Where can I get a chart of taxes to deduct from a paycheck? Do I have to go through the IRS and do I have to be a business owner to obtain one of these?
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Where can I get a chart of taxes to deduct from a paycheck? Do I have to go through the IRS and do I have to be a business owner to obtain one of these?
Deductions from paychecks is public knowledge. You don't say where you are from US or Canada, but if you Google this info. i.e. withholding taxes from paychecks' I am sure you will get the correct information.
I know a good site. Go to PaycheckCity.com | Web-Based Paycheck Calculators.
First you need to register, no charges. It has many useful calculators. If you want to find out what your pay check will be then you can use this link:
PaycheckCity.com | Sign On to your account
First select the year and State and then enter your income and deduction info.
Go to IRS.gov look up the tax table for your incomeQuote:
Originally Posted by sandraharbor
The amount to withhold for federal income tax is documented here:
http://www.irs.gov/pub/irs-pdf/p15.pdf
The formulas and tables for withholding income taxes begin on page 38. You also have withholding for social security (6.2% of the first $102K of pay) and Medicare (1.45% of pay).
Depending on your state or municiaplity you may also be subject to income tax withholding for them.
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