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-   -   If my gross pay 483.74 then what is my net pay (https://www.askmehelpdesk.com/showthread.php?t=480430)

  • Jun 17, 2010, 07:12 AM
    corycory
    If my gross pay 483.74 then what is my net pay
    I have my check stub an I filed 0 federal an 0 for Va state income tax an I'm single. My gross pay was 483.74 an my net pay was 404.07.Also they took 29.99 for social security tax an 7.02 for medicare tax I just wanted to know what's the pecent that is getting taken out?
  • Jun 17, 2010, 07:29 AM
    ebaines

    The amount they took out for SS and Medicare is correct - the amount is 6.2% for SS, and 1.45% for Medicare. As for federal withholding - you need to tell us whether the $483.74 is weekly, bi-weekly, or monthly pay.
  • Jun 17, 2010, 07:39 AM
    corycory
    Bi-weekly
  • Jun 17, 2010, 07:39 AM
    corycory
    Quote:

    Originally Posted by ebaines View Post
    The amount they took out for SS and Medicare is correct - the amount is 6.2% for SS, and 1.45% for Medicare. As for federal withholding - you need to tell us whether the $483.74 is weekly, bi-weekly, or monthly pay.

    Bi-weekly
  • Jun 17, 2010, 10:46 AM
    AtlantaTaxExpert
    You can download Circular E from Internal Revenue Service to find out what withholding amount applies for the federal withheld income tax.

    Go to the Virginia tax website to get the virginiawithholding table for the Virginia income tax.
  • Jun 17, 2010, 11:35 AM
    ebaines
    Quote:

    Originally Posted by corycory View Post
    Bi-weekly

    For 0 allowances, single person, paid bi-weekly -- the formula for your wage bracket is:

    (Gross wages - $289) x 0.15%

    So:

    (483.74-289.00) x .15 = $29.21.

    For reference, the withholding chart is on page 32 of: http://www.irs.gov/pub/irs-pdf/p15a.pdf

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