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Old 11-05-2005, 09:27 AM   #1
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Default Paycheck Tax Question? How much do they deduct?

For example if you make $10 dollars/hr and work 40 hrs a week your looking at $400 a week. So how much of that will they deduct for taxes. No dependents and single. No children, no divorce.

And no thats not what i make i was just wondering. in the state of California.

thanx.
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Old 11-05-2005, 09:32 AM   #2
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Default Re: Paycheck Tax Question? How much do they deduct? (Lookincrazy)

In MA, after taxes and deductions, most jobs I've worked at I see 70-75% of my gross as net.
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Old 11-05-2005, 09:42 AM   #3
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Default Re: Paycheck Tax Question? How much do they deduct? (jlacoy82)

oh i see....but is there a formula or a certain percentage they deduct?
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Old 11-05-2005, 09:44 AM   #4
 
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Default Re: Paycheck Tax Question? How much do they deduct? (Lookincrazy)

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Originally Posted by Lookincrazy
For example if you make $10 dollars/hr and work 40 hrs a week your looking at $400 a week. So how much of that will they deduct for taxes. No dependents and single. No children, no divorce.

And no thats not what i make i was just wondering. in the state of California.

thanx.
I'm assuming you live in California?

There are a lot of other variables to consider, but it looks as though you will end up losing ~$55.90 out of each $400 paycheck, based on your example. That includes state and federal, but I'm sure the information is a little out of date, so only use it as a rough guide.

For 2004, CA state income tax for your bracket was 4%. This is usable as a deduction on your federal tax form, so make sure you make use of it. No sense in paying the man twice.
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Old 11-05-2005, 09:45 AM   #5
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Default Re: Paycheck Tax Question? How much do they deduct? (Lookincrazy)

Yeah......

State tax
Federal tax
Social security tax
Medicare tax
dental deduction
medical deduction
life insurance
Long/short term disability insurance

Other than that, I didnt really have any deductions. Click the image to open in full size.
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Old 11-05-2005, 09:51 AM   #6
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Default Re: Paycheck Tax Question? How much do they deduct? (jbean382)

well my friend is the one who asked me. he gets paid every 2 weeks. for every 2 weeks he generates $800 but the deduction is sometimes from $220 to like $250 for every $800. so 55.90 for every $400 dosen't seem right, but you did state that its is a little out of date so i am not saying your answer is wrong. But thanx again for answering.
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Old 11-05-2005, 09:54 AM   #7
 
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Default Re: Paycheck Tax Question? How much do they deduct? (Lookincrazy)

His paychecks still translate to $20,000/year if he works 40 hours a week for 50 weeks a year. My information was based on that assumption, along with NO deductions of any kind, other than CA state income tax.

It is sort of necessary to know how much he works in a fiscal year, since that is how taxes are determined. The less he works, the less he pays in taxes (both $ amount and percentage wise, to a point), and vice versa.

But yes, the info is a little out of date, and as I said before, there are other variables to consider, such as supplemental income, deductions, etc.
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Old 11-05-2005, 10:30 AM   #8
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Default Re: Paycheck Tax Question? How much do they deduct? (jbean382)

Making mimimum wage in California I take about 12-15% taxes.

Hopefully its not too much more when I move up to $10+ this week.
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Old 11-05-2005, 11:04 AM   #9
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Default Re: Paycheck Tax Question? How much do they deduct? (Maness)

uhh...i hate taxes.
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Old 11-05-2005, 11:23 AM   #10
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Default Re: Paycheck Tax Question? How much do they deduct? (UCBSTI)

After all taxes I only receive 72% of my check Click the image to open in full size.
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Old 11-05-2005, 11:32 AM   #11
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Default Re: Paycheck Tax Question? How much do they deduct? (integra15)

Quote:
Originally Posted by UCBSTI
uhh...i hate taxes.

they deduct too much Click the image to open in full size.
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Old 11-05-2005, 11:36 AM   #12
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Default Re: Paycheck Tax Question? How much do they deduct? (integra15)

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After all taxes I only receive 72% of my check Click the image to open in full size.
Lucky. I get about 60%, bonuses are about half
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Old 11-05-2005, 04:46 PM   #13
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Default Re: Paycheck Tax Question? How much do they deduct? (Lookincrazy)

damn this tax **** sux
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