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How much Tax/Social Security do they take out of paychecks?


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#1 SuperJediMedia

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Posted 07 August 2008 - 23:36

What percentage is it?

It seems like $200-300 off my check :|

Edited by JediXAngel, 07 August 2008 - 23:47.



#2 OP SuperJediMedia

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Posted 07 August 2008 - 23:52

No answer?

#3 Sophism

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Posted 07 August 2008 - 23:53

What the ****? Its been like less then 20 minutes.

#4 MECL

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Posted 07 August 2008 - 23:53

325 for my last one...was kinda bummed. I dont remember it being this high last time.

#5 39 Thieves

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Posted 07 August 2008 - 23:56

"FICA contributions, including various sub (categories of things like SS, Disability, Health, etc) are 15.30% of FICA wages. What is considered FICA wages differ from other wage considerations in many ways, (it has a top limit that changes regularly of about 97.5K, how pension contributions factored, State taxes, etc.).

If you are an employee, the employer MUST pay half of the contribution (so you only directly pay 7.65%). If your self - employed, the amount normally paid by the employer is collected through something called the "self employment tax" when you file your income tax return"

Tax depends on state and amount you are paid...or something. You can google this stuff, you know.

#6 OP SuperJediMedia

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Posted 07 August 2008 - 23:58

Well, I [probably] don't make as much as you though. So, how do you figure out? 325 for you but you probably make $1000+ every week don't you?

I know Middle class, lower class, and rich people all have varied rates... I am considered High Lower class to Lowest Middle class.

#7 ninjamunky

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Posted 07 August 2008 - 23:59

I always figure it's about 15-25%, possibly more. Plus I'm putting money away for my 401k and Stock Purchase Plan.

Last pay period I made roughly 700 and netted 500 into my bank. 25% is a pretty good estimate, and even if it's an overshot, you'll be presently surprised.

#8 NeptuneSak

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Posted 07 August 2008 - 23:59

I haven't worked in awhile (at school now). When I took a year off and worked about 3 jobs, I paid roughly about 200-300 in taxes and other stuff for each checks.

#9 vetFred Derf

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Posted 08 August 2008 - 00:07

Isn't it all broken down on your pay stub?

#10 OP SuperJediMedia

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Posted 08 August 2008 - 00:09

Isn't it all broken down on your pay stub?


No I know what my check says, but I just like to know if that's normal.... what most other people also got.

#11 vetFred Derf

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Posted 08 August 2008 - 00:10

No I know what my check says, but I just like to know if that's normal.... what most other people also got.

If your employer takes off too much then you'll get it back at the end of the year.

If they take off too little then you may have to pay the difference. Either way, it will all work out next spring.

#12 MR_Candyman

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Posted 08 August 2008 - 00:21

I pay 23% of my cheque in taxes.

#13 1941

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Posted 08 August 2008 - 00:22

The Social Security FICA tax is based on the first $97,500 paid at the rate of 6.2% with a maximum amount withheld of $6,045.00. The Medicare (Hospital Insurance) FICA tax is based on all earnings paid at the rate of 1.45%.

The employer matches what you pay.
Source

Last modified: 12/10/2007

#14 +Zag L.

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Posted 08 August 2008 - 00:23

At my pay rate, with 2 exemptions, I pay about 20% Federal Tax, SS, and Medicare. I do not live in a state that collects income tax so that is about it. For me that works out to about $770.00 every 2 weeks (I know, the smart ones out there will actually do the math to determine my approximate pay but that's ok). The exemptions make a big difference in the amount. I have worked it out out pretty well so that I never get a refund and always owe a little bit.



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