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-   -   Tax exemption (https://www.askmehelpdesk.com/showthread.php?t=216208)

  • May 15, 2008, 08:40 AM
    kittkatt
    Tax exemption
    I no longer have any children to claim on my W-4 due to my youngest turning 18 and he does not live with me. I need to change how I claim, but I don't want too much taken out. I need to know the percentage rate taken out for Federal, State, MichCare and Social Security for a single person or a person claiming zero, so I can figure out how to change my W-4 without having too much taken out in taxes. Any ideas?:confused:
  • May 21, 2008, 09:26 PM
    fhoss3634
    Try using this site to calculate taxes -- paycheckcity.com. You can do "what if's" for claiming married or single with 0 or 1 exemptions so you can see what your check will look like.

    Federal - depends on your tax bracket
    Social security rate is 6.2% up to 102,000.00 of taxable earnings
    Medicare rate is 1.45% of all taxable earnings
    State - each state is different

    Hope this helps.

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