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    Ramcheran2020's Avatar
    Ramcheran2020 Posts: 2, Reputation: 1
    New Member
     
    #1

    Jun 6, 2008, 10:20 AM
    What is my federal Tax Percentage.
    Hi

    I am student on OPT.

    July 30 2006 to December 31 2006 ---- On F-1 Visa No.Of days: 157

    January 1 2007 to December 31 2007 -- On f-1 Visa No.of days: 365

    January 1 2008 to January 2 2008 --- On F-1 Visa No.of days : 2

    January 3 2008 to today ---- On OPT No.of Days: 153

    Started working in Florida... No state Tax

    Single,Not married,Independent,No Dependents on me...

    Since I am on OPT no FICA and Medicare Taxes

    The only Tax I need to pay is Federal.

    Lets say my Gross income is 100,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 107,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 90,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 92,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 80,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 83,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 73,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 70,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 63,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Lets say my Gross income is 60,000 K What is my Fedral Tax Percentage and what is net pay that my employer should pay to me..?

    Can you Please Calculate for all the above mentioned Figures and let me know. Before talking to my employer I want to get these figures and know whether my employer is paying me correcttly.

    With Regards,
    Ram...
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member
     
    #2

    Jun 6, 2008, 12:14 PM
    Sorry, I don't have time to do all your math, but, here is a link to a site that will allow you to input your figures, and will show you the amount of your tax.

    http://www.moneychimp.com/features/tax_brackets.htm
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #3

    Jun 6, 2008, 07:05 PM
    1. The tax is not based on gross income. It is based on your taxable income, which is gross income less exemptions and deductions.

    2. What employer pays you depends upon allowances you claim on your W4. You can easily have 10% variation if you change the number of allowances.

    3. Income tax is not at a fixed percentage rate. It is different for different brackets of taxable income. For Single status, the tax rate is
    Rate of federal income tax on your taxable income
    Is over-- But not over-- The tax is:
    $0 -- $7,825 -- 10% of the amount over $0
    $7,825 -- $31,850 -- $782.50 plus 15% of the amount over 7,825
    $31,850 -- $77,100 -- $4,386.25 plus 25% of the amount over 31,850
    $77,100 -- $160,850 -- $15,698.75 plus 28% of the amount over 77,100

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