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manopower
02-03-2009, 12:56 PM
Hello everyone,
Does anyone know where I could go to find out how much my employer is allowed to deduct from my paycheck for: Med Ins, Fed & State Withholding, etc; I mean, is there a certain # or is it a percentage of my gross pay?

Your help is greatly appreciated.

DAW
02-03-2009, 02:50 PM
FICA-SST is 6.2%.
FICA-MT is 1.45%.

Federal income tax is a function of you filing out a W-4 form and then the employer taking the W-4 instructions, the current pay period wages and the pay period tax table and looking up the taxes. It is not a simple percent of wages or flat amount but rather the result of a fairly complicated calculation.

Forty some states have income taxes, and these states have very different ideas on how withholding should work.

Gross wages are sometimes reduced by qualified deferrals or pre-tax deductions or increased for taxable non-cash items for purposes of tax calculations.

I can give you a pointer to a payroll tax calculator.

http://www.paycheckcity.com/netpaycalc/netpaycalculator.asp

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