I am an employee, married and have 2 sons 15&10 years old…my whole hour salary is $9, I live in New York I want to know exactly how I can calculate the taxes deducted from my salary including the new one….. with example please

Regards….

Naderbd:

The FICA taxes are easy. For Social Security, they withhold 6.2% of your gross wages. For Medicare, they withhold 1.45% of your gross wages. Withholding example below:

$9 x 40 hours = $360 (weekly pay)

$360 x .062 = $22.32 (weekly Social Security withholding)

$360 x .0145 = $5.22 (weekly Medicare withholding)

Now, if that income is your only income for your family, then you should have ZERO withheld for federal and state income taxes. You make too little to have to pay any income taxes at either the state or federal level. Now, if your spouse works, different story!

There is no formula to determine how much is withheld for income taxes. The withholding amounts are displayed in tables in IRS Circular E and are based on your marital status and number of exemptions you claim.

Thanks very much for your prompt reply .in fact the deducted taxex from me are 5 kinds of taxes …my wife is working she takes $6.25 per hour for the first 40 hours and after that $9.39 for every additional hour so can you tell me if it will change the tax calculation in your reply ….

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Originally Posted by AtlantaTaxExpert

Naderbd:
The FICA taxes are easy. For Social Security, they withhold 6.2% of your gross wages. For Medicare, they withhold 1.45% of your gross wages. Withholding example below:

$9 x 40 hours = $360 (weekly pay)

$360 x .062 = $22.32 (weekly Social Security withholding)

$360 x .0145 = $5.22 (weekly Medicare withholding)

Now, if that income is your only income for your family, then you should have ZERO withheld for federal and state income taxes. You make too little to have to pay any income taxes at either the state or federal level. Now, if your spouse works, different story!

There is no formula to determine how much is withheld for income taxes. The withholding amounts are displayed in tables in IRS Circular E and are based on your marital status and number of exemptions you claim.

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What are the weekly withholding taxes for
Weekly salary: $500.00
Married, 5 dependends,
NYC resident

Quote:

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Originally Posted by susan silberman

what are the weekly withholding taxes for
weekly salary: $500.00
married, 5 dependends,
nyc resident

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What are the federal, nys, and nyc withholding taxes

If I make 12.25 bi-weekly what will my check come out to every pa period and I work 36 hours? And I'm getting state and federal as well as medical and ss out

What is my federal,ss and medicare withholding I have 3 children and single head of house hold

ALL CONCERNED:

The Social Security (6.2%) and Medicare (1.45%) are flat taxes. You can do the grade school math to determine what the withholdings would be.

For the rest, you need to download Circular E from Internal Revenue Service to determine what the federal incoem tax withhlding will be.

The states have state-equivalent tax tables which you can access at the state tax websites.

Quote:

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Originally Posted by susan silberman

what are the weekly withholding taxes for
weekly salary: $500.00
married, 5 dependends,
nyc resident

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