracket all the way up to 35% bracket. A higher income person will see a higher percentage deducted.

I'll bet that you have some sort of overtime or commision proceeds so that your paycheck varies. What you'll find is that the more you're paid per period, the greater that tax liability, since you are earning higher.

For example, if you made $25,000 a year, you'd be in the 15% bracket. But if you had a massive profit sharing for one week or something, your annualized rate might push you into the 25% bracket for that period, so you'd have higher taxes that week.

Increase your IRA or 401(k) deductions to cut your taxes. If you typically get a large refund, file a new W-4 to decrease withholding and get a bigger paycheck.

Go online and search for payroll calculators or take-home calculators. You can run the numbers there.
1
  • Answer This Question:How much does the Federal Taxes take out of your paycheck? 

  • insert image

    image url:

    such as: http://www.justaaa.com/**/**.jpg

    insert video

    vedio url: