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    corycory's Avatar
    corycory Posts: 3, Reputation: 1
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    #1

    Jun 17, 2010, 07:12 AM
    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?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Jun 17, 2010, 07:29 AM

    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.
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    corycory Posts: 3, Reputation: 1
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    #3

    Jun 17, 2010, 07:39 AM
    Bi-weekly
    corycory's Avatar
    corycory Posts: 3, Reputation: 1
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    #4

    Jun 17, 2010, 07:39 AM
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #5

    Jun 17, 2010, 10:46 AM
    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.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #6

    Jun 17, 2010, 11:35 AM
    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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