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tom1963
May 1, 2012, 08:18 PM
What percentage should be taken on Federal,State,Medicare and Social Security? This for Independent contractor for weekly earnings.Just need to know
Percentages for earnings between 400.00 & 900.00 per week.

Thank you

tom1963
May 1, 2012, 08:20 PM
What percentages should be taken out on wages betwee 400-900 dollars per week.

Fr_Chuck
May 1, 2012, 08:34 PM
No way to answer that, don't even know what country it is . In the US, it will depends on how you file, married or single, then number of dependents.

There are specific charts, next what state if in the US, they all have different tax codes, then what city, many cities have city income taxes.

ScottGem
May 2, 2012, 03:10 AM
An independent contractor does not have taxes withheld. An independent contractor is responsible for paying quarterly estimated taxes on their own. {MOD Note: threads merged}

AtlantaTaxExpert
May 3, 2012, 06:28 AM
Actually, contractors CAN ask to have federal and state income taxes withheld, if the "employer" wishes to do so.

The employer is NOT obligated to do so, however.