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Are there fees other than the Federal and State withholding when drawing on a 401K?
Taylor1720
If you have not yet attained the age of 59½, there is an additional 10% penalty on top of the mandatory state and federal taxes.
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∙ 15y ago
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Which states accept the federal W4 form for state withholding?
It varies by state. Some states do not have a state tax withholding form - and in that situation an employee can submit a Federal W-4, designating that he/she is only changing their state tax withholding only. In addition, there are other states (i.e. Washington, Tennessee and Texas) that do not have state tax withholding at all.
Do you have to send 1099 with your tax return?
For federal returns, the only 1099 form to send is Form 1099-R and only if it shows federal withholding. Do not send any other type of 1099 and do not send any 1099-R that does not show withholding. Check the instructions for your state return.
If you make 41000 a year how much is you monthy bring home pay?
More information is needed for a good answer. If you made 41000 a year, that would be 41000/12 or about 3416.66 monthly. However, there is federal, state and local income tax withholding, plus social security and medicare deductions and maybe some unemployment withholding. The income tax withholding are based on federal tax tables for the year you earned the money. The state and any local deductions are based on the year and the state and locality you live in. Their may be other deductions involve such as union dues, health insurance, etc.
What are the three taxes taken form your paycheck?
It will depend on where you reside as to what taxes are withheld. Federal Withholding taxes, FICA taxes, and Medicare taxes are the federal taxes that are withheld. Most people will also be effected by State taxes and some will even have to pay city or county income taxes along with the other taxes.
What is the most in percentage that can be withheld from income of 42000.00 for Federal withholding?
Actually, withholding is basically in your control, through the W-4. You could have 100% of your pay withheld if you wanted...which some people actually do..if they have a lot of income from other sources...or if they file with a spouse that does.
Which states accept the federal W4 form for state withholding?
It varies by state. Some states do not have a state tax withholding form - and in that situation an employee can submit a Federal W-4, designating that he/she is only changing their state tax withholding only. In addition, there are other states (i.e. Washington, Tennessee and Texas) that do not have state tax withholding at all.
Do you have to send 1099 with your tax return?
For federal returns, the only 1099 form to send is Form 1099-R and only if it shows federal withholding. Do not send any other type of 1099 and do not send any 1099-R that does not show withholding. Check the instructions for your state return.
If you make 41000 a year how much is you monthy bring home pay?
More information is needed for a good answer. If you made 41000 a year, that would be 41000/12 or about 3416.66 monthly. However, there is federal, state and local income tax withholding, plus social security and medicare deductions and maybe some unemployment withholding. The income tax withholding are based on federal tax tables for the year you earned the money. The state and any local deductions are based on the year and the state and locality you live in. Their may be other deductions involve such as union dues, health insurance, etc.
Income tax withheld from each paycheck and sent to the state or federal?
You NEVER do have any deductions for federal taxes or other items from your net take home paycheck when it is issued to you. The net amount that is on the paycheck that you have in your hand is your net pay for the pay period after all of the federal taxes and other necessary withholding amounts have been withheld from your gross earnings by your employer payroll department.
What are the three taxes taken form your paycheck?
It will depend on where you reside as to what taxes are withheld. Federal Withholding taxes, FICA taxes, and Medicare taxes are the federal taxes that are withheld. Most people will also be effected by State taxes and some will even have to pay city or county income taxes along with the other taxes.
What is the most in percentage that can be withheld from income of 42000.00 for Federal withholding?
Actually, withholding is basically in your control, through the W-4. You could have 100% of your pay withheld if you wanted...which some people actually do..if they have a lot of income from other sources...or if they file with a spouse that does.
Can federal tax refund be taken by state of ca?
Federal no; the other , yes.
The Various Federal Payroll Tax Deducations?
Payroll taxes are collected as a means of funding large programs that benefit society, or the economy, as a whole. The Social Security tax takes in anything from 6.2% to the annual maximum. Medicare withholding tax is at a cool 1.45%, which serves to fund the health care services for the elderly population. Other variable taxes include the state withholding tax, local withholdings and school district taxes. Of course there is the well-known federal withholding tax which is a deduction based on predesignated classes and tables. Voluntary deductions such as health care premiums depend on the employer.
What are other ways that the federal government imposes costs on state and local governments?
federal and state taxes are one example.
What is an example of gross pay vs net pay?
Some deductions from gross pay to arrive at net pay would be social security tax, federal withholding tax, state withholding tax and state unemployment and/or disability tax. Some other deductions, which could be made either before or after taxable gross pay might be retirement and/or insurance contributions.
How do you get your Nebraska unemployment tax withholding information so you can file your taxes for the year 2007?
You should receive a 1099-G...if you didn't just contact the state. Fair warning: it doesn't always look like the other form 1099s. Yes, unemployment is generally taxable for Federal, frequently not for State, and many States do not withhold on it.
Can someone tell me how the Arizona A-4 Form works If they take a percentage out of your federal taxes for their state taxeswont you end up owing more money for federal taxes then I am confused?
The percentage referred to on the A-4 form represent how your employer will withhold AZ State Taxes. If for example you get paid every other week and your salary is $2,000.00 per paycheck your federal tax withholding would be $192.40 assuming you claimed zero on your W-4. If you elected 37% on your A-4 an additional $71.19 (192.40 x .37) would be withheld for your AZ state taxes.
